$25M Project Planned For Old Foundry Grounds
The land sits along the Elkhart River and hit the market in 2011 after remediation work following foundry demolition.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA $25 million residential and retail development has been announced for a former industrial site in downtown Elkhart. Indianapolis-based developer Flaherty & Collins Properties says the project will include 200 apartments and 5,200 square-feet of store-front space. The riverfront property is planned for the former Elkhart Foundry site.
The land is owned by the city’s redevelopment commission and was originally developed in as an industrial castings and ironworks site. The 200,000 square-foot Elkhart Foundry facilities were torn down five years ago.
The developer describes the new project as featuring "high-quality, condo-level finishes and resort style amenities, including a heated salt water pool and fitness center."
Mayor Dick Moore says "I am impressed by the thoughtful investment Flaherty & Collins Properties is making in our downtown, and it sends notice once more that not only did the City of Elkhart survive the Great Recession, we are thriving as a community. Flaherty & Collins Properties have proven themselves to be a developer that can deliver the Class A residential space that our community deserves and desires."
Work on the development could begin next spring. It is expected to take up to 18 months to complete.
Lead Developer Brian Prince says the project’s goal is to attract and retain workers that aren’t city residents. “Statistics show that over 25,000 people commute into Elkhart County every day for work, but don’t live there. By adding density to the downtown area, we will bring in individuals who will pay local taxes and bring in more money to the economy."