Former Warsaw factory site to get new life
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The new Gatke Lofts building will feature 75 apartment units. (image provided)
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The developer plans to rehabilitate a former warehouse building into The Gatke Warehouse. (image provided)
Fishers-based Rebar Development on Thursday announced plans for a more than $18 million mixed-use redevelopment project at the former Gatke factory site in Warsaw.
The developer said The Gatke Warehouse and Lofts will include residential, commercial and flexible office and studio space.
Part of the project will involve the rehabilitation of the existing Gatke warehouse building, which will be transformed into a 12,000-square-foot hub, known as The Gatke Warehouse, that will feature eight, 940-squarefoot flexible live-work studio units and 4,300 square feet of commercial space.
Rebar said it will demolish dilapidated structures on the site that are beyond restoration. In their place iwll be a new building, The Gatke Lofts, that will include 75 one- and two-bedroom apartment units, a rooftop terrace, work-from-home lounge, conference room, and fitness center, among other amenities.
The factory site dates back to the early 1900s. According to the Times Union Online, Gatke Corp. took ownership of the property in 1926, where it manufactured asbestos-related brake parts before shutting down in 1992. The city has owned the site since 2003.
The developer has received financial support from the city, as well as a $4 million redevelopment tax credit from the Indiana Economic Development Corp.
“The Gatke project was a collaborative effort with local, regional, and state officials and just wouldn’t have been possible without their support and commitment,” Rebar President Shelby Bowen said in a news release. “We believe the Gatke Warehouse and Lofts will be a fantastic place to live, learn, work, and visit in the region.”
Mark Wasky, senior vice president of community affairs at the IEDC, said the project is what the IEDC aims to support.
“By rehabilitating this property in the Argonne Corridor with mixed-use space, the city is not only creating a solution for housing workforce, but it’s also beautifying and revitalizing the area, making it a more attractive place to work and relax,” Wasky said in written remarks. “This bold, future-focused project is helping Warsaw attract and retain new businesses and the workforce to support.”
The project has received approval from the Warsaw Redevelopment Commission. Construction is expected to begin in August of 2023 and is expected be complete in the winter of 2024.