Big 'Harmony' Development Moving ForwardPosted: Updated:
Two central Indiana companies are partnering to develop a 275-acre mixed-use community in Westfield. Harmony, which includes plans for 650 homes, 250 apartment units and retail space, is a collaboration between Estridge Homes and T.M. Crowley & Associates. April 3, 2015
WESTFIELD, Ind. - One of Hamilton County’s fastest growing areas is about to benefit from the expertise of nationally-known commercial developer T.M. Crowley & Associates, which will work with the partnership of Paul Estridge Jr. and Jay Farmer to develop the retail component of the new Harmony community in Westfield.
Located on the northwest corner of 146th Street and Ditch Road, Harmony is a 275 acre residential and commercial development that will eventually feature more than 650 single-family homes, a 250-unit apartment complex, and some 170,000 square feet of neighborhood shops that could include a grocery store, pharmacy, a convenience store, restaurants, and a coffee shop.
“We’ve been working hard – day and night – to get our five model homes ready for the spring home shopping season at Harmony. And today I’m very pleased to announce that we’re adding the retail expertise of Tom Crowley’s team to the Harmony community. T.M. Crowley & Associates is a firm known for uniting growing businesses with attractive residential centers,” said Estridge Homes President Paul Estridge Jr.
Strong Growth and a Ready Market
Indianapolis-based T.M. Crowley & Associates is talking to its clients now about opportunities for the growing community.
“The city of Westfield, in particular, is supportive of careful and responsible development. We’re delighted to be playing one part in the effort to bring new single-family homes, new apartments, and new retail options to the area with a plan that will respond to neighborhood needs. We’re actively working now to identify potential retail partners who might be interested in this area at 146th and Ditch Road. While no deals have yet been signed, the Harmony Marketplace project has a footprint ideal for several successful retail stores,” said T.M. Crowley & Associates founder and Chief Executive Officer Tom Crowley.
Crowley is one of the nation’s largest developers for CVS Pharmacy (responsible for 1,500 stores nationwide) as well as a major developer for Cumberland Farms.
Developer Crowley, who has overseen the creation of more than $1 billion in real estate assets, has an established track record at some of the most high-profile projects in the greater Indianapolis area. Previous Crowley projects include Hamilton Town Center and The Crossing at 146th Street and State Road 37, both located in Noblesville.
Crowley is well known for his expertise in land acquisition and assemblages exemplified by the 1,800 acre Anson project in Boone County. Recognized for his pragmatic approach to large-scale developments and rezoning challenges, Tom was responsible for the development of the Giant Eagle grocery store project at The Bridges in Carmel.
T.M. Crowley & Associates is expanding its reach through new initiatives that include three area “Get-Go” stores and the opening of a west coast office, among other projects.
Model homes will open later this month at Westfield’s Harmony. The residential community features seven house styles ranging in size from 1,800 square feet to more than 4,000 square feet, with starting prices from $275,000 to $450,000. Amenities will include an expansive “Lifestyle Club” with banquet facilities, miles of winding walking and jogging paths, racquet courts, a fitness/workout center, yoga facilities, exercise and leisure pools, playgrounds, a putting green, lakes abundant green space, and a thriving commercial district.
The Harmony project started in October 2013 when Estridge Homes announced a new partnership with North Carolina-based Mountain Real Estate Capital, a leading private equity source that provided $25 million in financing for Harmony and other future developments.
“We’re excited to see the arrival of spring, because that means we’re about to open our doors at Harmony. Visitors will find a style inspired by the great homes in Meridian-Kessler, but with open floor plans and modern conveniences. Today’s announcement with T.M. Crowley adds to the premium and convenient lifestyle that Harmony will provide,” Estridge said.
Find additional information about Harmony at: http://www.liveinharmony.info
About Estridge Homes:
The Estridge family has been building homes in Central Indiana since 1967. Over the years, the Estridge companies have developed more than 20 communities and built more than 8,000 homes. Today, Estridge Homes is a new company made up of the best homebuilding team in Indiana. We are joined by many of the great craftsmen and materials supplies who know the high standards for quality and excellence. Paul Estridge Jr. has earned numerous awards, including Indiana Builder of the Year, National Housing Quality Gold Award from NAHB, and INC. Magazine’s Entrepreneur of the Year. In addition, Estridge’s company was recognized as one of the top ten companies to work for in Indiana from 2007 to 2009. www.estridge.com
About Mountain Real Estate Capital:
Since 1993, Mountain Real Estate Capital has been a leading private equity source for real estate developers and builders. Mountain, capitalized with $1 billion for joint venture investment, is headquartered in Charlotte, N.C., with offices in Minneapolis, San Diego, Austin and New York. Since 2010, Mountain has acquired more than 40,000 lots/homes and another 9,000 developable acres, deploying more than $700 million in equity investment. Mountain has partnerships with 17 best-in-class developers and builders, closing deals in 18 states. www.mrec.com
About T.M. Crowley & Associates:
The people of T.M. Crowley & Associates are recognized, seasoned experts in multiple facets of real estate development. From third party development to consultation, land planning and management services, T.M. Crowley delivers world-class results rooted in decades of collective industry experience. After partnering to build one of the most successful real estate firms in the Midwest over a span of two decades, T.M. Crowley & Associates was established in 2013 as an independent company focused on comprehensive procurement and management of high-end, national developments. www.tmcrowley.com
Sources: Estridge Homes, Mountain Real Estate Capital, T.M. Crowley & Associates