Indianapolis, IN

Developer planning $123M third phase of Carmel's Proscenium project – Indianapolis Business Journal

Published

2 years ago

July 16, 2024

Developer planning 3M third phase of Carmel's Proscenium project – Indianapolis Business Journal

Proscenium III would be built on the northwest side of the roundabout at South Rangeline Road and Executive Drive. (Rendering courtesy city of Carmel)

A developer with plans for a $123 million third phase of the Proscenium complex in Carmel is seeking $19 million in tax-increment financing bonds for the project.

Carmel-based Novo Development Group LLC and the city of Carmel are looking to partner to construct Proscenium III at the northwest corner of the roundabout at South Rangeline Road and Executive Drive.

If built according to current plans, the development will feature 151 apartments, a 125-room boutique hotel, 63,000 square feet of office space, 15,000 square feet of retail space, 508 parking spaces and a public plaza.

“This is a project that is being driven by the need for office because we know that some office users are still moving into new headquarters,” Carmel Redevelopment Commission Director Henry Mestetsky told City Council members. “And, frankly, for every new office move that exists, they’re really picking between Bottleworks [in Indianapolis], Carmel and downtown Fishers when we need to make sure that they pick us.”

Proscenium III would be built on land west of Carmel City Hall currently occupied north-to-south by three single-family houses, a city-owned parking lot and an office building.

The project would be bounded by the Zeta Tau Alpha International headquarters (1036 S. Rangeline Road) to the north, South Rangeline Road to the east, Executive Drive to the south and Veterans Way to the west.

A 125-room hotel is planned at Proscenium III in Carmel. (Rendering courtesy city of Carmel)

According to preliminary renderings, the boutique hotel would be built closest to the roundabout. Two office buildings would be built to the north along South Rangeline Road and an apartment building with a public plaza would be on the west side of the development along Veterans Way.

“We spent a lot of time on the architecture of the boutique hotel,” Novo Development Group founder Tony Birkla told councilors. Birkla Investment Group is the holding company for Novo Development Group.

Proscenium III would also have a 300-space parking garage, a 160-space parking garage and a 48-space surface parking lot. Eighty percent of the spaces would be open to the public, while the remaining spaces would be reserved for business and residential tenants.

“This is a project that is a primarily an office and luxury hotel project. This is not an apartments-first kind of project,” Mestetsky said. “This is what is desperately needed in the core, more walkable office, more walkable upscale hotel.”

The Carmel City Council’s Finance, Utilities and Rules Committee will next review Novo Development Group’s proposal to receive $19 million in developer-backed tax-increment financing bonds for the project. The developer would receive 95% of the TIF funds for the 25-year life of the bond. Indiana limits new TIF bonds to 25 years.

A multifamily residential building with 151 apartments and a public plaza would be built along Veterans Way at Proscenium III in Carmel. (Rendering courtesy city of Carmel)

Carmel taxpayers would not be directly responsible for the costs associated with the developer-backed TIF financing if the council decides to approve it, Mestetsky said.

Some City Council members expressed concerns about the 95% to 5% split in the proposed TIF deal, while others wondered if there would be enough parking spaces available for tenants.

Carmel and Novo Development Group also partnered on the first two phases of the Proscenium complex.

Proscenium’s $85 million first phase was completed in 2021 on the northwest corner of South Rangeline Road and West Carmel Drive.

The project’s first elements—a 100,000-square-foot Agora at Proscenium office building and a 600-space subterranean parking garage—opened in summer 2020.

Its 196 luxury apartments (called Ver at Proscenium), 15,000-square-foot restaurant building and a 22-unit condominium building opened in 2021 to complete the first phase of development.

Proscenium also has one restaurant on site—101 Beer Kitchen—and a salon and spa, Lux Lab Hair + Body. Indiana’s first Wahlburgers eatery operated at Proscenium before it closed earlier this month. The 4,600-square-foot Proscenium tavern, which is expected to house an Italian steakhouse and a wine-coffee bar, received approval last year.

Construction is expected to be complete this year on Proscenium’s $18 million second phase at 1215 S. Rangeline Road.

The five-story Proscenium II will feature 48 rental units and seven penthouse condominiums, 15,000 square feet of ground-floor space for retail and office uses, and a 120-vehicle multilevel parking garage.

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Indianapolis, IN

New bridge over 96th Street adds to Nickel Plate Trail connections

Published

26 minutes ago

February 27, 2026

Press Room

New bridge over 96th Street adds to Nickel Plate Trail connections

FISHERS, Ind. (WISH) — The Nickel Plate Trail pedestrian bridge over 96th Street is officially open.

It was being touted Friday as a major milestone for central Indiana’s growing trail system. The street is the Fishers-Indianapolis border.

Leaders called the project a critical connection point for the Nickel Plate Trail. The new bridge helps move the nearly 17-mile trail closer to its goal of connecting multiple counties through one continuous path.

