ANDERSON — In mid-November, an early winter had already powdered the small shrubberies and trees lining Jackson Street with snow. But beneath the icy coating, the promise of growth lay waiting.
Lights can be seen late at night in the 12-story Tower Place building, which had been vacant the past few years. Apartments are now being leased, and more rentals inside the historic 1930 structure are planned.
Just to the south along Jackson Steet, work is nearing completion for senior citizen housing in the upper floors of the YMCA. The $5.9 million project is creating 26 one-bedroom, three two-bedroom and an efficiency apartment to be called Parkview Place, in reference to nearby Dickmann Park.
Levi Rinker, who oversees downtown progress for Anderson’s Economic Development Department, said the anticipated population increase and plans for the heart of the city are generating opportunities – and growth.
“There are a lot of new things going on, and that is exciting,” Rinker said. “We have some good incentives to sell people on downtown Anderson.”
Incentives that vary depending on business, development and need, he said.
In addition to business development and counseling services, through the Indiana Small Business Development Center, there is a Revolving Loan Fund for start-up low interest rate loans up to $100,000.
This funding can be used for site acquisition or working capital, plant acquisition, construction, property rehabilitation, equipment purchases, leases and inventory acquisition, Rinker said.
Other programs include the Flagship Enterprise Center, which offers a Micro-Loan Program, and the City of Anderson has a downtown Municipal Riverfront District that allows for three-way liquor licensing for restaurants, arts-related organizations, or micro-brewery start-ups.
There is a tax increment financing (TIF) district for larger projects and an industrial area zoned within the parameters of downtown for TIF development. And a Small Business Incentive Program can be used for signage, landscaping, parking lot, or curb appeal, depending on the amount of investment made, number of jobs created and location of the organization.
The city is also providing a Façade Improvement Grant and assistance with structural support and roofing issues, Rinker said.
“Again, these incentives are great for starters, but it all goes back to the individual/organization’s exact needs,” Rinker said. “Perhaps they just need better utility connections or fiber connection and aren’t really concerned with curb appeal. With that we are able to help as well. It all goes back to them.”
While there is hope for growth, surveying all of the downtown space available for new and expanding businesses is difficult. Rinker said such information has not been tracked by his department.
Kyle Morey, CEO of the Madison County Chamber, said having detailed information specific to downtown Anderson would be useful.
“It is unfortunate we do not have one resource with that information,” he said. “I know the city is trying to list all of the available property in the city of Anderson, but it is not honed in to the downtown."
Maintaining an ever-changing property list with varying rental rates is a huge undertaking, Rinker said.
“I’ve seen it from as low as $6 per square foot and as high as $14,” he said. “Something we are unable to control.”
Rinker noted that some of the downtown commercial spaces offer parking advantages, cleaning services and other amenities.
Youri Frakine, owner of the Tower Place, said that, after he fills his 43-unit apartment building, he will consider investing in other enterprises downtown. He's toyed with the idea of opening a sandwich shop in the ground level of his apartment building, if he senses that downtown denizens want such a restaurant.
Frakine knows that the people who move into the downtown area will dictate its future.
"We will be bringing people back downtown. That is what matters, and the city of Anderson is also doing a lot toward that."