Despite some financial difficulties, Davis still sees things changing for the better in the neighborhood since the economy bottomed out in 2009, and he hopes efforts to instill community pride will go a long way, pointing to the construction of a Rev. Dr. Martin Luther King Jr. Monument planned for the corner of Lafountain Street and Apperson Way.
"I thank God we've got people like [Kokomo Common Council member] Janie Young, because she talks about the positive attributes of the neighborhood,” he said. “She's been doing some positive things to make the area better."
Tammy Anderson said she has been pleasantly surprised with the downtown's structure and the different amenities that already are provided.
Being able to purchase a home in a city that has consistently topped various lists as one of the most affordable places to live in the country, Anderson added, has allowed her family to start a significant chapter in their lives together as homeowners.
"We like to walk all through the downtown and feel very comfortably doing so," she said. "Different people have different standards of what is a safe and comfortable place to raise a family. We hoped for and found our expectations fulfilled when we found out it was just fine, that it's family friendly."
A quick stroll through Kokomo’s downtown provides an immediate illustration of what the future holds, as construction crews move forward on a four-story parking garage on North Union Street and an urban section of the Industrial Heritage Trail is installed on a seven-block stretch of North Buckeye Street.
A pizza/brewpub called The District and the Laugh House Comedy Club are in the works on Sycamore Street, bringing more food and entertainment to the downtown, while work continues on the old Firestone Building, which could provide office space and new retail possibilities.
Add to the mix a new YMCA — construction is expected to start in September on a new $16-million, 73,000-square-foot facility on North Union Street — and there have been plenty of reasons to anticipate what the downtown will look like a few years down the road.
Goodnight said the city and private investors are now reaping the rewards of initiatives put in place to encourage business growth over the last few years.
“Success breeds success,” he said. “I think IUK bringing their sports to the downtown, the trail extensions and Ivy Tech moving a lot of their offices downtown and some of the facade grants are all big factors. The inexpensive things a few years ago started laying the groundwork.”
Indianapolis-based Mecca Companies President and CEO Kyle Bach, the developer of the sites at Kingston Square and The Annex, said the recent surge in apartment construction has been spurred by the city’s demand for more rental properties.
What has set Kokomo apart during this crucial time for development, he said, has been its willingness to work with developers.
“When we were originally developing that project, we estimated that it would take seven to nine months to fill all of the units,” he said of the Kingston Square Apartments. “It only took us three. Certainly, when you look nationally and across the Midwest, the trend right now is that a lot of people are renting rather than buying. The population base in Kokomo has been on board with this from the start.”
Scott Pitcher, who began working as a developer nearly 30 years ago in Kokomo, believes Kokomo's recent growth in the apartment and rental market falls in line with national trends.
Currently, Pitcher said, there are waiting lists for condos that used to stay empty for months after they were vacated.
Pitcher, who has developed more than 80 properties in downtown Kokomo, said he's never seen the interest levels this high for those looking to locate downtown and anticipates any remaining space above downtown buildings soon will be filled.
"It certainly makes you feel good to bring young people downtown," he said. "I've been working here since 1982 and this is one of the first times we have young people wanting to live downtown. When you see the apartments [become vacant] downtown, they fill up right away.
"With mortgages getting harder for young people [to pay], you're seeing people much more inclined to rent apartments," he added. "The city's driving of development downtown has made it a destination tailored for the empty nester, with no yard to maintain or place to maintain. Young people that don't have children seem to be our main clients."
Goodnight said the city is always careful in deciding the shape of development in the downtown area, but also knows the objective is to be a more attractive option than its surrounding neighbors like Noblesville, Lafayette, Logansport, Peru, Bloomington, Zionsville and Carmel.
Functionality and historical value will be taken into account in the city's decisions as it continues the task of reshaping its downtown.
“There’s a difference between historic buildings and old buildings,” Goodnight said. “We need to preserve historic buildings and there are maybe some older buildings that have seen better days. I want to always make sure we differentiate between the two. Every time we have an opportunity, our objective is how do we leverage that to the fullest extent.”