Carmel Council supports senior-focused housing project with developer-backed TIF bond

The Finance, Utilities, and Rules Committee of the Carmel City Council convened on May 13, 2025, to discuss significant developments in senior housing and community needs in Carmel, Indiana. The meeting highlighted the pressing demand for accessible living options for seniors, particularly in the downtown area.

The discussion began with community feedback regarding the existing townhome developments, where many residents expressed a desire for more accessible housing options. A council member noted that many neighbors, particularly those aged 55 and older, appreciate the walkability of downtown but struggle with multi-story living due to stairs. This sentiment underscored the need for alternatives that allow seniors to remain in their beloved neighborhoods without the physical challenges of traditional townhomes.

Dr. Joshi, a key speaker, emphasized the importance of community engagement and multigenerational living for health and well-being. He introduced the Vivebene project, which aims to provide independent living and memory care services at a more affordable price point than existing facilities in Carmel. The proposed pricing structure is designed to be competitive, with costs significantly lower than the current market rates, which often exceed $3,500 per month. The Vivebene model includes concierge medicine and personalized health care navigation, aiming to reduce the complexity of health care for seniors.

Council members expressed strong support for the project, highlighting its potential to address the housing crisis for seniors in Carmel. They noted that many older residents wish to downsize but find limited options available. The project is seen as a vital step in allowing seniors to stay in Carmel while freeing up larger homes for younger families.

A significant point raised during the meeting was the financial structure of the project. It was clarified that the developer-backed Tax Increment Financing (TIF) bond would not place any financial burden on Carmel taxpayers, as the responsibility for repayment lies solely with the developer.

The committee also announced plans for a community-wide assessment in partnership with AARP to further explore and address senior housing needs. This initiative aims to ensure that long-time residents can continue to live in Carmel, where they have invested their lives.

In conclusion, the meeting underscored the city council's commitment to enhancing senior living options in Carmel, with the Vivebene project positioned as a key solution to meet the community's evolving needs. The council looks forward to advancing this initiative and addressing the housing challenges faced by seniors in the area.