{"id":1004094716,"date":"2014-04-15T08:47:06","date_gmt":"2014-04-15T16:47:06","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=253877"},"modified":"2020-05-10T21:44:06","modified_gmt":"2020-05-11T05:44:06","slug":"pittman-barrett-stokely-plan-35m-high-end-multi-family-community-in-carmel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pittman-barrett-stokely-plan-35m-high-end-multi-family-community-in-carmel\/","title":{"rendered":"Pittman, Barrett &amp; Stokely Plan $35M High-End Multi-Family Community 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\/2014\/04\/Mainstreet-on-the-Moon-in-Carmel.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-253878\" title=\"Mainstreet on the Moon in Carmel\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/04\/Mainstreet-on-the-Moon-in-Carmel.jpg\" alt=\"\" width=\"300\" height=\"217\" \/><\/a>by Adriana Pop, Associate Editor <\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Construction could soon begin on a luxury 14-building, 256-unit apartment community near the Monon Greenway in Carmel.<\/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\/north-of-96th-2014-04-10-construction-season-looms-for-high-end-carmel-apartments\/PARAMS\/post\/47123\" rel=\"nofollow\" >Indianapolis Business Journal<\/a><\/em>, developer Pittman Partners and multifamily specialist Barrett &amp; Stokely Inc. are planning to build the $35 million complex known as The Seasons of Carmel on 21 acres at Westfield Boulevard and 98th Street. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Upon completion in about a year, the complex will offer a mix of one-, two- and three-bedroom apartments, each with its own garage. Amenities will also include a swimming pool, a fitness center, multi-use trails connecting to the Monon, a cyber caf\u00e9, and community meeting space.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Pittman Partners principal Steve Pittman told the newspaper that the new apartments would lease for an average of $1.15 per square foot, a high rate considering that the average rents in Carmel, Westfield and Zionsville range from 74 cents per square foot to $1.23 per square foot, according to Tikijian Associates.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Other multi-family properties developed by Barrett &amp; Stokely Inc. in Carmel include the Main Street on the Monon (<em style=\"mso-bidi-font-style: normal;\">pictured<\/em>) and the Old Town on the Monon. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In regional news, the <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.ibj.com\/revamped-hotel-key-to-muncie-revitalization-efforts\/PARAMS\/article\/47050\" rel=\"nofollow\">Indianapolis Business Journal<\/a><\/em> reports that The Lofts at Roberts apartments in downtown Muncie are about to welcome their first tenants. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Developed by Miller Valentine Group of Cincinnati, the property resulted from the renovation of the former Roberts Hotel, a historic structure which dates back to the 1920s. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The $17 million redevelopment brought 83 one- and two-bedroom residences reserved to income-eligible renters who are 55 and older. Due to the particular features of the historic building, residents may choose between 27 different floor plans.<br \/>\n<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Amenities include controlled-access entry, energy-efficient design and appliances, fully equipped kitchens with breakfast bar, on-site management, 24-hour emergency maintenance, high-speed Internet, a community lounge, fitness center, business center and theater room. <\/span><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\">Photo credits: www.mainstreetonthemonon.com<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Construction could soon begin on a luxury 14-building, 256-unit apartment community near the Monon Greenway in Carmel.<\/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-1004094716","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) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Pittman, Barrett &amp; 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