Noblesville’s fifth park broke ground Sept. 10 after months of planning and designing.
Set to open next fall the nearly seven-acre park is immediately north of Conner Street, east of Nixon Street, south of Logan Street and west of Ind. 19.
To serve as an economic driver of the city’s newly announced Riverfront Redevelopment District, the city says the park will operate year-round.
In November, the Noblesville Common Council approved $6 million in funding to build the park. Funding will come from the Logan Street TIF District, which pulls money from the tax base of Noblesville and can be used for city projects.
The city has said the park could bring in approximately $1.3 to $1.6 million each year. Based on those amounts, the $6 million invested in the building of the park would be made back between six and eight 1/2 years.
The city has also said surrounding properties to the park are expected to see a 12 to 15 percent property value increase upon the park’s completion.
