Logan Square, and the 43 apartments it will bring to downtown Logansport, should be finished around Christmas.
This is a change from the original plan of finishing the top four floors of the five story building one at a time, then renting them out, said Indianapolis developer John Dugan, the owner of Logan Square LLC.
He said that a Lafayette-area Credit Union’s willingness to invest in the $3.5 million project once he put in new windows and made initial improvements made the difference.
“They don’t even have a branch here in Logansport. For them to take a leap of faith, it’s a very big blessing for us,” Dugan said. “Without (the credit union), I couldn’t get this done.”
Residents in Logansport also seem excited for the renovation. The company has already had more interest in apartments than they’ll have units available, said Dugan.
“We’ve had extreme interest in the apartments. It’s exceeding the 43 units we have,” Dugan said. “I’m pretty confident we’ll have the apartments filled fast.”
The people who’ve asked about apartments include school district employees, Tyson Foods executives and doctors at the hospital.
Dugan bought the building about a 18 months ago from Paul Gothra, who moved on to reviving the former Marsh supermarket stores in town — the one on the west side at 824 N. Third St. is due to open this month.
The building once housed the historic Captain Logan Hotel — where important political speeches were also given — and the Logan Theater. It eventually became business space for about 50 offices.
While renovating, Dugan’s crews removed file cabinets and about 100 desks that had just been abandoned.
“They didn’t take it with them,” said project superintendent Bill Burton.
Contractors gutted the entire building, including redoing the walls, plumbing and electricity.
The demolition took three to four months, Burton said.
Dugan said the actual reconstruction work began in May. The company also converted to LED energy efficient lighting and the smoke detectors will be wired in.
“We’re going as local as possible” and using union contractors, Dugan said.
The renovations will use paint from the local Sherwin-Williams, kitchen cabinets from Bailey’s in North Judson and plumbing and HVAC work from Marcus Goodwrench.
“I think people are going to be happy with this place once it’s finished,” he said.
Dugan hasn’t set rental rates for the apartments yet but will look at market rates here. The building will have four studio apartments, 23 one-bedroom apartments and 12 two-bedroom apartments.
There’ll also be four disabled-accessible apartments — one on each floor, where people who use wheelchairs can access the kitchen sink, shower and other spaces easily.
Amenities for tenants should include keyed entry to the building so uninvited people can’t enter, reserved parking spaces, top-of-the-line appliances, two washers and dryers on each floor and wiring for high speed internet.
With the landscaping in spring, he wants to have a mural on the east outside wall.
A kiosk store on the first floor that will be similar to ones in hotels, Dugan said. Residents can choose what they want and check out by card with no employees, just security cameras. However, there won’t be the larger public store originally planned by Gothra.
The company is seeking something for the first floor that will bring in traffic, including doctors, attorneys and title companies, as well as stores. “I think we want more retail traffic,” he said.
He’s also considering businesses that would be beneficial to the apartment dwellers, such as a gym or dry cleaner.
Dugan expects 120 to 130 residents in Logan Square once it’s completed.
“It’ll bring people downtown,” he said. “This building could be a jumpstart for downtown.”
He estimates the reconstruction has been putting $1,000 a day into the local economy already as construction workers get gas, shop and eat in Logansport.
Logansport residents, Mayor Dave Kitchell and city officials have been welcoming.
“I know the mayor has a lot of great ideas and a lot of great visions, and we’d love to be part of it,” Dugan said.
Kitchell said the renovation will be good for the downtown economy.
“It’s a win-win in a lot of ways,” he said.
It will help the housing market in Logansport, which needs 250 to 400 apartments or rentals over the next few years, according to a recent study.
The city also has a higher number of older and younger singles than most places, and these apartments will provide living space for them, especially empty nesters, Kitchell said.
The millennial generation also likes living in downtown areas where things are within walking distance and cars aren’t necessary, he added.
“There’s a market out there for this,” he said.
The city is now working with three to four developers who want to invest in Logansport, Kitchell said. It’s less expensive to renovate here than in places like Lafayette or Indianapolis, so he foresees more projects in the near future.
Dugan said he’d be interested in creating more apartments in Logansport and its downtown. However, that won’t happen until Logan Square is done.
Those interested in Logan Square can contact John Dugan at 317-650-1505 or at email@example.com
Reach James D. Wolf Jr. at firstname.lastname@example.org or 574-732-5117.
Reach James D. Wolf Jr. at email@example.com or 574-732-5117