Carmel Blog Posts

Keystone seeks $3.8M subsidy for Carmel project

August 29, 2014
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Keystone Realty Group is asking Carmel to issue $3.8 million in economic development bonds to help pay for parking and site work on a 5.3-acre property it plans to redevelop at the intersection of Old Meridian and Main streets.
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Fishers redevelopment draws homegrown Pure Eatery

August 26, 2014
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The owners of Fountain Square’s Pure Eatery are planning to open a second location in downtown Fishers early next year. Plus: Gumbo A Go Go, Wolfies and pizza news.
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CIRTA unveils commuter-bus schedule for Fishers, Carmel

August 25, 2014
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Hamilton County commuters who ride the Indy Express Bus to and from downtown Indianapolis will have fewer departure options starting Sept. 2. A new schedule was released Monday afternoon.
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Locals asked to help fund commuter-bus service

August 18, 2014
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Fishers Town Council on Monday is expected to consider a subsidy of up to $22,500 to keep the Indy Express commuter buses running for the rest of 2014. Carmel City Council, meanwhile, has a $30,000 grant request on the table.
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Mass Ave merchants' pop-up shop reopening in Carmel

August 12, 2014
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Mass Ave retailers are making a return trip to Carmel's Main Street, and they could stay longer this time.
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St. Vincent Heart Center seeks to build helipad in Carmel

August 8, 2014
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St. Vincent Heart Center is seeking city permission to build a helipad on church-owned property south of 103rd Street in Carmel, about a half-mile from the specialty hospital.
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Developer pitches plans for former Carmel golf course

August 1, 2014
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Plans for the former Sunrise Golf Club property along the Monon Greenway in Carmel are coming into focus as the developer asks the city to approve a rezoning request.
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Carmel marketer deploys flying camera

July 30, 2014
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Carmel marketing firm Fat Atom’s new toy tends to draw a crowd, giving the agency high hopes for the business its drone could deliver.
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Square Donuts signs lease in Carmel

July 28, 2014
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Indianapolis’ Square Donuts franchise is growing, with plans to open a Carmel location within weeks. Plus: McDonald's eyes The Bridges.
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Roundup: Aurelio's Pizza, ice cream 'emporium' and Dottie Couture in Fishers

July 23, 2014
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Chicagoland favorite Aurelio’s Pizza is extending its reach into central Indiana, with plans for a restaurant in Fishers. Plus: ice cream, sushi, and more Dottie Couture.
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Byrd's flying north to renovated Fountains facility

July 21, 2014
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The Carmel banquet center formerly known as The Fountains is being remodeled to accommodate new tenant Jonathan Byrd’s Catering.
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Pizzology to fill vacant restaurant space in West Clay

July 15, 2014
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Local restaurateur Neal Brown is bringing his popular Pizzology Pizzeria + Pub concept to the Village of West Clay, targeting a late-September opening for its third location.
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Upscale salon closes Clay Terrace storefront

July 11, 2014
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High-end David & Mary Salon Spa has closed its Clay Terrace location after months of grappling with road construction, frigid weather and the loss of several key employees. Plus: Macaroni Grill leaves Carmel.
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Carmel cancels pharmaceutical firm's tax break

July 11, 2014
Comment(1)
Carmel City Council voted 6-0 Monday to terminate a tax abatement for Pharmakon LTC Pharmacy, which relocated its drug-repackaging operation to Noblesville last year.
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Commuter bus operator seeks extra funding for Fishers, Carmel service

July 8, 2014
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The $5 Hamilton County commuters pay to ride the Indy Express bus to or from downtown isn’t enough to sustain the route, the operator told Fishers Town Council during a Monday work session.
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Private foundation planning Carmel HQ

June 27, 2014
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Indianapolis-based Liberty Fund plans to build a campus-like headquarters on the Meridian Street office corridor in Carmel—if officials approve a couple of notable exceptions to the city’s development guidelines for the area.
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City seeks to keep Carmel's Monon Greenway green

June 20, 2014
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Carmel wants to rezone more than 130 properties along the Monon Greenway north of 96th Street, a move leaders say will protect the tree-lined trail from future development. Neighbors aren't convinced.
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Non-chain eatery sets sights on former Glass Chimney site in Carmel

June 19, 2014
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An independent restaurant owner plans to take over the vacant Glass Chimney building on Carmel's Old Meridian Street, transforming it into a family eatery with two outdoor dining areas.
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Sundown Gardens moving from Carmel to Westfield

June 13, 2014
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Longtime Carmel garden center Sundown Gardens is transplanting its operations to Westfield, where it’s planning an outdoor showroom and an agritourism-focused retail area.
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Long-vacant Carmel restaurant to become pet center

May 30, 2014
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Plans are in the works to transform the former Lotus Garden restaurant in Carmel into a veterinary clinic with a pet spa, boarding facilities and a future bark park.
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Developer plans housing on former Carmel golf course

May 27, 2014
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Carmel-based Old Town Development LLC is planning to transform the former Sunrise Golf Club into a residential community targeting empty nesters.
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Sharks decline to take Carmel firm's bait

May 19, 2014
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Carmel-based Baker’s Edge may not have landed an investment on the season finale of ABC hit “Shark Tank,” but co-founder Matt Griffin nevertheless feels good about the experience.
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Court OKs selling off Carmel firm's property holdings

May 16, 2014
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A Hamilton County court has approved the sale of nine central Indiana properties tied to Carmel-based CFS Inc., which is facing a state securities fraud lawsuit. Twice as many remain on the market.
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Roundup: Tilted Kilt in Carmel, plus beer, burgers, sweet tea and toys

May 15, 2014
Comments(2)
Sports pub chain Tilted Kilt is planning a Carmel location. Plus: new beer options, McAlister's remodels, and a local toy store closes.
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Carmel redevelopment panel OKs $730K deal with Palladium contractor

May 7, 2014
Comments(3)
Carmel Redevelopment Commission members have agreed to pay $730,000 to settle the final piece of a years-old legal dispute tied to construction of the city’s Palladium concert hall, which opened in 2011.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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