Lumber prices delay Lofts on Tenth construction in downtown Noblesville 

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At the Noblesville Common Council meeting Aug. 24, PT17 Development co-owner Darren Peck told Noblesville councilors that because of lumber prices, framing for the Lofts on Tenth mixed-use project on 10th Street between Clinton and Wayne streets was delayed several months, but work now is expected to begin soon.

Framing and a framing crew are scheduled to arrive Sept. 1.

The project broke ground in September 2020, and crews worked through the winter to establish underground utilities and concrete work. 

“We had been looking at framing for quite a while, and we started getting framing numbers in November (2020) and secured a deal to get framing until it was time to send the contract, and it was exactly twice the price,” Peck said. “It was a big number to begin with, but times two was a reason to put the brakes on.”
Peck said PT17 Development approached other lumber suppliers during the following two months seeking a more reasonable price for the framing materials. One option could have been delivered in June but would have cost considerably more. Now, a lumber supplier is set to deliver the framing materials Sept. 1. Peck did not state what the final price was nor the budgeted amount, and the numbers were not available in the common council agenda documents. But Peck said the materials were secured for “a reasonable number.”  

Since the lumber obstacle, PT17 Development has secured all other materials, such as HVAC units, roofing, the elevator, appliances, flooring, masonry and plumbing. When the framing crew and materials arrive, construction will begin on the north building. Following the north building, construction will begin on the garages, followed by construction on the south building. 

Peck said he anticipates a December or January finish time.

For more, visit cityofnoblesville.org. 


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