The Levinson, a project that will bring more apartments, parking and retail space downtown, is a go after the Noblesville Common Council approved the issuance of Indiana Taxable Economic Development Revenue Bonds at its Jan. 15 meeting.
The bonds are not to exceed $19.1 million. They will be used to start the project with site development work, the parking garage and portions of the overall mixed-use building.
The project by Rebar Development will be constructed in the half-block space just south of the square, bordered by Eighth and Ninth streets, Maple Avenue and the east/west alley just south of Conner Street. Currently, the area is home to a city-owned parking lot and a building that houses Holt Legal Group and Ayer’s Real Estate.
Councilor Brian Ayer, who owns Ayer’s Real Estate, recused himself from the vote and discussion, and councilor Mark Boice was absent from the meeting. The ordinance passed 7-0.
Added parking is a main feature of the project because the city has been working to solve some of its parking issues in past years with the creation of the Noblesville Parking Task Force, which decided a parking garage would be beneficial.
With parking levels above and below ground, The Levinson will have 337 parking spaces, 237 to 287 of which will be public. The rest will be for apartment residents. The addition of public spaces is 167 because the project is being built on an existing lot.
The development’s ground level will be for retail storefronts and a 2,000-square-foot lobby, something Shelby Bowen, president Rebar Development, has said will be an ode to downtown Noblesville, with photos and artifacts from the city’s history.
An ordinance passed at the meeting cites that the Noblesville Common Council had previously found several reasons for approving the project, which will bring the first new apartments to downtown Noblesville in more than 100 years.
The ordinance states that the project “will increase employment opportunities and increase diversification of economic development in the city … will improve and promote economic stability, development and welfare in the city, will encourage and promote the expansion of industry, trade and commerce in the city … that the public benefits to be accomplished by this bond ordinance are greater than the cost of public services.”