Carmel, Indiana –
Goodin Development, in partnership with the City of Kokomo, is pleased to announce the official groundbreaking ceremony for The Elwood, a transformative $26 million mixed-use development set to anchor the Hoffer Street corridor. The ceremony will take place on Tuesday, May 20, 2025, at 2:00 PM at 1400 East Hoffer Street, Kokomo, Indiana.
The Elwood is designed as a 100% market-rate, Class-A community, delivering 114 modern one- and two-bedroom apartment homes and 3,000 square feet of commercial space, ideally suited for a high-end restaurant with outdoor seating. Named in honor of Kokomo’s own pioneering entrepreneur, Elwood Haynes, the project will redevelop blighted parcels and establish a new standard for quality, design, and community vibrancy within the city.
Located just 15 minutes from the new Samsung battery plant, which is bringing 2,800 new jobs to Kokomo, The Elwood is strategically positioned to meet the rising demand for high-quality housing and commercial offerings. The project’s thoughtful design features spacious apartments with quartz countertops, stainless steel appliances, LVP flooring, smart locks and thermostats, in-unit washer and dryer, tile backsplash, and a private balcony or patio in every unit. Residents will also enjoy resort-style amenities including a work-from-home lounge with a luxury rooftop patio, state-of-the-art fitness center, indoor/outdoor resident café, pet spa, indoor bike storage, and a stunning courtyard with grilling stations and a fire pit. A vibrant pedestrian plaza and open spaces are designed to foster community engagement.
“The Elwood will provide quality housing to the area and serve as a catalyst for economic growth within the City,” said Justin Goodin, Owner of Goodin Development. “We are excited to partner with the City of Kokomo to build this incredible community.”
Known as the “City of Firsts,” Kokomo has a rich history of innovation, particularly in the automotive and manufacturing sectors. Elwood Haynes, after whom the development is named, was an American inventor credited with creating one of the first gasoline-powered automobiles in the U.S. His legacy of ingenuity and forward-thinking spirit is woven into the fabric of Kokomo’s identity—and serves as an inspiration for this landmark project.
Goodin Development is a forward-thinking real estate firm focused on creating meaningful, community-driven residential and commercial spaces throughout Indiana. With a reputation for quality, innovation, and long-term value, the company has completed several high-impact developments that align with the unique character and economic goals of their respective communities.
The Elwood is expected to contribute significantly to local economic development—not only through construction-related jobs and increased tax base—but by attracting new residents and businesses to Kokomo. Its proximity to major employment centers makes it a natural choice for professionals and families alike, while the commercial component brings added convenience and vitality to the neighborhood.
By honoring Kokomo’s storied past while investing in its dynamic future, The Elwood represents a bold step forward for the city.
The groundbreaking ceremony will mark the beginning of a new era for the Hoffer Street corridor and the City of Kokomo. Local officials, community leaders, project partners, and members of the public are invited to join them in celebrating this milestone.
Event Details:
Date: Tuesday, May 20, 2025
Time: 2:00 PM
Location: 1400 East Hoffer Street, Kokomo, IN 46902
For more information about The Elwood, please visit www.GoodinDevelopment.com.
