Kokomo Opened New 114-Unit Mixed-Use Apartment Complex
The development at Hoffer and Elizabeth streets offers new rental options to support Kokomo’s growing population.
Updated on Oct. 12, 2026 in Apartments
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Goodin Development has officially opened a $26 million mixed-use apartment project in Kokomo. The site adds 114 new apartments and 3,000 square feet of commercial space to the city.
Why it matters
This project addresses a housing supply shortage caused by the city’s population growth from 45,000 to 60,000 residents between 2010 and 2025. The new units aim to house families drawn to the area by recent job and business expansion.
The complex features 114 units with rents ranging from $1,179 to $1,895 per month. The project represents a $26 million investment in Kokomo housing infrastructure.
The players
Goodin Development
A real estate developer responsible for the design and construction of the new mixed-use apartment complex in Kokomo.
Kokomo Common Council
The local legislative body that approved $7.2 million in financial incentives to support the project.
The details
The development, which began construction in 2025, sits at the corner of Hoffer and Elizabeth streets. It was enabled by municipal financial support including a $3 million forgivable loan and $4.2 million in tax increment financing bonds approved by the Kokomo Common Council. Residents have access to shared amenities including a fitness area, pet spa, game room, and co-working room.
Timeline
The population grew by 33 percent between 2010 and 2025.
The City Council approved project loans and bonds in 2024.
Construction on the development began in 2025.
The Elwood mixed-use development opened in October 2026.
The Home Front
This development reflects a broader shift in regional housing as cities adapt to significant population booms. It follows the trend of utilizing municipal financing tools to incentivize new residential capacity in growing urban centers.
If you are currently searching for housing, review your budget against the $1,179 to $1,895 monthly rent range. Residents should also monitor future announcements regarding the commercial space to see which local businesses or services will eventually move in.
The takeaway
The addition of these 114 units provides a new housing option for those navigating Kokomo's recent economic growth. Consider tracking upcoming developments near Hoffer and Elizabeth streets to understand how new commercial tenants might impact local neighborhood services.
Further reading
For more on local rental availability, visit Apartments.
Source note: This article includes information reported by WISH-TV | Indianapolis News | Indiana Weather | Indiana Traffic.
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