REDEVELOPMENT PROJECT PROPSOED FOR MARION RIVERFRONT DISTRICT
River Rock Lofts to bring $10.8 million investment, housing to key downtown parcels
River Rock Lofts Primary Rendering. August 2024.
Marion, IN — A $10.8 million mixed-use investment has been proposed to anchor and spur economic opportunity for the riverfront district in downtown Marion. River Rock Lofts is planned to bring apartment housing, commercial space, and public infrastructure improvements along the River Walk. The City of Marion’s City Council will consider the proposal at the upcoming council meeting on August 6.
"The River Rocks Lofts will be a pivotal landmark development in downtown Marion,” said Mayor Ronald Morrell, City of Marion. “It has been a privilege to collaborate with Shelby from Rebar Development, a native of Marion, to bring this vision to fruition.”
Rebar Development, The Ridge Group, and project partners have worked closely with the City of Marion to propose a redevelopment project that meets important economic goals for the downtown district, including the transformation of under-utilized parcels, adding to the downtown housing inventory, and creating vibrancy along the riverwalk to foster further economic opportunity.
“River Rock Lofts has been a dream of mine for many years and we have an experienced team in place to make it successful,” said Shelby Bowen, Founder and Partner at Rebar Development. “Working in collaboration with The Ridge Group and City officials, the project is tailor-made to meet the City’s goals and begin to transform the riverfront district.”
Planned to be constructed along the riverwalk in between Adams and Branson streets, River Rock Lofts will bring 44 modern one- and two-bedroom apartment homes with private balconies overlooking the river, 3,300 square feet of commercial space along Adams Street, and a public plaza for community activation along the riverfront. Future residents will also enjoy living in the walkable/bikeable community with connection to downtown, public parks, and the nearby YMCA.
“The riverfront district is ripe for transformation and the River Rock Lofts establishes an anchor to the area, as well as access to our downtown core,” said Mayor Morrell. “Connecting the riverwalk to our community through investments such as this will create vibrancy for residents and visitors for years to come.”
Designed to attract and retain professionals and empty nesters to downtown Marion, River Rock Lofts amenities include an indoor/outdoor courtyard with a gas firepit and grilling station, a work-from-home lounge with Wi-Fi, indoor bike storage, and a pet grooming station. Apartment units will feature modern kitchens with stainless steel appliances, granite countertops, and a tile backsplash; high-end interior finishes; a full-size washer and dryer; and balcony or patio.
Led by Shelby Bowen, a graduate of Marion High School and builder of Indiana Freedom Memorial in Matter Park, Rebar Development will present the public private partnership project at the City of Marion’s August Council meeting. Under consideration is an economic development agreement that will support public infrastructure improvements included in the redevelopment. River Rock Lofts follows several successful Rebar Development projects that bring solution-driven results to historic downtown districts throughout Indiana, most notably The Levinson in Noblesville, The Barlow in Plainfield, and The Ellsworth in Lafayette.
“Rebar Development has a track record of redevelopment projects in established downtown districts, and I’m very excited to present this opportunity to Council in my hometown,” said Bowen.
Following City Council approval, construction on River Rock Lofts is slated to start in early 2025 with an anticipated completion date in the spring of 2026.
