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Indianapolis-based developer LOR Corp. plans to build a $250 million residential and commercial development with about 650 new homes near Morse Reservoir on the north side of Noblesville—the latest major project in the Hamilton County city.
Mayor Chris Jensen said Tuesday at his State of the City address that the 175-acre Morse Village would be built at the intersection of East 206th Street and Hague Road.
Plans for the community along Morse Reservoir call for 250 high-end single-family houses, 150 town houses and 250 multifamily residences. Morse Village would also feature 30,000 square feet of commercial space and restaurants.
Jensen said a new roundabout is planned at 206th and Hague to handle the traffic generated by the new development. Morse Village would have 30 acres dedicated to green space with more than six miles of trail connectivity around Morse Reservoir.
“It will truly be a gateway entry point to Morse Reservoir with the housing and amenities of the future for those that live up near the reservoir area,” Jensen said.
Morse Village would have three hubs: North Pointe, South Pointe and West Pointe. North Pointe would feature lakeside single-family, town house and multifamily housing with dining, retail and entertainment options. South Pointe would have single-family houses, green space and a centralized amenity area. And West Pointe would be the site of town houses and preserved landscape areas.
The development built on agricultural land would be near the Morse Lake Marina, Morse Park & Beach, Harbour Trees Golf and Beach Club and Wolfies Grill Noblesville.
The Morse Village project will begin moving through the city’s approval and zoning process in the coming months. LOR Corp. is led by CEO Adam Hill.
Morse Reservoir opened in 1956 after Cicero Creek was dammed near East 196th Street in Noblesville.
The 1,500-acre reservoir is owned by Indianapolis-based Citizens Energy Group and has a shoreline of 32 miles where development of high-end housing and golf courses began in the 1970s.
If it receives approval, Morse Village will be the latest large-scale development project to take shape in Noblesville.
Carmel-based PulteGroup of Indiana Inc. and Indianapolis-based TWG Development LLC are working to develop a 603-acre residential real estate project that is being built across Boden Road from Finch Creek Park and about two miles north of Ruoff Music Center. The development plan for the project calls for 1,930 total residences, including 1,335 single-family houses.
The city is also continuing to work with developers on Innovation Mile, a 600-acre district where the Noblesville Event Center and a facility for the Indiana Joint Replacement Institute are under construction and where suburban Detroit-based BorgWarner Inc. opened a $28 million, 100,000-square-foot facility in 2018.
The 120,000-square-foot Noblesville Event Center will have 3,400 seats and be the home arena beginning in 2025 for the Indiana Pacers developmental league team, which relocated last year from Fort Wayne and will play one more season at Gainbridge Fieldhouse in Indianapolis.
Indianapolis-based The Justus Cos. has been planning Promenade at Noblesville at the northeast corner of Little Chicago Road and State Road 32 since it acquired the property in 2013 from Equicor Development Inc. The development firm announced plans earlier this year to build a $7.3 million, 20,000-square-foot headquarters building at Promenade.
Promenade Apartments, which opened in 2020, has 15 apartment buildings with 300 studio, one-, two- and three-bedroom units at the northeast corner of State Road 32 and Little Chicago Road. Midwestern retail giant Meijer Inc. opened a 90,000-square-foot grocery store earlier this summer at the Promenade at Noblesville.
Construction on Promenade Trails, a 55-and-older active-adult community, is expected to be completed next year at the northwest corner of State Road 32 and Little Chicago Road in Noblesville.
Noblesville has also focused on building mixed-use projects like The Levinson, Lofts on Tenth, East Bank, Nexus the Village at Federal Hill around downtown. The five developments together total nearly 800 apartment units.
And on the south side of downtown Noblesville, Indianapolis-based Flaherty & Collins Properties has filed plans with the city to build a $67 million apartment development called The Granary along the Pleasant Street corridor at the former site of the Noblesville Milling Co.
“Our team will continue to take bold steps forward to move Noblesville into the future while preserving and honoring the historical assets in our city,” Jensen said.
Correction: An earlier version of this story stated an incorrect number of homes at Morse Village. Plans call for 650 total residences.
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Great to be in the construction business in all of Hamilton County.
We must be doing something right….Hamilton County is in a great space and time of economic growth.
The whole metro is Booming and will be for many years to come!