Carmel approves plan for $15M parking garage

Rendering of Merchants Bank headquarters (Photo courtesy of City of Carmel via IndyStar)

CARMEL, Ind.– The Carmel City Council voted Monday to approve $15 million in bonds for a Midtown parking garage.

The garage, which will be built by Indianapolis-based Barrett & Stokely, will feature 370 spaces wrapped by 167 apartment units, according to our partners at the Indianapolis Star. The first floor will also have retail stores.

The structure will help after Merchants Bank moves its headquarters to a new, 100,000-square-foot office building, set to break ground later this year. The top four stories will be Merchants Bank, while the first floor will be used for retail and restaurants.

The project will be complete by 2019.

The council also approved up to $6 million in bonds for infrastructure at the Sunrise on the Monon residential development.

IndyStar reports Carmel-based Old Town Design Group will use the bonds for roadwork, a bridge and other infrastructure. Work has already begun on the development. It will include houses and apartments at 99th Street and Westfield Boulevard.

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