KOKOMO, Ind. (WISH) — Kokomo city leaders have unveiled a plan to breathe new life into a historic downtown building.
After a brand new YMCA opened downtown about a year ago, city leaders were left wondering what to do about the old YMCA building. City leaders said the building, which is more than 100 years old, will turn into 46 market-rate apartments by July 2019.
An Indianapolis-based company called AP Development LLC is investing $6.5 million dollars into the project.
“Kokomo is really the perfect fit,” Kokomo Mayor Greg Goodnight said.
Goodnight said some of his team’s goals are to keep the locals in Kokomo and draw new people into the city.
“I know we have to do our part to give them the opportunity to move here and give them some amenities here,” he said.
City leaders said the new units will be down the street from a finished set of luxury apartments and another apartment project currently under construction.
Charles Aikman, a Kokomo local who worked out at the old YMCA building, said he’s worried that downtown is becoming saturated with apartments.
“I don’t see a reason to invest $6.5 million dollars into that building for that when they could do $6.5 million dollars for the homeless,” Aikman said.
Ralph Porter, a Kokomo native, said he supports the plan and he expends his hometown to keep growing.
“They’ve got a good start. They’re spending their money fairly wisely. They’re upgrading buildings in the downtown area,” Porter said. “To see it evolve over time is kind of a nice thing.”
Construction on the old YMCA building is set to start in April of next year.
City leaders said parts of the building added on in the 1950s are now in disrepair and will be demolished.
The city will donate the property and pay for part of the demolition. City leaders have not disclosed the exact amount they will pay.