City Council reviews North End Phase 2 project with affordable housing component

The North End Phase 2 project took center stage at the Economic Development Commission meeting on June 2, 2025, as officials outlined a significant $75 million investment aimed at enhancing the community in Carmel, Indiana. This ambitious development will introduce 170 age-targeted multifamily units and 72 rental townhomes, with seven of those designated as affordable housing.

Henry Metesky, a key figure in the project, emphasized the social mission behind North End, noting that 51% of the overall project revenue will support a charitable trust. This trust is designed to assist individuals with disabilities, continuing the commitment established in Phase 1, which included 40 affordable apartment units. The project not only aims to provide housing but also creates job opportunities, with an estimated 5 to 6 full-time positions in the senior living sector and 1 to 2 jobs associated with the townhomes.

The project has already received positive feedback from the finance committee and is awaiting final approval from the city council. A bond request of up to $8 million, with a maximum interest rate of 8.5%, is also part of the financing strategy, although the actual rates are expected to be lower.

In addition to housing, the development will feature a trailhead connection, enhancing community access and promoting outdoor activities. The project has already secured planning and zoning approval, ensuring that parking and other logistical details have been thoroughly vetted.

As the city council prepares to vote on this pivotal project, the North End Phase 2 stands as a testament to Carmel's commitment to sustainable development and community support, promising to enrich the lives of its residents while addressing critical housing needs.