$30M investment targets revitalization of downtown Richmond buildings
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Earlham College this week announced a $30 million redevelopment effort in downtown Richmond.
In partnership with the Economic Development Corp. of Wayne County, the city of Richmond, and Brownsburg-based AP Development LLC, the project will focus on the restoration and adaptive reuse of five historic downtown buildings.
The properties involved in the project are the Knollenberg’s Building, the Hittle Building, the former BMO Harris Building, the Jenkins Building, and the Odd Fellows Building. All of the buildings were constructed in the 1800s, except for the BMO Harris building, which was built in 1910.
The redevelopment is being led by AP Development and when completed, will feature mixed-use spaces combining about 100 market-rate apartments with nearly 20,000 square feet of renovated commercial storefront space, Earlham said in a news release.
The project is part of Earlham’s Revitalize Richmond initiative, a more than $100 million effort, which was fueled by a $25 million Lilly Endowment Inc. grant that has spurred more than $83 million in additional private investment.
“This is exactly the kind of bold investment that Revitalize Richmond was designed to support,” Dakota Collins, director of community relations at Earlham College, said in the release. “A vibrant downtown is essential to a thriving city. By preserving these historic buildings and bringing new life to Main Street, we’re laying the foundation for lasting growth, connectivity, and opportunity.”
The project is slated for completion in the summer of 2027.
After the renovation, AP Development will manage the leasing and maintenance of each property. Earlham said the developer is already working with the buildings’ current tenants to determine their needs in the renovated spaces and help retain their businesses.
“This project is a major step forward. Not just for downtown, but for our entire local economy,” said EDC of Wayne County President Valerie Shaffer said in the release. “When we strengthen our urban core, we support employers across the region by attracting talent, boosting quality of place, and expanding housing options. It is a win for the whole county.”
All five buildings are located within the Richmond Downtown Historic District, which is listed on the National Register of Historic Places.