Old Town, Barrett & Stokely Unveil Mixed-Use Residential Project in Carmel
- Apr 03, 2015
by Adriana Pop, Associate Editor
Old Town Development has partnered with Barrett & Stokely for the construction of the $45 million Midtown West residential complex in Carmel.
The new mixed-use project will be part of the city’s emerging $150 million Midtown live-work-play community, for which Old Town Development is the lead developer. The community is slated to rise on the former site of the Carmel Street Department, on a more than 11-acre area between Carmel City Center and the Arts & Design District.
Midtown West will feature about 250 residential units, 200 of which will be one- to two-bedroom rental apartments, while the remaining 50 units will be two- to three- bedroom condominiums. Plans also call for a ground floor restaurant anchor, a 550-space parking garage, with up to 100 spaces open to the public, as well as a rooftop swimming pool and fitness center overlooking the Monon Greenway.
Construction on the complex, which will comprise two mid-rise buildings connected by a sky-bridge, is scheduled to begin in late fall 2016.
Last month, Old Town Development has also announced the first component of the larger Midtown project – a $16 million four-story building that will house The Edison Business Lounge and Vintage Coffee/Wine Bar. The facility offers 20,000 square feet of co-working space for entrepreneurs, small companies and others seeking space to collaborate and network.
“We knew when we announced the overall Midtown project last fall that it would draw interest from residents and businesses who want to live and work and play near Carmel’s bustling Arts & Design District and City Center,” noted Justin Moffett, founding partner of Old Town Development. “But we have been pleasantly surprised at how quickly these projects are coming together.”
Upon completion over the course of several years, the overall Midtown community could include more than 200,000 square feet of office space, 270 flats and condominiums and as much as 85,000 square feet of commercial and retail space.
Photo credits: www.midtowncarmel.com