The bridge also came with a 1.3-mile trail extension. A $4.5 million grant from the Indiana Department of Natural Resources made the bridge possible.

Dale Brier, deputy director of Indiana Department of Natural Resources, talked about the state’s Next Level Trails grant program. “Currently, we have 89 trail projects that that were funded with that money. Fifty-nine of those are complete. We’ve got 12 under construction. As of this opening, we have 167 miles of trail that have now been opened with that grant money.”

People who frequently take the trail for their daily exercises say they’re excited the bridge is finally open.

Alan Errichiello of the Fishers Running Club said, “Extending this down south into Indianapolis is a big game changer for us. It’ll add a lot of miles that we can easily get into.”

Resident Tracy Mundell said, “Trying to get to the other side was nearly impossible, so I think most people didn’t even attempt it. It’s going to be great, we can get over to the other side, and I’m anxious to see what’s over there.”

The final portion of the project, called the Clear Path project, remains under construction.

Fishers Mayor Scott Fadness, a Republican, said, “We need to double-down on that investment, and we know time and time again here in the city of Fishers that trail systems, the ability to get up and get out and get active, is such an important part in our culture of health, that an investment like this is critical.”

Once complete, local leaders say the goal is to provide a more safe and connected routes between Noblesville, Fishers, Indianapolis and other surrounding cities.

Resident Steve Mundell said, “It’s lovely. It’ll be real convenient to get across too.”

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Indianapolis, IN

Good and bad from Colts’ 2026 NFLPA report card grades

Published

13 hours ago

February 27, 2026

Press Room

Good and bad from Colts’ 2026 NFLPA report card grades

What grades did the Indianapolis Colts earn on the 2026 NFLPA report cards?

The NFLPA is no longer able to make their annual report cards public. However, ESPN’s Kayln Kahler was able to obtain a copy of the reports following the 2025 NFL season, and the Indianapolis Colts were again around the middle of the pack.

In these report cards, players rate numerous aspects of the organizations they play for, from ownership to the training facilities and everything in between. According to Kahler, 1,759 players contributed to these grades.

So, where did the Colts end up this year relative to the rest of the NFL this year?

Overall, the Colts ranked 17th. Below is a breakdown of each individual grade they received.

Treatment of Families: B
Home Game Field: D
Food/Dining Area: B
Nutritionist/Dietician: A-
Locker Room: C+
Training Room: B
Training Staff: B+
Weight Room: B
Strength Coaches: A
Position Coaches: B
Offensive Coordinator: B
Defensive Coordinator: B+
Special Teams Coordinator: B+
Team Travel: B-
Head Coach: A-
General Manager: A
Team Ownership: A

Of note, although the Colts haven’t been to the postseason in five years, Shane Steichen and Chris Ballard both received high marks.

Carlie Irsay Gordon, Kalen Jackson, and Casey Foyt earned an A in their first year as the primary owners.

The field at Lucas Oil Stadium received a very low mark, earning a D, while the locker room was given a C+. Those were the two lowest grades the Colts received.

Compared to the 2025 rankings, the Colts moved up two spots this year, after coming in at 19th last year.

The biggest jumps the Colts experienced came in the Food/Dining grade, which went from a C to a B. The Team travel grade also jumped from a D+ to a B-.

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Indianapolis, IN

Indianapolis police search for 3 people after shooting, stolen vehicle crash

Published

1 day ago

February 26, 2026

Press Room

INDIANAPOLIS (WISH) — After a shooting, Indianapolis police were searching for three people who fled on foot following the pursuit of a stolen vehicle and its crash on Thursday afternoon.

No information was provided in the notification about the three people being sought. News 8 reached out to IMPD by email to find out details about the three people. Anyone with information regarding the incident or the people who fled the crash was asked to contact the Indianapolis Metropolitan Police Department.

The stolen vehicle was linked to a Thursday shooting, prompting the lockdown of a nearby child care center, IMPD said in a media notification. No information was provided about where the shooting happened, what may have led to it, or whether anyone was hurt.

IMPD, however, said the stolen vehicle and crash were not related to a shooting reported at 12:35 p.m. Thursday at a gas station and restaurant at West 38th and Meridian streets.

IMPD officers found the stolen vehicle around 12:45 p.m. Thursday near East 38th Street and Post Road. When a detective attempted a traffic stop, the vehicle fled westbound before crashing a short time later near Whenner Drive, the notification said. It did not say what type of vehicle was abandoned in the crash.

Three people from the crashed vehicle fled southwest on foot. IMPD established a perimeter with assistance from the Indiana State Police, the Lawrence Police Department and the Marion County Sheriff’s Office — using specialized resources, including a state police helicopter, a special weapons and tactics team, and the IMPD’s police dogs — but did not find the three people.

IMPD said a firearm was found in the crashed vehicle, and a man detained at the crash scene was later released once investigators determined he was not directly involved in the incident.

Police have since lifted the lockdown on the child care center.

IMPD’s public information office can be reached at 317-327-3424.

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