IBJNews

Noblesville OKs $40 million upscale apartment project

Back to TopCommentsE-mailPrintBookmark and Share

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.”

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. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

ADVERTISEMENT