Anderson Birkla Investment Partners hopes to begin work in early 2016 on a $60 million redevelopment project called the Proscenium at the former Party Time Rental site along Range Line Road in Carmel, Indiana.
Anderson Birkla has proposed a 236,017-square-foot apartment complex with 224 units, 60,000 square feet of offices and 20,000 square feet of retail. The developer also would build a parking structure with 449 spaces and a large community gathering space.
He named the project the Proscenium — the front part of a stage — because it will be the entryway into Carmel’s expanding urban core.
“We feel like we are the front door to Carmel, the Proscenium to City Hall, City Center, Midtown and then Main Street,” he said.
Mayor Jim Brainard and the Carmel Redevelopment Commission have been searching for years to find a partner to redevelop the 6.5-acre site into homes, offices and retail.
The shuttered warehouse is in a prominent location the commission bought in 2012.