In Carmel, Indiana, the Carmel Redevelopment Commission has issued a request for proposals to find someone to redevelop the PNC Bank property at the northeast corner of Main Street and Rangeline Road.
The RFP covers 1.7 acres, including parts of the PNC property and an adjacent 1.2-acre site the city also owns. The RFP “is the first step in the process to redevelop the land into a mixed-use development that will bring more residents, more jobs and more opportunities for small businesses to the Arts & Design District,” the city says.
As part of the agreement, PNC will remain on the property during construction and after the land is redeveloped.
The property at a high-profile intersection near the Monon Greenway, Carmel High School, Carmel Clay Library and Midtown.
The CRC said it is seeking a for-profit developer to propose and construct a development that will enhance and anchor the intersection. Requirements of the project call for:
- A mixed-use development with architectural design characteristics commensurate with neighboring developments and the city’s vision for Main Street;
- Retail space within the mixed-use development, including a bank branch;
- Adequate underground on-site parking for the development and the public, of which 25 percent of total parking may be reserved for the development;
- A setback on the southwest corner featuring the Carmel Rotary Clock; and
- Provide storm-water management for the parcels and coordinate storm-water management to include surrounding areas and existing city infrastructure coming from properties to the north, west, east, and south.
The CRC said it will give preference to bidders that also provide for-sale residential uses, office uses and a small public plaza around the rotary clock.
“This particular parcel is already receiving some national attention, so we expect the competition for the winning proposal to be intense,” says CRC Executive Director Henry Mestetsky.
The CRC will meet May 1, 2019 to open and review the proposals.
Image via Google Maps.