The Cornerstone Building at 500 S. Main Street, also known as Hotel Elkhart, was award Regional Cities Initiative funding to develop it into a commercial and residential center for downtown Elkhart. Staff photo by Jennifer Shephard
The Cornerstone Building at 500 S. Main Street, also known as Hotel Elkhart, was award Regional Cities Initiative funding to develop it into a commercial and residential center for downtown Elkhart. Staff photo by Jennifer Shephard
ELKHART — Another Elkhart project is slated to get Indiana Regional Cities money, bringing the number of projects in line to get funding through the initiative in Elkhart County to six. 

Hotel Elkhart, a historic building in downtown Elkhart, was tabbed to receive $900,000 by the Regional Development Authority, which distributes funding for Indiana's Regional Cities Initiative, said Regina Emberton, president of Michiana Partnership. The plan is to develop it into a commercial and residential center for downtown Elkhart.

The tallest building in Elkhart County, it currently houses several apartments. The proposed $11 million project will renovate the building on the southeast corner of Main and Marion streets to include a mix of upscale apartments, a 34-room boutique hotel, a ballroom and commercial space on the first floor. 

The award by the Regional Development Authority still has to go through an approval process with the Indiana Economic Development Corp. In addition, Hotel Elkhart must have 60 percent private and 20 percent public funding set to cover the rest of the project cost before the state will give developers the $900,000.

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