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Noblesville OKs $40 million upscale apartment project

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Noblesville officials have signed off on preliminary plans for a $40 million upscale apartment project in the city’s massive Corporate Campus—effectively closing out such development there.

The development, dubbed Chapel Pointe of Meredith Meadows, would be located on 24 acres southwest of the intersection of Promise Road and Greenfield Avenue. Housing options in the 491-unit project would include $1,600-per-month townhouses, plus an array of 1-, 2- and 3-bedroom apartments renting for $800-$1,375 a month.

Indianapolis-based Marah Development now must work with city officials to finalize plans before construction can begin.

The property is part of a planned development with 3,600 acres of pre-zoned, shovel-ready land intended to attract commercial investment. About 20 percent of the campus was set aside for residential use.

Although there’s still some room for single-family development, Noblesville Planning Director Christy Langley said Chapel Pointe will occupy the last parcel available for multifamily housing. Apartments still could be included as part of a mixed-use project, she said.

Multifamily development has been booming throughout central Indiana, and demand remains strong. The Noblesville/Fishers area had an occupancy rate of almost 95 percent last year, local apartment brokerage and advisory firm Tikijian Associates said in its 2012 rent survey report.

“The market’s pretty good, but there are a lot of other projects in the works,” George Tikijian said. “I don’t know at what point that will have an impact [on the occupancy rate], but it will.”

More than 400 units are included in two projects already slated for Noblesville, according to Tikijian’s annual apartment overview, and IBJ reported last year that another 1,000-plus apartments are planned just south in Fishers.

Noblesville officials hope residential development attracts more businesses to the Corporate Campus, already home to growing companies like SMC Corp. of America and Helmer Inc.

“We want to create jobs, help our economy and make a better life for residents of Noblesville, if you will,” Noblesville Mayor John Ditslear said. “That’s going to take a while.”

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  1. Socialized medicine works great for white people in Scandanavia. It works well in Costa Rica for a population that is partly white and partly mestizo. I don't really see Obamacare as something aimed against whites. I think that is a Republican canard designed to elicit support from white people for republican candidates who don't care about them any more than democrats care about the non-whites they pander to with their phony maneuvers. But what is different between Costa Rica nd the Scandanavian nations on one hand and the US on the other? SIZE. Maybe the US is just too damn big. Maybe it just needs to be divided into smaller self governing pieces like when the old Holy Roman Empire was dismantled. Maybe we are always trying the same set of solutions for different kinds of people as if we were all the same. Oh-- I know-- that is liberal dogma, that we are all the same. Which is the most idiotic American notion going right back to the propaganda of 1776. All men are different and their differences are myriad and that which is different is not equal. The state which pretends men are all the same is going to force men to be the same. That is what America does here, that is what we do in our stupid overseas wars, that is how we destroy true diversity and true difference, and we are all as different groups of folks, feeling the pains of how capitalism is grinding us down into equally insignificant proletarian microconsumers with no other identity whether we like it or not. And the Marxists had this much right about the War of Independence: it was fundamentally a war of capitalist against feudal systems. America has been about big money since day one and whatever gets in the way is crushed. Health care is just another market and Obamacare, to the extent that it Rationalizes and makes more uniform a market which should actually be really different in nature and delivery from place to place-- well that will serve the interests of the biggest capitalist stakeholders in health care which is not Walmart for Gosh Sakes it is the INSURANCE INDUSTRY. CUI BONO Obamacare? The insurance industry. So republicans drop the delusion pro capitalist scales from your eyes this has almost nothing to do with race or "socialism" it has to do mostly with what the INSURANCE INDUSTRY wants to have happen in order to make their lives and profits easier.

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