13 ways Carmel plans to fix its housing problems
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A task force that spent the better part of this year rethinking Carmel's housing strategy has come back to the table with a baker's dozen of ideas to make the Hamilton County community more accessible.
Why it matters: Carmel is one of the most expensive places to live in Indiana, which has created a barrier to its continued growth as first-time home buyers consider it unaffordable.
- And those who have called it home for years say it is becoming a difficult place to downsize as rising prices put the squeeze on Hoosiers statewide.
Driving the news: The Carmel Housing Task Force established by Mayor Sue Finkam in February to better understand the city's housing challenges has made 13 recommendations to serve as a framework going forward.
- Issues the committee aimed to address were questions about how the city would accommodate lower-wage workers who staff Carmel businesses, and how leaders planned to fill the "missing middle" that has developed in recent years.
State of play: According to the task force's final report, the median sales price of a single-family home in Carmel is more than $580,000. That's higher than downtown Indianapolis, Fishers, Westfield and Noblesville.
- The report says there is also a notable lack of smaller ownership units, too few affordable rentals and a surplus of mid- and higher-cost three- and four-bedroom houses.
- Of the roughly 41,500 total housing units in Carmel, there is a 73% ownership rate, and about 50% of homes have four or more bedrooms.
By the numbers: Community surveys conducted by the task force revealed that 86% of residents think having diverse housing options is important.
- 72% have struggled with or know someone who has struggled to afford housing in Hamilton County.
- 88% do not think there is enough affordable housing for older adults.
- 89% do not think there is enough affordable housing for young adults and recent graduates.
Zoom in: Here are the 13 recommendations and when the task force thinks they should be put into place.
🤝 Make the Carmel Housing Task Force a permanent commission within three months.
👀 Develop a vision plan based on the task force's work in 2025.
🛡️ Establish a plan to protect existing single-family neighborhoods by January 2026.
📝 Update the city's comprehensive housing plan by January 2025.
🏡 Facilitate the development of missing middle housing, effective immediately.
👷 Adopt a development strategy for new apartment construction, effective immediately.
🌲 Identify parcels of land for green space acquisition, ongoing effort.
📑 Perform an assessment of current zoning regulations in 2025.
🧑🤝🧑 Establish a committee to explore approaches related to accessory dwelling units in 2025.
🗺️ Create and publish a series of maps and data to communicate and quantify existing inventory and desired outcomes within nine months.
🔨 Establish a housing repair program within one year.
🚗 Prioritize the infill, conversion or redevelopment of underutilized commercial property and parking areas, ongoing effort.
🔎 Actively seek new collaboration opportunities locally, regionally and statewide, ongoing effort.
What's next: Finkam said her team will now get to work putting these recommendations into place with the first step being the establishment of a permanent housing commission.
- "You'll probably see that in the next couple of weeks," she said. "We'll be talking (to) members of this task force if they want to continue on something. If not, we'll get some recommendations for who will be valuable contributors to that moving forward."