The project addresses the need for high-end housing not only for young professionals, but also empty-nesters who want to downsize.
Rent for studio apartments will start at $700 dollars per month and go up to $1200 per month for two-bedroom units.
”What we do fits very well with what we view as the mayor's vision for downtown Elkhart and what we think a lot of the citizens want here. That is really to put a focus on downtown, where you bring people back downtown,” said David Flaherty, CEO, Flaherty & Collins.
Before the project can officially start, funding needs to be finalized. Some of that money will need to come from TIF funds.
First and last paragraphs of the quote - a dead giveaway. Our Indiana developer friends: Friends of leveraging other people's money to their benefit.
___________UPDATE___________
Parallel coverage, The Elkhart Truth, here. REjournals.com with a rendering, here.