Klipsch Music Center is about to get new neighbors. The Noblesville Common Council approved plans from Fishers-based Boomerang Development LLC to build Noble East, a $150 million community off Boden Road.
Developer Corby Thompson said the development will include 497 lots in three neighborhoods north of 156th Street. It will be built in phases over the next eight years, Thompson estimated.
“Sixty homes a year is a success,” he said.
Most of the houses are expected to sell for $275,000 to $350,000 and homes along Lehr Creek are estimated to be $425,000 to $450,000. Ryland Homes and Pulte Homes will be builders on the property. Thompson said the development will raise the assessed value to $500,000 per acre for the 260-acre project.
Noble East is adjacent to 200 acres of city-owned land slated to become Eastside Park, which allows Boomerang to take advantage of the city’s new open space policy. Noblesville is allowing developers to pay a fee to reduce open space requirements in residential areas near public parks. According to the policy, the city must use the funds to begin building the park.
Thompson said Boomerang will reclaim 11.37 acres, which reduces the development open space from 28 percent to just over 23 percent. He said that payment and other park impact fees for the project will total approximately $1 million.
The development will have no impact on Noblesville Schools as the Wayne Township property falls in the Hamilton Southeastern Schools district.
What happened: Resolution for tax phase-in
What it means: LeMaster Steel Erectors received a two-year tax phase-in on the increase in assessed valuation resulting from the construction of a new 10,625 square foot at 17540 Kraft Ct. The company has outgrown its current space in the Stony Creek Business Park and has had a Noblesville branch for the past 30 years.
What’s next? LeMasters’ capital investment is approximately $830,000. The business retention will keep 48 employees in Noblesville with five new hirings expected by 2017.
What happened: Amending the salary ordinance
What it means: Noblesville police K9 officers are paid one hour a day or 365 hours a year to care for their dogs, which live with the officers. In an effort to be more efficient, Deputy Mayor Mike Hendricks said the city will create a stipend for the extra care instead of manually inputting the time each pay period.
What’s next? The police department has three K9 units. Hendricks said the pay will be $10,500 a year, the average cost of the three officers.
What happened: Reimbursement of design and construction costs
What it means: The city has entered into an agreement to purchase 50 acres of land in the northern part of the Stony Creek-Presley Drive development. City Attorney Mike Howard said plans are to construct road, sanitary sewer and drainage improvements. The total cost of the project is $5 million and the city will pay $1.5 million prior to June 1.
What’s next? Howard said the city can use TIF funds instead of issuing a bond and reimburse itself down the road.
What happened: Public comment from the Noblesville School Board
What it means: Speaking on behalf of the school board, president Pat Berghoff commented on the board’s opposition to the potential multi-family project at Chicago Road and Ind. 32. Berghoff said that high density housing in the south quadrant of Noblesville puts a strain on schools, which is currently redistricting at the elementary level to balance enrollment.
What’s next? The proposed project was indefinitely tabled by the developer prior to the meeting. The council was scheduled to vote on the project on Jan. 28.