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Commission approves purchase and transfer framework for Signature 55 site and adjacent future park
Summary
The CRC approved two resolutions allowing it to purchase roughly 1.54 acres as a conduit for transferring park land to the city to support the Signature 55 age-restricted project; city council holds the bond funds and will take title at the time the developer secures construction financing.
The Carmel Redevelopment Commission approved two related resolutions authorizing the commission to purchase a parcel intended for a future park and to transfer that parcel to the City of Carmel when the developer is ready to move forward on Signature 55.
Henry Mesteski, the CRC director, described the Signature 55 project as an age-restricted development with about 200 units and an estimated investment of roughly $90 million. The site plan shown to the commission allocates…
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