Noblesville officials and Rebar Development announced Aug. 24 that they will present The Levinson, a $24.3 million mixed-use project, to the Noblesville Common Council at its next meeting Aug. 28.
“The Levinson will be an architecturally significant building in the heart of downtown that will provide commercial space, modern apartment homes, and a parking garage in Downtown Noblesville,” a press release from the city stated.
“We are proud to present The Levinson to the council and have worked to ensure the project will meet many of the objectives in the PLANoblesville Comprehensive Plan,” Rebar Development President Shelby Bowen said. “The Levinson will attract and retain millennials, empty-nesters, high-earning and workforce professionals to downtown—serving as an economic driver for Noblesville restaurants and businesses.”
The proposed project includes 73 market-rate and 10 affordable-rate studio, one- and two-bedroom modern apartments with a rooftop deck and contemporary amenities, all on a half block just south of the square, bordered by Eighth and Ninth streets, Maple Avenue and the east/west alley south of Conner Street.
Additionally, the 2,000-square-foot lobby along Eighth Street could include a public exhibit of the history of downtown Noblesville. Along Ninth Street, 5,100 square feet of commercial space will be available for retail, office, or a restaurant.
“Rebar’s plans create the first new apartment building downtown in more than a century, and it will help bring urban density to our square to support our local businesses, restaurants and shops,” Mayor John Ditslear said. “Not only will it add to the local landmarks in our city, but it will attract additional downtown development interest and set a high bar for quality. It also provides Noblesville’s first parking structure in downtown.”
The project includes a four-level, 337-space parking garage. A minimum of 237 spaces will be available for paid public parking.
“We have long believed a public parking garage is an essential component to address current, perceived and real, parking challenges. Through this public-private project, we will expand our downtown parking capacity inventory by 167 spots – more than doubling the number of current off-street public parking options,” said Noblesville Chamber of Commerce President Bob DuBois, who also leads the city’s parking task force committee. “Surface parking lots, while functional, are not the best land use strategies to sustain and enhance a vibrant downtown. We are excited to see a creative reuse of these valuable parcels. This is a win for Noblesville now and Noblesville’s future.”
As part of the developer’s agreement, the city is planning to use an economic development bond to fund $16 million, including $13.2 million for the public parking garage. The city said it expects to garner nearly $185,000 annually for 25 years generated in tax-increment financing by $8.8 million in new assessed value for the project, in addition to revenue from parking permits and hourly fees.
This story will be updated.
