Deal between Carmel, PNC Bank finalized; construction of apartments expected to occur


Recently, PNC Bank, located on the northeastcorner of Rangeline Road and Main Street, has agreed to sell its land to Carmel after two years of negotiating. The land sold for 2.5 million dollars and is expected to turn into apartments and condos. According to Henry Mestetsky, executive director of the Carmel Redevelopment Commission (CRC), this addition will improve aspects of downtown Carmel.

“If we work to develop the building we see on Main Street, we will see a bunch of people moving in, and we will see a community,” Mestetsky said. “That’s the kind of stuff that people will want to visit when they are outside. This will also be important as it will open up a lot of business for downtown Carmel.”

Not only will the city and businesses see improvements, but the students who work in downtown Carmel could experience benefits of their own. These could come in the form of more money or job opportunities.

The whole building is expected to be finished in the next couple of years and take up 1.8 acres of land.

To get local opinions on this deal, the HiLite talked to several local business owners and students employed in downtown businesses.