Noblesville Real Estate News
A giant chunk of land, 871 acres to be exact, is now for sale in Noblesville near the corner of 146th Street and Olio Road. Summit Realty Group is marketing the site, The Gatewood, and they are calling it the largest parcel of land available in Hamilton County. They are marketing the property to office, light industrial, retail and residential developers. The land is also just north of a 280 acre property that developer Gershman Brown Crowley holds an option to purchase with plan to build homes, offices, retail, and industrial companies.
This is a hot hot area in Hamilton County, but what would be the best use for this land? With Saxony just around the corner and still years away from being completed, could this area sustain another mega master planned community? They do acknowledge that there is a missing piece of the puzzle to developing this land, a bridge on Olio Road over I-69 that will be a vital connection for this piece of property. Luckily for them, the county and city have plans to build the $14 million bridge starting in 2010.
This will be very interesting to watch and has the potential to change Noblesville real estate and the city. They are hoping to fetch $85,000 - $100,000 per acre for the land, that's a cool $87,000,000!
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Date: Thursday, May, 22nd 2008 @ 09:06:01 AMViews: 303
This blog entry currently has 2 comments posted.
Mike Taylor
Yeah, I think the 100K per acre is wishful thinking especially in that area of Noblesville.
Posted on 2008-06-03 06:31:50
Sam Chapman
That is a pretty high price tag if someone is going to bring in residential. Homes will have to go on relatively small lots and will be very expensive. Or large, really expensive homes will go on largeer lots. Either way, it's going to cost.
Posted on 2008-06-03 06:28:55