NOBLESVILLE, IN (August 15, 2023) – The Noblesville City Council approved an economic development agreement with PulteGroup of Indiana and TWG Development to develop approximately 603 acres in previously annexed east Noblesville into a mixed-use development. The project, which is bound by 156th Street, 166th Street, Boden Road and Olio Road, is estimated to have a market value of over $700 million when completed.
“Expanding our city’s footprint in Wayne Township was the goal when we reached an amended agreement with HSE Utilities back in 2021. This project will be the first to extend a sanitary sewer to that location and will further open development opportunities in Wayne Township,” Mayor Chris Jensen said.
The development plan consists of:
- 295 market-rate multi-family apartments, with a planned phase II of up to 200 additional market-rate units and up to 100 for sale dwelling units such as townhomes, condos, flats, stacked flats, or similar types.
- 10,000 square feet of commercial/retail space with a minimum of 5,000 square feet within the multi-family project.
- 690 age-restricted single family Del Webb units.
- 535 traditional single family and 110 specialty housing dwelling units.
- A 14,000-square-foot amenity center that includes an indoor pool, along with sport courts, pocket parks, internal trail system, yoga areas, chain of lakes water feature and other passive areas.
“PulteGroup presented us with a multi-generational development with a wide range of housing products and price points to address needs identified by the 2021 Housing Study Update and fits the Future Land Use Map of the 2020 Noblesville Comprehensive Plan,” said Jensen. “This development also invests in expanding our quality of place emphasis which will allow Noblesville to attract and retain quality talent to serve our business needs.”
As part of the Economic Development Agreement, PulteGroup has committed to improving the public infrastructure around the project including the resurfacing and widening of Boden Road, 156th Street, 166th Street and Olio Road. PulteGroup also will pay the city’s $400,000 portion of the Federal Highway Matching Grant to construct a roundabout at 166th Street and Boden Road. Perimeter pedestrian paths will be constructed as part of the project, adding to public trail systems on the east side of Noblesville.
As part of the agreement, the city commits up to $10.8 million in net proceeds to offset initial project infrastructure costs. The source of the funding will come from the project’s tax increment.
About the City of Noblesville: Noblesville is the 9th largest city in Indiana, home to more than 71,000 residents, and the county seat in Hamilton County, Indiana. Just north of Indianapolis, the growing city is known for its nationally recognized public schools, extensive public park system, Hamilton Town Center, and the outdoor music venue Ruoff Music Center.