270 homes planned on 30 acres west of Gramercy apartments

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The Carmel Plan Commission will consider a proposal for 270 new homes on 30 acres next to the Gramercy apartment complex on 126th Street. Indianapolis-based Platinum Properties Management Co. LLC is calling the project Gramercy West and wants to build units that would sell for between $300,000 to the mid-$400,000s.

City councilor Bruce Kimball, who represents the area, said he understands that people might be concerned about so many homes on only 30 acres of land, but he said the newly remodeled 126th Street is built to handle the additional traffic. Furthermore, he said the density is necessary to provide enough housing supply to help lower prices in Carmel. He said he’s heard that affordable housing is a concern for people living in Carmel, and limiting the housing supply will only drive up prices.

“The developers are building what the market is wanting,” Kimball said. “People are looking for walkability, and this is a perfect location for that.”

Kimball said the developer will host a meeting at 6:30 p.m. Oct. 5 in the second floor caucus room at Carmel City Hall. The public is invited to ask questions, but it’s not an official city meeting and no decisions will be made. The meeting will allow the developer to listen to concerns from residents and explain what the project could look like.

Kimball said the plan commission will make necessary changes so the public is satisfied with the end result.

“There will be improvements that we will ask for,” he said. “It’s a process.”

Carmel Mayor Jim Brainard said he’s generally familiar with the initial proposal and would like to see some changes.

“The plan needs to be improved,” Brainard said. “They didn’t do a traditional block or grid system which is required in the planned unit development.”

The proposal includes a 6.2-acre common area, swimming pool, playground and picnic area.


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