MIXED-USE DEVELOPMENT TO SET TONE FOR HOFFER CORRIDOR

A new mixed-use development planned for the northeast corner of Hoffer and Elizabeth streets was approved by the City of Kokomo’s Redevelopment Commission yesterday (10/23), paving the way for the City Council’s consideration in November. The project, named The Elwood, is planned to bring 114 modern apartment homes, 3,000 square feet of commercial space, and $26 million in investment to the Hoffer Street corridor.

“As our team continues to work to entice developers to bring quality housing to Kokomo, we couldn’t be more excited to see the product Rebar and Goodin are bringing to our community,” said Mayor Tyler Moore at the City of Kokomo. “The Elwood will truly help transform that corridor of SR931 and Hoffer Street and will prove to be an incredible option for those desiring this level of accommodations and amenities. The City of Kokomo appreciates Rebar and Goodin’s investment in our community and look forward to continuing to partner in this project.”

Project developers, Rebar Development and Goodin Development, worked closely with the City of Kokomo to ensure The Elwood sets a high standard for development quality in this growing area. The project will redevelop blighted, vacant parcels and add residential density that will help support local businesses and restaurants. Anchoring the Hoffer Street corridor, The Elwood will add neighborhood vibrancy while serving as a catalyst for additional development in the area.

“We have been looking for an opportunity to do something special in Kokomo for several years,” said Shelby Bowen, Founder and Partner of Rebar Development. “With the investments the City is making in this corridor and throughout Kokomo, we are thrilled to be a part of the incredible momentum in the region.” 

“We are excited to partner with the City of Kokomo to build this incredible community,” said Justin Goodin of Goodin Development. “The Elwood will provide quality housing to the area and serve as a catalyst for economic growth within the City.”

The Elwood will include 114 one- and two-bedroom apartment homes and 3,000 square ft. of commercial space uniquely suited for a restaurant with outdoor seating. The apartments will feature spacious floor plans with modern kitchens that include quartz countertops, stainless steel appliances, tile backsplash, and center islands. The apartments also come equipped with a full-size washer and dryer, tile surrounds in showers and tubs, large closets, and a balcony or patio in every unit.

Future residents will enjoy an extraordinary amenity package consisting of a work-from-home lounge with grand rooftop patio, state-of-the-art fitness center, an indoor/outdoor resident cafe, indoor bike storage, pet spa, pedestrian plaza, and a courtyard with outdoor grilling stations and a fire pit.

“We believe The Elwood will be a beautiful keystone along Hoffer Street and a great place for people to live, have fun, and be close to a tremendous amount of employment opportunities,” said Bowen.

As part of the project, partners will collaborate with the City of Kokomo on Elizabeth Street infrastructure improvements, including street parking to support the residents and future business tenants.

If approved, construction on The Elwood is slated to begin in February of 2025 with a planned completion in the summer of 2026. To learn more about the project, please visit www.GoodinDevelopment.com or prospective future residents and interested commercial tenants are encouraged to visit www.RebarDev.com to join the interest list.