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PROOF OF CONCEPT
See what potential looks like, realized
Ben-Hur Apartments / Crawfordsville, IN
AP Development LLC is redeveloping the Ben-Hur Life Insurance Building in downtown Crawfordsville, Indiana. The project was the centerpiece of the City’s 2015 Stellar Communities Designation. Following an approximately $13 million renovation, the revived Ben-Hur will include a 60 units of market rate apartments with supportive retail on the first floor. Funding includes Federal Historic Rehabilitation Tax Credits, Stellar Communities, Indiana Redevelopment Tax Credits and Tax Increment Financing.
UB Block / Huntington, IN
Anderson Partners LLC acted as legal and tax credit counsel to AP Development LLC in redeveloping the former United Brethren Building and International Order of Oddfellows Buildings in downtown Huntington, Indiana, a 2015 entry on Indiana Landmarks 10 Most Endangered List. Project funding included Indiana Regional Cities, Federal Historic Tax Credits, Tax Increment Financing, OCRA Renovation Grant and traditional financing. The 50,000 square foot project includes 37 market rate apartments, the Huntington Art and Entrepreneurship Center, Huntington University and the Huntington Chamber of Commerce. The project opened in March 2020 and was awarded the Outreach Award for outstanding preservation project by Architecture and Community Heritage, Inc. (ARCH).
Karges Lofts / Evansville, IN
AP Development LLC is leading the redevelopment of the former Karges Furniture factory northwest of downtown Evansville into 150 workforce housing units utilizing Federal Historic Rehabilitation Tax Credits, Indiana Regional Economic Acceleration and Development Initiative (READI) and Tax Increment Financing. Karges Lofts was a featured project in Southwest Indiana’s READI application.
Ariel Cycleworks / Goshen, IN
AP Development LLC is initiating the redevelopment of the former Ariel Bicycle / General Rubber site in Goshen, Indiana. The $30 million project will create 135 market rate apartments and supportive commercial space on 4.2 acres funded through a combination of the HUD 221(d)(4) program, Indiana Regional Economic Acceleration and Development Initiative funding (READI) and Tax Increment Financing.
Millworks / Warsaw, IN
AP Development was awarded the rights to develop the former Owens Grocery Store site on a 2 acre parcel in downtown Warsaw, Indiana. The approximately $21 million project will include 85 units of market rate, workforce housing units and associated commercial space. Amenities will include a rooftop deck for resident use and resident bike storage and dog washing facilities.
Legacy on Main / Richmond, Indiana
AP Development LLC is partnering with the City of Richmond and Earlham College in the redevelopment of several historic buildings and a blighted city block in downtown Richmond. The project will be funded through a combination of the Lilly Endowments’ College and Community Collaboration grant, Federal Historic Tax Credits, local funding and a project based TIF bond. When complete the project will include 100 market rate apartments and 30,000 square feet of commercial / retail space. The $30 million project includes the rehabilitation of the Oddfellows, Second National Bank, Jenkins, Knollenberg’s, Kresge and Hittle buildings between 8th and 9th Street on Main Street.
Fieldhouse Flats / Evansville, IN
AP Development LLC is working with local leadership in the redevelopment of the former Central High School gymnasium and YMCA pool and offices in Evansville, Indiana to be known as Fieldhouse Flats. The project will be connected to Central Lofts and is projected to include 60 units of workforce housing. As part of the Greater Southwest Indiana Regional Development Plan and the Regional Cities Initiative, the YMCA completed a new $15 million facility adjacent to Fieldhouse Flats.
The Fairbanks / Springfield, OH
AP Development LLC is redeveloping the Fairbanks building in downtown Springfield, OH as part of a $29 million rehabilitation and renovation. The redevelopment plan calls for restoring the building’s historic bank lobby to its early 20th-century grandeur while creating a hub for freelancers, remote workers, entrepreneurs, and small teams seeking a flexible, professional work environment. A culinary academy training center will also occupy part of the first floor. Fairbanks has received a $5 million award of Ohio State Historic Renovation Tax Credits and a $1.5 million Vibrant Communities grant from JobsOhio as well as robust support from the City of Springfield.
The Waldo / Clarksburg, WV
AP Development LLC is redeveloping the former Waldo Hotel in downtown Clarksburg, WV as 80 units of market rate housing with supporting commercial and retail development. The project will include 8-10 short term rental units bordering a restored three-story atrium which was once the hub of social activity in Clarksburg. Once celebrated as one of the most luxurious hotels in the state, the building has sat vacant for over 40 years and suffered severe deterioration. The project is supported by the City of Clarksburg, State and Federal Historic Tax Credits, BUILD WV Act funding and developer financing, with expected completion in 2027/2028.
Goff Building / Clarksburg, WV
The Goff Building redevelopment in Clarksburg, WV, is a historic-preservation-driven project that transforms a landmark downtown structure into a mixed-use anchor for the city’s revitalization. The project restores and highlights the original 19th/early-20th-century façade and key architectural details while modernizing the interior to meet contemporary building, accessibility, and energy standards. The project will include 55 market rate apartments and ground floor retail space to strengthen street-level activity. The project is supported by the City of Clarksburg, State and Federal Historic Tax Credits, BUILD WV Act funding and developer financing, with expected completion in 2027/2028.
Backstay Lofts / Union City, IN
Anderson Partners LLC represented AP Development LLC in the rehabilitation and redevelopment of the former Backstay Welt Factory building in Union City, Indiana into 50 units of affordable housing. The $13 million, 82,000 square foot project was funded through a combination of Federal Low Income Housing Tax Credits, Federal Historic Tax Credits, Tax Increment Financing and Indiana Industrial Recovery Tax Credits. Backstay Lofts was the centerpiece of Union City’s Stellar Communities Application.
Central Lofts / Evansville, IN
Anderson Partners LLC represented AP Development LLC in the redevelopment and rehabilitation of the former 1913 YMCA in Evansville into 62 units of affordable housing. As part of the Greater Southwest Indiana Regional Development Plan and the Regional Cities Initiative, the YMCA has built a new $15 million YMCA facility adjacent to Central Lofts. The $13 million project was funded through a combination of Federal Low-Income Housing Tax Credits, Federal Historic Tax Credits and Tax Increment Financing.
Rock City Lofts / Wabash, IN
Anderson Partners LLC acted as tax credit and real estate counsel to AP Development LLC, Partnership for Affordable Housing, Inc. and House Investments in the redevelopment of three historic buildings in downtown Wabash, Indiana. Rock City Lofts created 41 units of affordable senior housing and improved commercial and retail space on the first floor. The City of Wabash and the Economic Development Group of Wabash County contributed funds and support to the project. The project was completed in December 2017 and was the centerpiece of Wabash’s Stellar Communities designation.
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