Mayor: ‘Financial gap’ delaying Kite project at 116th, Range Line  

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Dirt is moving on Kite Realty’s empty lot on the southwest corner of Range Line Road and 116th Street, but it’s not related to development of that site.

“I think they’re storing dirt. Another developer had some dirt available,” Carmel Mayor Jim Brainard said.

In 2016 Kite unveiled plans for a $15 million to $20 million mixed-use development called The Corner on the site that would include commercial uses on the first floor and more than 200 residential units above it.

More than a year later Kite demolished the existing strip mall. Since then the land has sat vacant as the developer and City of Carmel try to reach an agreement on the project.

“Unfortunately there are still negotiations going on with the city at that site,” Brainard said. “There’s a financial gap we’re trying to work through with our proposed partnership.”

The mayor declined to elaborate on specifics of the gap but said it’s not unusual for public private partnerships to undergo lengthy negotiations before a deal is reached.

Overall plans for the site haven’t changed much during the wait, Brainard said.

“We still want to see a gateway building, a mixed-use building with retail on the ground floor that has a parking structure hidden from view, a building comparable to others built in the city center,” he said. “(It will be) a beautiful entrance into Carmel as you’re driving down Range Line Road.”

Officials from Kite did not respond to requests for comment as of press time.

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