Noblesville Ok's Saxony

Noblesville Ok's Saxony

Noblesville Ok's Saxony

June 24-30, 2002 - Indianapolis Business Journal

By: Katie Maurer

An Ohio firm has cleared a major hurdle in the development of a 700-acre mixed-use project in Hamilton County. Republican Development LLC on June 11 secured unanimous approval from the Noblesville City Council for Saxony, a development that calls for office, industrial, hotel and residential uses. The acreage is bordered by Olio Road to the east, Brooks School Road to the west, 146th Street to the north and close to 126th Street to the south, Interstate 69 bisects the parcel.

The majority of the project – about 400 acres – is located in Fishers, with the balance slated to be annexed into the Noblesville city limits. The City Council also approved a tax-increment financing, or TIF, district for the project, which allows all property taxes generated from within the district to pay off debt incurred by the city to build the necessary infrastructure.

Part of that work includes an extension of 146th Street west of Brooks School Road.

Noblesville could begin selling bonds for the project in late summer or early fall, with preliminary work at the site scheduled to begin soon after that, said Sean McKinnies, project coordinator for Republic Development.

Republic expects to take up to 20 years to develop the huge project. “We have a very patient build-out schedule,” McKinnies said.

Ultimately, Saxony could incorporate up to 2.4 million square feet of office space, 1.5 million square feet of industrial space, 750,000 square feet of retail, services and entertainment uses, 1,250 multi-family units and 250 single-family homes.

The industrial portion will probably kick off first, according to McKinnies. “There are some interested users out there right now who have been keeping an eye on what we’re doing,” he said.