{"id":1004088984,"date":"2013-12-23T14:07:49","date_gmt":"2013-12-23T22:07:49","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=228285"},"modified":"2020-05-08T00:28:44","modified_gmt":"2020-05-08T08:28:44","slug":"pedcor-to-expand-massive-city-center-mixed-use-development-in-carmel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pedcor-to-expand-massive-city-center-mixed-use-development-in-carmel\/","title":{"rendered":"Pedcor to Expand Massive City Center Mixed-Use Development in Carmel"},"content":{"rendered":"<p><!--[if gte mso 9]><xml><br \/>\n<o:OfficeDocumentSettings><br \/>\n<o:AllowPNG\/><br \/>\n<\/o:OfficeDocumentSettings><br \/>\n<\/xml><![endif]--><\/p>\n<p><!--[if gte mso 9]><xml><br \/>\n<w:WordDocument><br \/>\n<w:View>Normal<\/w:View><br \/>\n<w:Zoom>0<\/w:Zoom><br \/>\n<w:TrackMoves\/><br \/>\n<w:TrackFormatting\/><br \/>\n<w:HyphenationZone>21<\/w:HyphenationZone><br \/>\n<w:PunctuationKerning\/><br 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Name=\"Book Title\"\/><br \/>\n<w:LsdException Locked=\"false\" Priority=\"37\" Name=\"Bibliography\"\/><br \/>\n<w:LsdException Locked=\"false\" Priority=\"39\" QFormat=\"true\" Name=\"TOC Heading\"\/><br \/>\n<\/w:LatentStyles><br \/>\n<\/xml><![endif]--><!--[if gte mso 10]><\/p>\n\n\n\n\n<style>\n \/* Style Definitions *\/\n table.MsoNormalTable\n {mso-style-name:\"Table Normal\";\n mso-tstyle-rowband-size:0;\n mso-tstyle-colband-size:0;\n mso-style-noshow:yes;\n mso-style-priority:99;\n mso-style-parent:\"\";\n mso-padding-alt:0cm 5.4pt 0cm 5.4pt;\n mso-para-margin-top:0cm;\n mso-para-margin-right:0cm;\n mso-para-margin-bottom:10.0pt;\n mso-para-margin-left:0cm;\n line-height:115%;\n mso-pagination:widow-orphan;\n font-size:11.0pt;\n font-family:\"Calibri\",\"sans-serif\";\n mso-ascii-font-family:Calibri;\n mso-ascii-theme-font:minor-latin;\n mso-hansi-font-family:Calibri;\n mso-hansi-theme-font:minor-latin;\n mso-fareast-language:EN-US;}\n<\/style>\n\n\n\n\n<p><![endif]--><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/12\/Carmel-City-Center.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-228289\" title=\"Carmel City Center\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/12\/Carmel-City-Center.jpg\" alt=\"\" width=\"300\" height=\"203\" \/><\/a>by Adriana Pop, Associate Editor <\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Developer Pedcor Cos. is planning to invest between $80 million and $100 million in the expansion of its major commercial and residential Carmel City Center development.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">According to the <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.ibj.com\/city-center-expansion-plans-could-cost-100m\/PARAMS\/article\/45152\" rel=\"nofollow\" >Indianapolis Business Journal<\/a><\/em>, the addition will bring four mixed-use buildings, a parking garage with ground-floor commercial space, as well as an expansion of the Pedcor Square office complex. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">A pair of four-story structures known as The Baldwin and The Chambers will rise south of Carmel City Center. The new development will feature office and commercial space on the first two floors, while the upper floors will include residential units.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Plans also call for The Holland, a five-story building along the east side of the Monon Trail, with first-floor commercial and four floors of residential or office space; The Wren Towers, a six- or seven-story commercial and residential building just west of The Baldwin and City Center; a four- or five-level parking structure with 650 spaces; and a two-story office building known as Five Pedcor Square. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Bruce Cordingley, Pedcor&#8217;s president and CEO told the newspaper that the timing and financing of the new developments would be determined after discussing the project with the Carmel City Council and city development groups early next year.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In August 2010, Pedcor completed the first phase of the Carmel City Center development, which brought 106 apartments to the market, along with 62,000 square feet of commercial space. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Another addition to the complex is currently under construction. Called The Nash, a three-story mixed-use building rising on the west side of Rangeline Road will feature 31 one-, two- and three-bedroom apartments, 8,000 square feet of street level commercial space, as well as 42 underground parking spaces. Pedcor&#8217;s investment in this phase of the project amounts to approximately $10 million.<\/span><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\">Photo credits: Pedcor Cos.<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Developer Pedcor Cos. is planning to invest between $80 million to $100 million in the expansion of its major commercial and residential Carmel City Center development.<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1590,21742],"tags":[1815],"class_list":["post-1004088984","post","type-post","status-publish","format-standard","hentry","category-indianapolis","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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