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 local and small businesses. 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. Elwood Haynes 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.
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. We believe The Elwood will set a new standard for the City of Kokomo and be the premier place to live within the region.”
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.
The Elwood honors Kokomo’s rich history while investing in its bright, evolving future — marking a bold, forward-looking milestone for the city.
Goodin Development is a multifamily development firm specializing in building Class A apartment communities across Indiana. They focus on creating high-quality, thoughtfully designed properties that enhance the overall community. A core part of their strategy involves public-private partnerships, working closely with city leaders and stakeholders to deliver projects that support long-term community growth. From site selection to financing and ground-up construction, Goodin Development manages every stage of the development process with a focus on transparency, strong execution, and creating long-term value for both their investors and the neighborhoods they serve.
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 in celebrating this milestone.
Event Details:
Date: Tuesday, May 20, 2025
Time: 2:00 PM
Location: 1400 East Hoffer Street, Kokomo, IN 46902
