Projects move forward for Carmel City Center phase 2
With two new buildings – Mezz 42 and The Nash – set to open this summer as a part of phase two of the Carmel City Center, attention is now moving to several new buildings that will begin construction nearby in the coming months.
The next two buildings set to begin soon are the four-story parking garage owned by the city and the Baldwin and Chambers buildings, located off of Range Line Road between The Nash and City Center.
In 2015, construction should begin on the Baldwin/Chambers buildings. Design phase is underway. The four-story buildings will have approximately 64,000 square feet for luxury apartments and retail/office space. Pedcor, which owns the buildings, is currently working with four commercial businesses who will occupy about 14,000 square feet of commercial space. Completion date is estimated for 2017.
The parking garage – called Park East – that was approved months ago by the Carmel City Center and was passed with a 4-3 vote for a tax increment finance deal. The Carmel Redevelopment Commission insisted there are many layers of protection that protect taxpayers from any risk of debt associated with the more than $15 million for the project. Several city councilors expressed concerns about a Special Benefits Tax used as protection to secure the bonds.
The garage will have no less than 620 parking spaces and will include up to approximately 28,000 square feet of commercial retail/office space. Design is under with construction expected in second quarter 2016.
Further down the road in the next few years, Pedcor plans to construct the Playfair building, a five-story structure with 63,000 square feet for luxury apartments and retail office, Pedcor Office 5, a two-story building with 20,000 square feet for office space, and the Kent building, a three-story structure with 111,000 square feet of luxury apartments. A start date for those projects is listed for fall 2015 but that doesn’t necessarily mean construction would begin and it could still be in preliminary stages.
The Wren, a seven-story building with 88,000 square feet of apartments, office and retail, is scheduled for a 2016 start. The Windsor, a four-story building with 64,000 square feet, is scheduled for a 2017 start. The proposed hotel is still to be determined.