WARSAW, Ind. (Inside INdiana Business) — The Kosciusko Economic Development Corp.(KEDCO) says the city of Warsaw has acquired a former grocery store site in the city’s downtown that is primed for redevelopment. KEDCO says officials are looking at building a mixed-use development that could include a workforce housing component.
Financial terms of the acquisition of the former Owens’ grocery store site were not disclosed.
The effort is being supported by the KEDCO Housing Initiative, which the organization launched in response to a study that forecasted a potential need for 2,000 new residential units throughout the county by 2024.
“The housing market study showed us the market potential exists to double the production of market-rate housing in our community,” Warsaw Mayor Joe Thallemer said in a news release, “We know from leading employers like Zimmer Biomet that access to housing is a workforce recruitment and retention issue, as well.”
KEDCO says it is finalizing a development agreement with a regional development team for a mixed-use project.
“Our team is working with local partners to encourage the development of additional workforce housing in proximity to leading employers,” said KEDCO Chief Executive Officer Alan Tio, “We are excited to support the City’s vision for reuse of this site as a catalytic project that will lead to additional opportunities throughout the County.”
The organization says it will work with the development team, the city and other partners over the winter to finalize plans for the project.