The City of Kokomo and the Kokomo Community Development Corporation announce neighborhood urban infill program that will enhance and revitalize the value, appeal, and beauty of Kokomo’s existing neighborhoods. The program will build new single family market rate homes on vacant and underutilized lots.
“Providing new housing options in already existing neighborhoods is a proven strategy for smart growth.” said Mayor Greg Goodnight. “These places already have streets and sewers, and receive police and fire protection. Almost every empty lot in these areas is a wasted opportunity. By building new homes in these neighborhoods we are increasing density, stabilizing or increasing existing property values, and enhancing the neighborhood appeal.”
Each home is designed with an open floor plan and will be built with quality materials.
“The City of Kokomo and KCDC worked with Indiana-based SRKM architecture to create five designs that meet the trends and desires of today’s home buyers, while respecting the character of our neighborhoods.” Mayor Goodnight said.
The program has the support from two of the most respected organizations in Kokomo: The Home Builders Association of Howard County and The Realtors Association of Central Indiana.
“These homes will be built in historically important and established neighborhoods.” said RACI Executive Vice President Amy Pate. “The demand for housing, and especially quality homes, is only growing. Kokomo is in need of new housing stock in the heart of the city. The REALTORS® of Central Indiana are thrilled to see this program in Kokomo.”
“The Home Builders Association loves to see innovative ideas, so we were pleased to be asked for input and to partner with the City of Kokomo and KCDC. There is no doubt that this program will have a lasting positive impact on Kokomo.” said President of the HBA of Howard County Steve DeLon.
The program will be catalyst for increased development and investment. The homes will be sold to individuals on the open market. Funds collected from the sale will go back into the program to finance the construction of additional homes.
The KCDC is placing the first two homes out for bid this week. The two new homes will be located in the Near West side on West Taylor and West Jefferson Streets.