Kokomo Announces $20M Project

Posted: Updated:
Rendering of the Kokomo Residential Care Facility courtesy of Worn Jerabek Wiltse Architects, P.C. Rendering of the Kokomo Residential Care Facility courtesy of Worn Jerabek Wiltse Architects, P.C.

A former lumberyard in downtown Kokomo will be transformed into an assisted living facility. Chicago-based Vermilion Development plans to build the $20 million, four-story complex on the former South Side Lumberyard site. 

“The number of local residents over the age of 65 continues to increase at a time when Kokomo’s senior housing inventory is low. There is nothing like this, right in the heart of our city. The location will be convenient for the new residents as well as their visiting family members and friends. This development will dramatically transform an underutilized property located on one of our city's major thoroughfares,” Kokomo Mayor Greg Goodnight said.

The Kokomo Residential Care Facility site is located across from Foster Park and the Kokomo Senior Center. It will feature studio and one-bedroom units.

Construction is expected to begin in 2016.

  • Perspectives

    • Want A Guaranteed Negative Return?

      Here we go again! On Wednesday, August 14th, we watched the Dow Jones Industrial Average (DJIA) drop over 800 points.  The previous Monday the Dow ended down over 700 points. But what you may have missed is the sharp downward move in interest rates that has intensified with the recent stock market volatility. What does this mean for your portfolio?



  • Most Popular Stories

    • Forbes Ranks Top Colleges; 3 Indiana Schools Make the Cut

      Forbes released its 12th annual ranking of America’s Top Colleges based on direct benefits a university or college provides its students. Several Indiana universities made the list in some “sub-categories”, like Grateful Graduates Index, but the University of Notre Dame was the only school in the state to break the top 20 overall rankings.

    • ‘Transformation’ Continues in Westfield

      Indiana’s fastest growing city is showing no signs of slowing down.  Mayor Andy Cook says now that Westfield has established itself as a destination for family sports with the Grand Park Sports Campus, the $35 million Grand Junction Plaza will transform the city’s downtown into a destination, a place “where people want to be.”   Cook says the project, more than a decade in the making, is an example of a place making strategy necessary for Midwest...
    • (photo courtesy The Times of Northwest Indiana)

      Hammond Pulls 135 Jobs from Illinois

      A Hammond factory recently vacated by Michigan-based Lear Corp. didn’t sit empty for very long. Midland Metal Products has taken over the former seat factory, having relocated from Chicago after 95 years. 

    • (courtesy Wes Mills)

      Purdue: Farmland Values Decline Fifth Straight Year

      The value of top-quality farmland in Indiana has declined continuing a five-year trend, according to the latest data from Purdue University.  The statewide average of the best cropland is $8,212 per acre, down more than five percent, or $456 per acre, from the same period last year. Purdue’s survey shows average and poor-quality farmland values also dropped, but not as much. Average quality farmland declined by 0.9 percent. Purdue says the poor...

    • (photo courtesy of TriCore Logic)

      Fort Wayne IT Firm Expanding

      TriCore Logic has announced plans to expand its office space and staff at its downtown Fort Wayne headquarters. The company plans to invest over $200,000 in the expansions. The 2010-founded company moved to the Anthony Wayne building in 2013, and now plan to grow their staff of five employees by up to eight over the next four years.