Carmel receives eight development proposals for PNC Bank site

The Carmel Redevelopment Commission has received eight proposals from private developers interested in partnering with the city to redevelop the PNC Bank site, at Main Street and Range Line Road, which it acquired in December for $2.5 million. 

Carmel issued a request for proposals for the site in March.

Henry Mestetsky, director of the Carmel Redevelopment Commission, told IBJ on Tuesday that the overwhelming response to the RFP was rare. He said the last time Carmel received more than one response to an RFP was in 2016 for a condo project.

The RFP covered 1.7 acres, including parts of the PNC property and an adjacent 1.2-acre site the city also owns. The site is referred to as Lot One because part of the property incorporates the first four lots of the town of Bethlehem, which changed its name to Carmel in 1874 because there was another town in Indiana registered as Bethlehem.

“Eight responses from quality development teams is a huge deal,” Mestetsky said in an email to IBJ. “We will take the next 30-60 days to evaluate the proposals. What we really like is how many of these have both a for-sale residential component and a corporate HQ component. That daytime and evening foot traffic does wonders for the small businesses in the Arts and Design District.”

Each of the proposals includes space for office or retail and some residential. They also each include a parking garage the public would be able to use.

Here’s a look at the proposals:

— Bloomington-based WS Property Group proposed building 47,000 square feet of office and retail space, 33 apartments, nine lots for owner-occupied residential and a 180-space public parking garage.

— Carmel-based Lauth Group Inc. recommended 67,400 square feet of office and retail space, 40 to 50 for-sale condos, five for-sale townhouses and a 236-space public parking garage.

— Indianapolis-based Keystone Realty Group proposed 37,000 square feet of office and retail space, 90 apartments, 18 for-sale condos and a 240-space public parking garage.

— Indianapolis-based Pure Development's plan includes 69,000 square feet of office and retail, 20,000 squarefeet of community food markets or food halls, 25 for-sale condos and a 461-space parking garage.

(To see renderings of the WS, Lauth, Keystone and Pure projects, click here.)

— Indianapolis-based Deylen Realty proposed 100,000 square feet of office and retail, six for-sale townhomes and a 400-space parking garage.

— Indianapolis-based TWG Development proposed 17,000 square feet of office and retail, 76 for-sale condos and a 222-space parking garage.

— Indianapolis-based Onyx + East plan includes 84,300 square feet of office and retail, 34 for-sale condos and a 420-space parking garage.

— Wisconsin-based Hendricks Commercial Properties pitched 110,000 square feet of office and retail, 60 for-sale condos and a 200-space parking garage.

(To see renderings of the Deylen, TWG, Onyx + East and Hendricks projects, click here.)

“This is a game-changing project for the small businesses in the heart of our community who count on us to make these kinds of investments to keep the district vibrant,” Mayor Jim Brainard said in written comments. “This project in particular will help the those east of Range Line Road on Main Street, bringing with it more activity from sunrise to sunset with a mix of office workers and residents.”