Pebble Brook Crossing in Noblesville would include a mix of two-story and ranch-style homes. (Image courtesy of Platinum Properties Management Co. LLC)
The Noblesville City Council heard proposals this week for two separate residential real estate developments that would create nearly 130 new residences in the city, including an additional 75 luxury homes near a golf course and 50 affordable housing options.
Representatives from Indianapolis-based Platinum Properties Management Co. LLC and Carmel-based T&H Investments LLC presented their plans to the council Tuesday for consideration. The council could approve the developments as soon as this month.
Platinum Properties and Kentucky-based homebuilder Drees Homes are looking to build a 41-acre residential development near Pebble Brook Golf Club on Noblesville’s west side.
Pebble Brook Crossing would feature 76 single-family homes with median prices of $525,000, according to Jon Dobosiewicz, a land use professional with Carmel-based Nelson & Frankenberger LLC, who represented the developer and builder at Tuesday’s council meeting. .
The development would be located near the intersection of East 191st Street and Moontown Road. A price tag for the project was not provided.
The residences would feature a mix of 1,800-square-foot ranch-style homes and 2,500-square-foot two-story homes.
The development would be arranged from north to south with six houses facing East 191st Street followed by four clusters of 12 houses situated on cul-de-sacs. A line of houses on the east side of the site would be neighbors of the Pebble Brook Golf Club.
Dobosiewicz said the trees in the forested southern half of the site would be preserved and a pond with a fountain would be built.
The developers would also build a golf cart path that leads from the neighborhood to the golf club.
Stony Creek Townhomes
T&H Investments plans to build 53 two-story row houses that would provide an affordable housing option in Noblesville.
The $14 million development would be built on five acres of land at 1255 S. 16th St., near the Noblesville Street Department.
Units at Townhomes at Stony Creek would each be two stories and include up to 1,400 square feet of living space, three bedrooms and 2-1/2 baths.
Noblesville-based Family Promise of Hamilton County, which provides services for the homeless and housing insecure, would work with people living in Townhomes at Stony Creek, according to Nancy Ramsey, the organization’s executive director.
Ramsey said at Tuesday’s council meeting that the row houses would start as subsidized rental units that would serve people earning between 50% and 80% of the area median income.
A study released this year by the Noblesville Housing Authority on behalf of the Hamilton County Housing Collaborative found that homeownership was essentially out of reach in the county for families earning less than $65,280. Even families earning nearly $98,000 a year could afford only 28% of new construction in the county.
“Given the state of affordable housing within our communities, this is a very timely development,” said Ramsey.
Expected rental amounts were not available.
Brian Tuohy, an attorney with Indianapolis-based law firm Tuohy Bailey & Moore LLP, said the development would be built on land that has been vacant for 15 years.
The land was rezoned in 2016 to allow for up to 63 three-story row houses.