Builder bets on West Clay retail area
A developer is poised to tackle the remaining vacant commercial property in the heart of Carmel’s Village of West Clay.
A developer is poised to tackle the remaining vacant commercial property in the heart of Carmel’s Village of West Clay.
Between the two high-end communities in Carmel and Noblesville, Pulte Homes expects to be able to build on more than 200 home sites.
Last year’s residential building boom in the Village of West Clay has proven to be short-lived, as an ongoing dispute between the developer and its lenders halted land sales in the upscale Carmel neighborhood.
Brenwick Development Co. claims a switch in lenders has halted about $7 million in land sales in the mammoth mixed-use community in Carmel. The firm has filed suit against the banks.
Ambrose Property Group, a commercial leasing and development company headed by former Duke Realty Corp. broker Aasif Bade, took over for Brenwick, which is primarily a residential developer, at the beginning of the year.
Chapter, heavily populated by developers, hopes to guide sustainable development.