The Levinson To Add Residential Living, Commercial Space, Parking Garage to Downtown Noblesville
Noblesville officials and Rebar Development will present The Levinson, a $24.3 million mixed-use project, to the Noblesville Common Council on Tuesday, August 28. The Levinson will be an architecturally significant building in the heart of downtown that will provide commercial space, modern apartment homes, and a parking garage in Downtown Noblesville.
“We are proud to present The Levinson to the Council and have worked to ensure the project will meet many of the objectives in the PLANoblesville Comprehensive Plan,” said Rebar Development President Shelby Bowen. “The Levinson will attract and retain millennials, empty-nesters, high-earning and workforce professionals to downtown—serving as an economic driver for Noblesville restaurants and businesses.”
The proposed project includes 73 market-rate and 10 affordable-rate studio, one- and two-bedroom modern apartments with a rooftop deck and contemporary amenities. Additionally, the 2,000-square-foot lobby along Eighth Street will include a public exhibit of Downtown Noblesville’s rich history. Along Ninth Street, 5,100 square feet of commercial space will be available for retail, office, or a restaurant.
“Rebar’s plans create the first new apartment building downtown in more than a century and it will help bring urban density to our square to support our local businesses, restaurants and shops,” said Noblesville Mayor John Ditslear. “Not only will it add to the local landmarks in our city, but it will attract additional downtown development interest and set a high bar for quality. It also provides Noblesville’s first parking structure in downtown.”
The project also includes a four level, 337-space parking garage. A minimum of 237 spaces will be available for paid public parking.
“We have long believed a public parking garage is an essential component to address current, perceived and real, parking challenges. Through this public-private project, we will expand our downtown parking capacity inventory by 167 spots – more than doubling the number of current off-street public parking options,” said Noblesville Chamber of Commerce President Bob DuBois, who also leads the parking task force committee. “Surface parking lots, while functional, are not the best land use strategies to sustain and enhance a vibrant downtown. We are excited to see a creative reuse of these valuable parcels. This is a win for Noblesville now and Noblesville’s future.”
As part of the developer’s agreement, the city will use an economic development bond to fund $16 million including $13.2 million for the public parking garage. The city is expected to garner nearly $185,000 annually for 25 years generated in TIF by $8.8 million in new assessed value for the project, in addition to revenue from parking permits and hourly fees.
The Levinson is named after one of the pioneer families in Noblesville. Nationally known attorney, S. O. Levinson, donated his family’s former homestead to the city in 1938. A portion of the land was used as the former City Hall site before becoming a public parking lot.
“As the family’s success and contributions were a source of pride in our community long ago, so too will this building named after them. The look and name pays homage to downtown’s history as we prepare for the next 150 years,” Ditslear said.
In July, Ditslear and Council President Chris Jensen announced the city’s Noblesville NOW capital improvement plan with the 10 priority projects for 2018-2023. The Levinson is part of the downtown development portion to introduce multi-family apartments. Other priorities include relieving traffic congestion, improving connectivity via roads and trails, and addressing the needs of public safety.
If approved by council, construction is expected to start in March with plans for the garage to be completed and open by January 2020. The apartments are anticipated to open in the fall of 2020.