Developer Investing in Downtown Kokomo

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Developers plan to repurpose the original 1910 structure and build additional apartments on the property. Developers plan to repurpose the original 1910 structure and build additional apartments on the property.
KOKOMO -

Indianapolis-based AP Development LLC has announced $6.5 million plans for the old YMCA property in downtown Kokomo. The vision involves 46 apartments, many of them in the original building that dates back to 1910.

Plans call for an addition that will include 28 units. The other 18 units will be built within the original four-story structure. A 1950s-era expansion that includes the pool, a second gym and office space will be demolished.

A new YMCA opened just under a year ago and Mayor Greg Goodnight says "lining up a developer in a short amount of time doesn't always happen. The project will make great use of the historic building and provide needed market rate housing downtown. Much like we did with the train depot, the former ice factory and the Mikalas building, the city will continue to the take the lead in saving Kokomo's historic buildings and landmarks. Redeveloping a 107-year old building with a storied past is a priority." The city will kick in toward the demolition portion of the project and donate the land to the effort.

AP Development says the new construction will compliment the repurposed structure. "The historic building provides a great foundation for the project and will complement the other development taking place," said President Jon Anderson. "Downtown Kokomo is perfect place for market rate apartment redevelopment. The downtown area is an exciting, unique place."

The firm beat out three others vying for the project. AP Development is also taking on redevelopment of a YMCA in Evansville built in 1913, Rock City Lofts in Wabash, the UB Block in Huntington and the Ben Hur Building in Crawfordsville.

Construction is slated to begin in April 2018 and it could be complete by July 2019.

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