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Friday, June 2, 2023

Story from Rebar Development .

Fishers, IN – Together with project partners, Rebar Development announced a new $18.3 million project at the former Gatke site in Warsaw, Indiana. The project was approved by the City of Warsaw’s Redevelopment Commission and includes the rehabilitation of the existing Gatke Warehouse and the development of a new market-rate apartment building on the former Gatke factory site. The Gatke project brings a unique mix of housing, flexible office/studio options, and commercial space to the Argonne Corridor.

“The City of Warsaw couldn’t be more excited about the Gatke Lofts project that Rebar Development has proposed at the McKinley Street location. This project will provide needed workforce housing and attractive public space that will activate the McKinley Street Ride-Walk corridor and be transformational in this old historic industrial area,” said City of Warsaw Mayor Joe Thallemer. “Our partnership with Rebar and support of the Gatke Lofts is the culmination of a lengthy search for a sustainable project on this challenging site and we are thrilled to finally be moving ahead.”

Officially named The Gatke Warehouse and Lofts, the project includes the rehabilitation of the existing warehouse structure, bringing back to life 100 years of Warsaw history. The aging structure will be transformed into a 12,000 sq. ft. hub with eight 940 sq. ft. flexible live-work studio units and 4,300 sq. ft. of commercial space. The restored building will offer opportunities for a unique mix of residential studios, offices, restaurants, innovation/lab space, or other related uses.

The residential portion of the project, known as The Gatke Lofts, will replace the dilapidated structures that are beyond restoration. The new building will pay homage to the original structures with coordinating brick, architecturally significant details, and industrial-style interior finishes. The Lofts building includes 75 one- and two-bedroom Class-A apartments with amenities that include a rooftop terrace, work-from-home lounge, cafe, conference room, state-of-the-art fitness center, bike storage, and incredible views of Winona Lake.

“The Gatke project was a collaborative effort with local, regional, and state officials and just wouldn’t have been possible without their support and commitment,” said Shelby Bowen, President of Rebar Development.

Project partners include the City of Warsaw, Kosciusko County Economic Development Corporation, Northeast Indiana Regional Development Authority and the Indiana Economic Development Corporation (IEDC). Contributions from the city and a $4 million redevelopment tax credit from the IEDC, round out this unique private-public partnership.

“The Gatke project is the type of projects we aim for at the IEDC,” said Mark Wasky, Senior Vice President of Community Affairs at the IEDC. “By rehabilitating this property in the Argonne Corridor with mixed-use space, the city is not only creating a solution for housing workforce, but it’s also beautifying and revitalizing the area, making it a more attractive place to work and relax. This bold, future-focused project is helping Warsaw attract and retain new businesses and the workforce to support.”

“We believe the Gatke Warehouse and Lofts will be a fantastic place to live, learn, work, and visit in the region and are eager to bring new life to this key piece of the Argonne Corridor,” said Bowen.

Construction is expected to begin in August of 2023 and is expected be complete in the winter of 2024.