Martin Marietta, operator Noblesville Stone and Noblesville Sand and Gravel and a supplier of construction materials, could be venturing into developing homes immediately to the west of its Noblesville facility.
At it’s June 11 meeting, the Noblesville Common Council was introduced to a preliminary development plan for Cherry Tree Manors, a single-family housing development at 15160 and 15194 Cherry Tree Rd., presented by Martin Marietta Materials, Inc and Martin Marietta Materials Real Estate Investments, Inc., the joint developer.
The company is requesting that nearly 60 acres of land be rezoned R2 Residential so it can develop 23 homes on the southern half of the property.
Tim Ochs, an attorney from Ice Miller, on behalf of Martin Marietta, presented the plan that, in addition to homes, proposes a large lake, green space and other amenities like pickleball courts and more than 5,000 feet of pathways.
Ochs said the Martin Marietta companies usually are interested in land for the sole purpose of mining. However, with this development, they plan to do mining and then later build out the housing.
“What is being proposed is a preliminary development plan and a PUD that would allow that first mining,” Ochs said. “(We) don’t know how long that would take, but we’re thinking maximum 15 years, likely far less that than. When we’re done, we’d be building 23 lake-front lots, which are sought after in Hamilton County.”
Ochs said each lot would be 90 feet wide and a minimum of 15,000 square feet. The homes are being estimated now at more than $400,000, perhaps more than $500,000, something Ochs said can be attributed to each property being lakefront.
Though Martin Marietta already owns the land, a builder for the project has not been chosen because construction would not begin on the homes in at least five years, Ochs said.
Because the proposal was only introduced, the council did not take any action.