`

Developer scales back Ed Martin-anchored Noblesville project

June 12, 2015

Big portions of a major development deal for 41 acres near 141st Street and State Road 37 in Noblesville have fallen through.

An affiliate of the automotive group initially presented plans for Ed Martin Pointe to Noblesville officials more than a year ago, with intentions of a car dealership, mixed-use development, transit hub and city-funded infrastructure improvements.

The Noblesville City Council approved the rezoning request for the Toyota dealership aspect of the project Tuesday, but the development deal for a new road, drainage upgrades and an arrangement to use part of the property for a future transit station was taken off the agenda.

The high-density housing component also was removed from permitable uses in the rezoning language.

The project now only includes the Toyota dealership that Ed Martin Automotive Group is relocating from Anderson to about 10 acres on the south edge of the property.

Initially, the city had offered a development agreement that included using public dollars to extend Herriman Boulevard from 146th to 141st streets and allow the city to purchase 5 acres on the northwest corner for a public transportation terminal.

The city’s contribution was expected to be about $4 million and require a new tax increment financing district to cover the costs of the road and drainage project.

Several city council members were uncomfortable with the high cost and adding high-density housing in that area, so the residential component was removed from the request and the incentive deal scrapped.

The Toyota dealership is expected to be about 50,000 square feet with close to 700 parking spaces.

The rezoning application heads back to the plan commission for final approval on Monday because it was amended.

The land is mostly vacant with a standalone frozen custard shop on the southeast corner and the Nickel Plate rail line along the western border.

ADVERTISEMENT

Recent Articles by Lindsey Erdody

Comments powered by Disqus