{"id":1004091157,"date":"2014-02-11T12:05:20","date_gmt":"2014-02-11T20:05:20","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=238472"},"modified":"2020-04-13T23:27:11","modified_gmt":"2020-04-14T07:27:11","slug":"keystone-realty-plans-to-develop-5-3-acre-residentialretail-project-in-carmels-old-meridian-district","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/keystone-realty-plans-to-develop-5-3-acre-residentialretail-project-in-carmels-old-meridian-district\/","title":{"rendered":"Keystone Realty Plans to Develop 5.3-Acre Residential\/Retail Project in Carmel\u2019s Old Meridian District"},"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 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5.4pt;\n\tmso-para-margin-top:0cm;\n\tmso-para-margin-right:0cm;\n\tmso-para-margin-bottom:10.0pt;\n\tmso-para-margin-left:0cm;\n\tline-height:115%;\n\tmso-pagination:widow-orphan;\n\tfont-size:11.0pt;\n\tfont-family:\"Calibri\",\"sans-serif\";\n\tmso-ascii-font-family:Calibri;\n\tmso-ascii-theme-font:minor-latin;\n\tmso-hansi-font-family:Calibri;\n\tmso-hansi-theme-font:minor-latin;\n\tmso-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\/2014\/02\/Sophia-Square-in-Carmel.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-238473\" title=\"Sophia Square in Carmel\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/Sophia-Square-in-Carmel.jpg\" alt=\"\" width=\"300\" height=\"199\" \/><\/a>by Adriana Pop, Associate Editor <\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Keystone Realty Group of Indianapolis is proposing the construction of a new five-story mixed-use building in Carmel. According to the <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.ibj.com\/developer-planning-sophia-square-sequel-near-meridian-street\/PARAMS\/article\/45917\" target=\"_blank\" rel=\"nofollow\">Indianapolis Business Journal<\/a><\/em>, plans call for 200 luxury apartments and ground-floor retail on a 5.3-acre site located southwest of the roundabout at Old Meridian and Main streets. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Upon completion, the new development known as Sophia Pointe will offer a mix of one- and two-bedroom units, 14,000 square feet of retail space and structured parking. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The Carmel Clay Plan Commission is currently reviewing the developer\u2019s request to allow for the construction of the approximately 89-foot building, which would exceed the city\u2019s current development standards by about 35 feet. The project will then go before the Carmel Board of Zoning Appeals. <span style=\"mso-spacerun: yes;\">\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Keystone expects to break ground on the Sophia Pointe complex this summer and have the residences ready for occupancy by 2015. <span style=\"mso-spacerun: yes;\">\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The company has also developed the $60 million Sophia Square residential and retail complex (<em style=\"mso-bidi-font-style: normal;\">pictured<\/em>) located about a mile from the site of the new project. The property opened in May 2011 and features about 200 upscale apartments, 94 percent of which are occupied, ground-floor retail and a two-level underground parking garage. <span style=\"mso-spacerun: yes;\">\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Other mixed-use developments in the city\u2019s Old Meridian district include Buckingham Cos.\u2019 Providence at Old Meridian, a 23-acre master-planned community consisting of apartment homes, townhomes, recreational amenities, parks, and street-front retail. Furthermore, Edward Rose Properties is planning the construction of \u201c<em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.commercialsearch.com\/news\/cities\/indianapolis\/edward-rose-plans-80m-mixed-use-development-in-carmel\/\">The District<\/a><\/em>,\u201d an $80 million mixed-use complex that would bring 400 apartments, a four-story parking garage, retail space, 65 single-family town homes, a senior-living community and a 100-plus-room boutique hotel. <\/span><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\">Photo credits: 110sophiasquare.com<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Keystone Realty Group of Indianapolis is proposing the construction of a new five-story mixed-use building in Carmel. According to the Indianapolis Business Journal, plans call for 200 luxury apartments and ground-floor retail space on a 5.3-acre site located southwest of the roundabout at Old Meridian and Main streets.<\/p>\n","protected":false},"author":260,"featured_media":1004507126,"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-1004091157","post","type-post","status-publish","format-standard","has-post-thumbnail","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) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Keystone Realty Plans to Develop 5.3-Acre Residential\/Retail Project in Carmel\u2019s Old Meridian District - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/keystone-realty-plans-to-develop-5-3-acre-residentialretail-project-in-carmels-old-meridian-district\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Keystone Realty Plans to Develop 5.3-Acre Residential\/Retail Project in Carmel\u2019s Old Meridian District\" \/>\n<meta property=\"og:description\" content=\"Keystone Realty Group of Indianapolis is proposing the construction of a new five-story mixed-use building in Carmel. 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