MCHPS celebrates HUGE win with Retreat at Mineral Springs entering construction phase

By | December 18, 2016

From Morgan County Historic Preservation Society:

After more than two years in development, the Retreat at Mineral Springs, and $8.4 million affordable senior housing project has entered the construction phase!

This project will rehabilitate three historic landmark buildings: the Morgan County Sheriff’s Residence and Jail, the Martinsville Sanitarium (Kennedy Home), and the Kivett’s 5 & 10 building in downtown Martinsville. A total of 38 apartments will be created. The project is expected to be complete in early 2018.

MCHPS has owned the Old Jail for more than 20 years. In early 2014, the board of directors realized it could no longer be a good steward of the property and sought a qualified developer. Flaherty & Collins responded to our RFP. MCHPS then introduced Flaherty & Collins to the other two buildings in the project.

The Retreat at Mineral Springs represents a HUGE SAVE in Martinsville! The project is MCHPS’s largest and most significant involvement since the organization was established in 1991.

See below for the official news release.

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SENIOR HOUSING DEVELOPMENT TO REUSE THREE HISTORIC BUILDINGS IN DOWNTOWN MARTINSVILLE

Martinsville, Ind. – December 14, 2016 – Thirty-eight studio, one and two-bedroom apartment homes will be developed with the adaptive reuse of three historic buildings in downtown Martinsville through a collaborative effort between the City of Martinsville, Flaherty & Collins Properties and Community Service Center of Morgan County.

According to Martinsville Mayor Shannon Kohl, the Martinsville Sanitarium (Old Kennedy Home), the Morgan County Sheriff’s Residence and Jail and the Kivett’s Five and Dime building will be adapted into The Retreat at Mineral Springs, an $8.4 million development for residents 55 years and older.

“We want Martinsville to be home for our residents through their entire lifetime. The Retreat at Mineral Springs will provide high quality senior housing for this cherished segment of our population while at the same time preserving and reusing historic structural assets in our community.

“It is a win-win all the way around. This development is a first step in creating momentum for more growth and progress in our downtown and our community overall.

“Projects of this magnitude take hard work and teamwork from a number of organizations to accomplish, so we are pleased and proud to work with the talented professionals at Flaherty & Collins Properties, Community Service Center of Morgan County, Morgan County Historical Preservation Society, Indiana Housing and Community Development Authority (IHCDA), First Merchants Bank, R4 Capital, Myszak + Palmer Architects and CICOA Aging & In-Home Solutions,” Kohl said.

The apartment homes will feature Energy Star appliances and will be certified to Gold National Green Building Standards that will help reduce ongoing monthly utility bills for residents.

CICOA Aging & In-Home Solutions will be located on the first level of the Kivett’s building to provide aging and disability resources and services for Morgan County and Martinsville residents as well as those living at The Retreat at Mineral Springs.

According to Community Service Center of Morgan County (WellSpring) Board Representative Gary Oakes, WellSpring is truly excited to partner in the revitalization of downtown Martinsville.

“Our own building is so representative of a bygone age in Martinsville and it, along with the jail are included on the National Register of Historic Places. The restoration of these buildings along with the vacant Kivett building will permit this part of the town’s history to live on, while providing a much needed service to our community,” Oakes said.

In business since 1993, award-winning Indianapolis-based developer, builder and manager of mixed-use, multi-family properties throughout the nation Flaherty & Collins Properties will develop, construct and manage the project.

According to Flaherty & Collins Properties Vice President, Development Julie Collier, “this is an exciting project for us and we’re glad to finally be at this point. We believe this is a very positive project for Martinsville. We’re able to preserve some well-recognized local historic assets while also providing senior housing.”

The project is scheduled to be completed by the end of 2017. Those interested in learning more about The Retreat at Mineral Springs should contact Collier at 317-816-9300.