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North of 96th

Welcome to North of 96th, your source for business news from Carmel, Fishers, Noblesville, Westfield and Zionsville. Your host, Lindsey Erdody, can be reached at lerdody@ibj.com.

Carmel / Residential Real Estate / Hamilton County / Regional News

Builder plans trailside community in Carmel

October 2, 2013

M/I Homes of Indiana wants to build as many as four dozen homes on 15 acres of lakeside land along the Monon Greenway north of Interstate 465.

If Carmel officials approve a rezoning request, the heavily wooded property would become Monon Lake, a single-family development named for the body of water that comprises at least half the 34-acre site.

Preliminary plans call for 47 lots on two streets lining the lake’s western and northern shores; the highway is to its south and the Monon to its east. Trail access is a given.

The proposed lineup of one- and two-bedroom home plans—with names like Oasis, Retreat and Serenity—range in price from about $175,000 to $325,000 in other communities north of 96th, according to the builder’s website.

Land along the southern edge of the property would be dedicated to the city for a future connection between an improved 101st Street and an extended 96th Street.

Residential uses are allowed on the property now, but M/I is seeking to rezone it as a planned unit development. The common maneuver, which applies certain design standards to a project, requires City Council approval.

A decision likely is months away, since the proposal still must head to the Carmel-Clay Plan Commission for detailed review. The commission’s recommendation to council isn’t binding, but it’s usually heeded.

What’s your take on the potential for more trailside living in Carmel? Is the Monon really central Indiana’s version of beachfront property?
 

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