READI funding helps Yorktown redevelopment project advance
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The town of Yorktown has received a nearly $240,000 grant from the state’s Regional Economic Acceleration and Development Initiative to help advance the next phase of a downtown redevelopment project. The money helped pay for a 0.10-acre parcel, which gives the town complete ownership of a half-square block.
The Yorktown Redevelopment Commission says with the parcel now under the control of the town, the half-square block can be assembled into one property. The commission says the larger footprint creates development advantages in terms of business sizes and tenant opportunities.
“With the use of these READI funds for the acquisition of this key parcel, Yorktown now controls a large portion of open land in our riverfront district,” said Chase Bruton, Yorktown Town Manager. “This is a prime location for future private investment in a mixed-use development.”
Bruton says the development is adjacent to the town’s Civic Green, which is a focal point of development for the Delaware County community.
With the property in place, Bruton says additional planning and development discussions will now begin to define the appropriate recommendations for the property’s redevelopment and reuse.
Yorktown is part of the East Central Indiana Regional Partnership, which received $15 million from the $500 million READI program.