Page 48 - MACC Guide 2019/2020

44 of Placeworks, LLC, have taken and out.” Riverside Loft Apartments
on the challenge of transforming will provide 50 affordable senior
the burned-out structure into 7 apartments in downtown Madison,
high-quality apartments, 4 of which scheduled to be completed in 2020.
are 2 bedroom/2 bath/2 story
HISTORIC OPPORTUNITIES
units. The interior will be sleek and
modern with open floor plans and Those properties once seemed
dramatic windows. These windows, lost to the sands of time but caring
along with a skylight in the mid- investors scooped them up for their
dle of the building, will allow for character and potential. Sobek said
stunning natural light. The owners that while some find the remod-
are re-purposing a great deal of eling/renovation restrictions to
reclaimed wood in the interior, as be inconvenient in downtown—a
well. Meanwhile, the building’s ex- National Historic District spanning
terior will retain its historic integrity. 133 blocks—Sobek sees them as
Occupancy is slated to begin in the a plus. Along with contributing
Fall of 2019. to the town’s quaint atmosphere,
In February 2019, Denton Floyd “the historic guidelines and cove-
Real Estate Group broke ground nants support home values and the
at the former Tower Tack Factory initiative to improve properties,”
property, built in 1896 and vacant she said. “They protect your home’s
since 2007. The project is a partner- value and your investment.” The
ship made possible through the City City of Madison offers the P.A.C.E.
of Madison’s Stellar designation and program, a grant program that
the Indiana Housing and Communi- assists with exterior and structural
ty Development Authority. Brandon improvements to historic buildings
Denton commented during the in the district. If you are interested in
groundbreaking, “this building has purchasing property in the district,
a lot of history attached to it and organizations like the Cornerstone
our mission as an adaptive reuse Society can help you find the infor-
developer is to retain much of that mation you need.
history by restoring many of its Whether move-in ready location
original architectural features, inside or fixer-upper, we’ve got it all. 

46 MADISONINDIANA.COM