As a child, Jeff Broughton loved visiting downtown Kansas City during Christmas time.
All the retail businesses dressed up their windows with extravagant displays. People came from near and far to marvel at the storefronts of places like Macy’s, Gimbels and Katz Drugs.
Shortly thereafter, in the 1960s and early '70s, urban sprawl started and shopping malls came with it. The mass exodus of the business districts and residential areas destroyed downtowns.
As Broughton looked back at pictures of Kokomo from the '50s and '60s, he saw a downtown that was bustling. The arrival of big box stores like Walmart made shopping a convenient, one-stop experience, leaving those businesses on the courthouse square with no way to maintain a livelihood.
Many small towns were left in shambles by that shift. Broughton sees Kokomo as a lucky city. It’s the county seat able to take advantage of all of the business the courthouse provides.
Relatively small towns like Kokomo across the nation have seen attorney’s offices take over the majority of the office space in downtown.
“[Mayor] Greg Goodnight’s vision is he wants to slowly and methodically move those attorneys back to the second levels and bring retail and restaurants and clubs back down to the downtown area,” Broughton said. “If I were to create a Petri dish with the perfect opportunity for a guy like me, it’s Kokomo. In the time I’ve been here, I’ve never brought one of my [past] investors [to town who] didn’t invest here.”
A real estate developer by trade, Broughton had been buying non-performing notes across the country when he arrived in Kokomo in August of 2013.
In Kokomo, he owned percentages of 17 or 18 properties, but he had never been to the city. He received word from his office that he had a house in town that was scheduled to be condemned.
He came to Kokomo to smooth things over and reassure those in charge that he just needed time to work on the house in question.
He happened to show up a few minutes before a Board of Public Works meeting. He wasn’t dressed for it, but decided to go anyway.
He acquainted himself with city brass, and 18 months later, he now owns 22 commercial buildings in Kokomo. What he’s done with those properties in such a short time is not short of awe-inspiring.
His efforts to revitalize the old train depot district on Buckeye Street really stand out, taking portions of the old Tudor and Currens-Zapfe buildings — parts of which hadn’t been inhabited for decades — and transforming them into modernized retail shops.
“I’ve always had that ‘it takes a village’ mentality,” Broughton said. “One person isn’t going to make it happen. I come in here and try to do what I can, but without the support of the city and others in town, it couldn’t happen.”
In just a short time, businesses such as Gingerbread House Bakery have relocated to the depot district, while new business ventures, such as Gabetta’s Restaurant, The Candy Shoppe, and Oscar’s Pizza have popped up in the spruced up buildings.
In addition, Broughton has attracted barbecue-themed and Mexican restaurants to Buckeye Street, and a white building next to Oscar’s Pizza is being developed into retail space, with leases signed on two of the four spaces.
In addition, portions of the second floor of the depot district buildings are being developed into what Broughton refers to as "executive stays," a private hotel where each room will be equipped with its own kitchen and television. Room service will be available from the restaurants downstairs, as well as access to a gym and laundry areas.
“On Buckeye Street specifically, I’ve had a lot of support from the community,” Broughton said. “We walk the street, and if you look, I had a rendering of this street done about a year ago. And if you look at that rendering and compare it to what we’ve done, it’s exactly the same. We were able to do a lot on the street this year.
“The city was instrumental in helping us with the streets and sidewalks. We got great guys like Matt and Lauren [Gaines from Gingerbread House] downstairs. Those are the hardest working people I’ve ever met. They are just amazing. [Gabetta’s owner] Chris Thatcher, I hear him in the alley at 3 in the morning working. Those type of people — I’ll do anything I can to help them if they want to help themselves.”
Broughton’s business, KipCor, has also gone to work on the old Firestone Building on North Union Street, where redevelopment efforts have attracted the Indiana Behavior Analysis Academy. A portion of the building was recently leased as office space, while the second floor is being developed for Systems in Motion, a California-based software developer.
“For the last year, success wise, if anything, I’ve gotten an opportunity to meet some great people here in Kokomo that have been supportive,” Broughton said. “I wish everything would’ve gone quicker, but I’m going as fast as I can and am committed to this market and have no plans to leave.
“We’ve had amazing success with it in just a short time of being in there. These [tenants] are all people who are committed to their business.”
In addition, he’s attracted L.A. Auto Gear, a California-based auto parts distributor to town, and has entered business ventures with various other owners at clubs and bars such as The District, The Coterie, Halftime Sports Bar & Grill, The Social and Mulligan’s.
Further, he has a hand in student housing developments for Kokomo’s international school.
And he’s not done yet.
“I have some projects going on right now that I’m not at liberty to talk about, some of which will bring a number of jobs to town,” he said. "But, I just want to get finished with the stuff I’m working on.
“It takes a village,” he repeated. “I have met some of the most amazing people, life-long friends, here. I love it. No one has to thank me. Their continued efforts to help me tells me volumes. The city has been amazing to work with. Amazing.”