KOKOMO, Ind. – A new $26 million mixed-use development has opened in Kokomo, adding 114 apartments and 3,000 square feet of commercial space to a vacant lot at the corner of Hoffer and Elizabeth streets. Goodin Development, the project’s developer, said the city’s housing supply has st ruggled to keep up with growth. According to the Census Bureau, Kokomo’s population jumped 33% between 2010 and 2025, growing from 45,000 to 60,000 residents. “There was nothing that was really new or modern in the community, at least in the last 10-plus years,” Justin Goodin, founder and CEO of Goodin Development, said. “So our goal with The Elwood was to build the same kind of project you would see in a Carmel, or in a Fishers, Westfield, and bring that to the Kokomo area.” In 2024, the Kokomo Common Council approved a nearly $3 million forgivable loan and up to $4.2 million in tax increment financing bonds to support the project. Construction began in 2025. “There’s a ton of new jobs and new businesses opening in Kokomo and the city knew it just needed housing, like yesterday,” Goodin said. The Elwood features a fitness area, pet spa, game room, community spaces, and a co-working room. The apartments include stainless steel appliances, smart home technology, and private balconies or patios. Rents range from $1,179 to $1,895 a month. While the residential portion is open, Goodin said the project is still seeking commercial tenants, specifically for light office use or small businesses like a coffee shop. Previous reporting: https://www.wishtv.com/news/business/elwood-project-kokomo-development/ ...read more read less