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Redevelopment Commission sets Gramercy East allocation areas for seven phases
Summary
The Carmel Redevelopment Commission approved three declaratory resolutions to create allocation areas for Gramercy East phases 1–7, enabling future bond pledges and phased development of townhomes, multifamily, retail and parking.
The Carmel Redevelopment Commission approved three declaratory resolutions on Gramercy East that establish allocation areas covering phases 1–7 and remove an older 2006 allocation area that was never used.
Commission staff presented the three resolutions together and said the parcels are being divided into separate allocation areas so the developer can match each phase to the bond timing that is most advantageous. Mr. Lee described the scope: phases 1–3 include…
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