Commission Rejects Redevelopment ProposalsPosted: Updated:
The Carmel Redevelopment Commission has rejected a pair of bids to develop property located between the city's Arts & Design District and Carmel City Center. After a 30-day waiting period, the commission can refine the existing plans for the five-acre Midtown property and consider new ones. Members of the commission said Wednesday it is not uncommon to reject bids in order to take another look at a later time.
The $2.5 million proposal from Barrett & Stokely Acquisitions calls for 200 apartments, two dozen residential units and mixed use space.
Old Town Development LLC put forth a $1.7 million plan that includes up to three dozen residential units, an additional building and no apartments.
Midtown has become a major focus of the city's redevelopment efforts.
In September, the city of Carmel and Old Town Development also announced a $150 million plan that calls for 270 residential units to connect the Arts & Design District and Carmel City Center and create a "continuous downtown core."
Officials also say that project, which is under development close to the aforementioned bids, could eventually lead to 1,000 jobs.
Source: City of Carmel
EDITOR'S NOTE: A previous story erroneously identified the rejected proposals as the $150 million redevelopment proposal.