Here is an artist’s rendering of a proposal for the Gatke site in Warsaw. Artwork provided by Rebar Development.

By Dan Spalding
InkFreeNews

WARSAW — The city of Warsaw is working with a Fishers developer on a mixed-use apartment project for the old Gatke property.

The dilapidated industrial site north of the railroad tracks and west of McKinley Street has been an eyesore for decades. While numerous ideas have been pitched, a proposal heard Monday, Dec. 6, stands out compared to anything else city officials have ever considered.

The plan by Rebar Development includes a mix of commercial uses with as many as 70 apartments, many of which would be lofts.

The idea right now is to transform the massive warehouse into commercial space. All other buildings would be demolished to make room for a four-story building with commercial on the first floor and apartments above, according to the developer.

In summary, the project would cost about $14.4 million for both buildings with Rebar providing about 65% of the costs.

Shelby Bowen, president and a partner of Rebar Development, presented his vision and expressed an eagerness to work with the city, which owns the land.

On Monday, the city redevelopment commission agreed to work on an agreement that would allow the two sides to work together to determine if a plan can work.

Bowen said they would provide $2.3 million in cash and borrow another $7.2 million as part of their investment.

Rebar Development specializes in public-private partnerships that incorporate apartments with commercial businesses.

Rebar has been working with the city and Kosciusko Economic Development Corp. on the concept.

The apartments would be market rate.

Bowen said the site is “ripe” for development and that they like the direction the city is moving.

“It struck me immediately as just perfect (location) for what we look for,” Bowen said. “I really love the location.

The design would work to honor the Gatke legacy. The massive warehouse would be stripped down to the steel structure, some of which could be left exposed.

Rebar began four years ago and has developed a list of similar public-provide housing projects around the state that Bowen urged city officials to review.

Bowen said their most recent apartment projects have quickly been leased.

In turn, city officials voiced a sense of confidence rarely heard when it comes to redeveloping the tract, which contains several empty brick buildings.

“This is a beautiful project,” said Mayor Joe Thallemer. “We’ve looked preliminarily at what types of things the city may have to do to support this. It’s all doable. It’s all within the realm of this community to put something like this down in that spot that’s just been an eyesore forever.”

Thallemer urged the redevelopment commission to work out an agreement that would allow the city to work with Rebar.

The proposal, he said, is “exactly what we’ve been looking for,” Thallemer said.

The city’s Community and Economic Development Director, Jeremy Skinner, said he sees it as “an urban market-rate apartment development that’s close to Winona Lake on our trail and has that walkability to the downtown.”

Bowen said if an agreement is struck, construction could begin next summer.

Redevelopment Commission member Michael Klondaris noted that with another housing project proposed for a few blocks to the north on Argonne Road and plans for a roundabout on the south end of Argonne, the Gatke project would add to the hub of activity in the area.

A layout of the development as proposed by Rebar Development.

The Gatke property has been vacant since the 1990s. A new proposal would retain much of the framework of the huge warehouse. This InkFreeNews file photo is from 2019.