CARMEL, Ind. (AP) _ Work could begin as early as next year on a $60 million redevelopment project in the Indianapolis suburb of Carmel that includes a 224-unit apartment complex and office and retail space.
The Carmel City Council is expected to vote Dec. 7 on infrastructure incentives for the project called the Proscenium at the former Party Time Rental site. The Indianapolis Star (http://indy.st/1le1jtI ) reports the council's finance committee recommended approving the incentive package Thursday.
The project proposed by Anderson Birkla Investment Partners would also include a 449-space parking structure and a large community gathering place. Company Principal Tony Birkla hopes to have the project open in late 2017.
Under an agreement with the city, Anderson Birkla would buy the land for about $50,000 and pay $4.6 million toward the $10.5 million in infrastructure costs.
