Pulte Homes of Indiana LLC would build the houses, which would range from 2,200 square feet to 2,750 square feet and cost between $700,000 and $750,000.
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Noblesville Economic Development Director Andrew Murray told the council that the developers plan to invest $475 million in the project, which is expected to have a $700 million market value when completed.
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The proposed development would feature ranch and two-story houses with average sales prices ranging from $500,000 to $650,000.
Parkside at Finch Creek would be designed for as many as 1,500 new housing units, including homes for empty-nesters, apartments and senior-care facilities.
Plans for the 856-home project, initially pegged at 780 acres, were introduced in August. Even after developer Pulte Homes made major revisions, the Westfield City Council on Monday scuttled the plans.
PulteGroup is embarking on a large residential development in Plainfield that provides one of the clearest signals yet that the local housing market is on the mend.
