Flaherty & Collins Properties is partnering with the City of Kokomo on a new project to redevelop the former Apperson Brothers factory and surrounding property into a luxury mixed-use apartment community to open in the Summer of 2017 in Kokomo, Indiana.
“Reusing the façade of this historic building preserves our history and provides much needed housing for our downtown,” said Mayor Greg Goodnight, in a statement.
The conceptual plans call for a mixed-use development that includes the repurposing of the existing factory building as well as additional new structures on the site to accommodate 198 luxury apartment homes and retail in an urban configuration.
The community will feature resort-style amenities that will support and activate the space around the new development, tying in closely with the baseball stadium and downtown, while supporting the housing needs the City of Kokomo has outlined in its master development plan.
Flaherty & Collins Properties expects about 70 percent of the residents to come from out of the county, which will create a direct economic impact on downtown Kokomo.
Additionally, Flaherty & Collins Properties hopes to tap into the market of current employees that commute from out of the city because of the lack of housing options.