Marion to revitalize downtown with help from READI 2.0 grants
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Leaders in east central Indiana announced plans this week to use Regional Economic Acceleration and Development funding to ignite growth in downtown Marion.
Provided by the Indiana Economic Development Corp., $850,000 in READI 2.0 funds are going to the River Rock Lofts project in Marion’s downtown riverfront district. According to a release from the IEDC, the River Rock Lofts will add 44 one and two-bedroom apartments as well as over 3,000 square-feet of retail space.
Plans for River Rock Lofts were first announced in August. The project has a total price tag of $10.8 million.
In the release, Marion Mayor Ronald Morrell Jr. said the project works toward the city’s goal of creating a denser, more walkable downtown.
“We are deeply honored to receive funding for this transformative project in our city,” said Morrell Jr. “Marion is poised for growth, and the READI 2.0 initiative has positioned us to build a vibrant future in our downtown. It is truly inspiring to see our state government invest in communities like ours, and this development would not be possible without their invaluable partnership.”
River Rock Lofts is being developed by Fishers-based Rebar Development and Muncie-based The Ridge Group. Located between Adams and Branson streets, the development will include an indoor/outdoor courtyard, a work-from-home lounge, and indoor bike storage.
Construction is expected to begin in early 2025 and be complete by the spring of 2026.