NOBLESVILLE, Ind. (Inside INdiana Business) — A nearly $50 million mixed-use development is being proposed for downtown Noblesville. Carmel-based J.C. Hart Co. Inc. and Republic Development in Fishers say the four-story building, which has received support from Mayor Chris Jensen, will feature residential and commercial space, as well as a parking garage along the White River.
The development would be located on a 3.4-acre area that currently houses the Hamilton County Employee Parking Lot and McMillan’s Auto Care.
Officials say the building will have 5,000 square feet of retail space, as well as 219 high-end apartments ranging from $850 to $2,000 per unit. The 295-space parking garage will be part of the project, as well as 32 on-street parking spaces.
Jensen says the project will bring more diverse retail and housing options to Noblesville and supports his administration’s economic development and downtown enhancement efforts.
“One of our city’s great assets is the White River and this project will bring people to the heart of our city and increase the vibrancy along the river,” Jensen said in a news release. “Investing in our downtown livability and quality of life attracts more talent to our community, which ultimately drives our economic development.”
The city says the project will largely be funded through private capital, as well as specified tax increment generated by the new development.
The project plan and economic development agreement will soon be introduced to the Noblesville Common Council. If approved, developers plan to break ground in late spring or early summer next year.