IBJNews

Boomerang comes back with plans for Noblesville subdivision

Back to TopCommentsE-mailPrintBookmark and Share

A local developer is moving forward with plans to build a 144-lot subdivision in Noblesville—the first such project city officials have OK’d since approving another proposal for the same property in 2007.

Fishers-based Boomerang Development LLC shelved those plans when the economy tanked, but it didn’t give up on the 77-acre site at the northwest corner of 161st Street and Hazel Dell Parkway.

The Noblesville Common Council this month approved a new development proposal for Lake Forest of Noblesville. Boomerang President Corby Thompson said the $40 million community will be built in phases over several years. Construction could begin this summer.

“This is a better plan,” Thompson said of a neighborhood design that preserves existing trees and includes trails that connect to nearby recreational paths. “It’s a better layout, and it is a better fit for the current market.”

Bloomfield Hills, Mich.-based Pulte Homes will build the houses, most of which are expected to sell for $250,000 to $350,000—a lower price point than called for in the earlier proposal. Three lots on the western edge of the property are set aside for custom homes in the $600,000-plus range, though Thompson said demand will dictate whether those are built.

Davis Homes was the builder in the earlier proposal, but the local company failed to emerge from what Thompson called the industry "cleansing" brought about by the recession.

Thompson is confident now is the time to develop the site. Homebuilding activity in Hamilton County increased 20 percent in 2012, according to annual building-permit data released by the Builders Association of Greater Indianapolis. Single-family permits in Noblesville were up 75 percent in the first two months of this year, compared to the same period in 2012.

“There’s a shortage of lots in Hamilton County,” Thompson said. “The market is there.”

City Planning Director Christy Langley concurs.

“I see this as one of many signs that the economy is coming back, and Noblesville continues to be a desirable destination,” she said, citing a low vacancy rate for the city’s housing stock and a limited inventory of existing homes for sale.

Indeed, Boomerang also is working on plans for a 500-lot community near Boden Road and 166th Street on Noblesville’s east side, where the city hopes to develop a 200-acre park. He expects to submit that proposal for council approval by May.

Some of Lake Forest’s future neighbors weren’t as optimistic about the housing rebound, pointing out during public hearings that two existing subdivisions near 161st and Hazel Dell still have undeveloped lots.

Langley said construction in the Twin Oaks of Noblesville and Essex of Noblesville neighborhoods has been steady despite the recession. And she said officials cannot legally reject a development proposal because other lots are available.  

Thompson said his project is different enough that he isn’t concerned about the competition.

“I think they can all co-exist very well,” he said.

Noblesville’s comprehensive plan calls for residential development at that intersection, Langley said, and the additional homes should provide a welcome boost to nearby retail hubs along the four-lane Hazel Dell Parkway.

“The more rooftops we get, the better they’re going to perform,” she said.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Those of you yelling to deport them all should at least understand that the law allows minors (if not from a bordering country) to argue for asylum. If you don't like the law, you can petition Congress to change it. But you can't blindly scream that they all need to be deported now, unless you want your government to just decide which laws to follow and which to ignore.

  2. 52,000 children in a country with a population of nearly 300 million is decimal dust or a nano-amount of people that can be easily absorbed. In addition, the flow of children from central American countries is decreasing. BL - the country can easily absorb these children while at the same time trying to discourage more children from coming. There is tension between economic concerns and the values of Judeo-Christian believers. But, I cannot see how the economic argument can stand up against the values of the believers, which most people in this country espouse (but perhaps don't practice). The Governor, who is an alleged religious man and a family man, seems to favor the economic argument; I do not see how his position is tenable under the circumstances. Yes, this is a complicated situation made worse by politics but....these are helpless children without parents and many want to simply "ship" them back to who knows where. Where are our Hoosier hearts? I thought the term Hoosier was synonymous with hospitable.

  3. Illegal aliens. Not undocumented workers (too young anyway). I note that this article never uses the word illegal and calls them immigrants. Being married to a naturalized citizen, these people are criminals and need to be deported as soon as humanly possible. The border needs to be closed NOW.

  4. Send them back NOW.

  5. deport now

ADVERTISEMENT