YORKTOWN, IN – The Town of Yorktown’s Town Council paved the way for a $6 million commercial investment along the new Civic Green by approving an economic development agreement with Rebar Development at a Council meeting on Monday night. The Oliver project meets several of the goals outlined in Yorktown’s Downtown Redevelopment Plan by bringing high-quality, multi-generational places for residents and visitors to live, do business, and be entertained.
“We are excited to be partnering with Rebar Development on this next phase of our redevelopment,” Yorktown Redevelopment Commission member Heather Taylor said. “Rebar has an impressive portfolio of state-of-the-art facilities, and we look forward to bringing their talents to Yorktown with The Oliver building.”
Located on Smith Street across from Yorktown Town Hall, The Oliver overlooks Morrow’s Meadow, the newly constructed Civic Green, and reconstructed Canal Street. The downtown project includes 26 Class-A loft apartments that are expected to attract young professionals, a growing workforce in and around Delaware County, and empty-nesters. Plans for the development also include a restaurant with outdoor seating along with unique, all-inclusive retail and office studios that will share building amenities. Private parking for residents and tenants will be on-site with shared parking along Civic Green for visitors.
“The Oliver is in an ideal location—essentially the culmination of our entire downtown redevelopment efforts,” said Bryan Smith, a Yorktown Town Council member. “The proximity of this project means downtown will benefit from a heightened sense of community and increased foot traffic to local businesses.”
“We worked closely with Yorktown’s leadership team to design and propose a project that we believe uniquely meets the goals of the Downtown Plan, enhances the quality of life options in the area, and furthers the vision of downtown Yorktown becoming a central Indiana destination,” said Shelby Bowen, President of Rebar Development. “Yorktown’s investment in the downtown amenities is a natural fit with our goal to develop and own places people want to live, work, and visit.”
The Oliver, named after the founder of Yorktown, Oliver Hampton Smith, will feature modern one- and two-bedroom loft apartments with balconies overlooking Civic Green and Morrow’s Meadow, high-quality interior finishes, full-size washer and dryer, and shared building amenities, including a clubhouse room with kitchen, fitness center, pet-washing station, indoor bike maintenance and storage room and co-working space with conference room.
“Yorktown and Delaware County have a growing population of young professionals, and The Oliver will cater nicely to that audience—as well as more seasoned professionals too,” said Town Council member Lon Fox. “This project will boost our local economy and benefit the entire community.”
“Our firm is focused on creating high-quality developments in Indiana’s best communities and The Oliver will continue that tradition. Rebar Development is grateful to be a partner with the Town and County on this important project,” said Bowen.
Construction on The Oliver is expected to be complete in Fall 2021. To learn more, visit www.rebardev.com.