Carmel city council approves bonds for Gramercy redevelopment


The Carmel City Council met June 17 to approve bonds for the Gramercy and Carmel Marketplace redevelopment project, create a new staff position and discuss regulation of short-term rentals of residential pools. 

What happened: The council voted 7-2 to approve an ordinance issuing $53 million in developer-backed bonds to support the Gramercy and Carmel Marketplace redevelopment project. 

What it means: The project is planned between Carmel Drive and 126th Street primarily west of the existing Gramercy Apartments. The Marketplace area at the south end of the project is proposed at the home of the 502 East Event Centre and adjacent businesses. More than 1,000 dwellings are set to be added.  

What’s next: The project will be built in phases over the next decade. 


What happened: The council amended the 2024 salary ordinance to add the position of chief infrastructure officer to the Carmel Engineering salary budget. 

What it means: Longtime city engineer Jeremy Kashman was promoted to the new position, which is responsible for overseeing the planning, development, maintenance and improvement of all city infrastructure, including engineering, utilities and street departments, according to a press release. 


What happened: The council introduced an ordinance setting guidelines for short-term rentals of residential pools and other non-dwelling spaces. 

What it means: The proposal implements a similar process already in place regulating the short-term rental of homes through websites like Airbnb or Vrbo. Proposed regulations include requiring a special exception permit to rent out the space, limiting rental hours from 10 a.m. to 8 p.m. and limiting the group size to no more than 10 people. 

What’s next: The council’s Land Use and Special Studies Committee will discuss the ordinance before sending it back to the full council for a vote.