Carmel approves financial terms for Hotel Carmichael expansion; city stake falls to 45%
The Carmel Redevelopment Commission approved financial terms Sept. 16, 2026 for a Hotel Carmichael expansion that adds 60 rooms and event space. The city’s assessed value in the hotel is projected to rise by $5 million while the city’s ownership stake would fall to 45%; the CRC says it will not fund the build-out.
The Carmel Redevelopment Commission approved financial terms for an expansion of Hotel Carmichael on Sept. 16, 2026, a decision summarized by CRC Director Henry Mestetsky during the Sept. 21, 2026 Carmel City Council meeting.
Under the approved terms the project will add 60 guest rooms, enlarge the Adagio Lounge (by converting an existing boardroom) and add a ballroom; new work will be built primarily in the northern half of the adjacent Wren building, according to reporting by Current in Carmel and a City of Carmel news release.
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Sources
- Current in Carmel: Financial terms approved for Hotel Carmichael expansion ↗
- News Release: City of Carmel, Pedcor Companies announce Hotel Carmichael expansion ↗
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