The $5.3 million Canal Commons project consists of two, complimentary developments. One, is a renovated building in historic downtown Delphi, and the second is a new building on Market Street, near Canal Park.
Market Street (New Construction):
The new building on Market Street consists of 8, one-bedroom units, 20, two-bedroom units, a community room and staff offices, that total 37,063 SF. Additionally, the site boasts a lovely outdoor recreation space, and fills a specific void for this area by providing affordable housing for seniors.
This particular site was formerly a storage yard for the local electrical utility purveyor. As such, there were high levels of contaminates in the soil that made the site less than desirable for the typical developer. By cleaning these contaminates, Keller Development was able to turn around a burdensome property for this community. A choice that reflected well on their scoring for award of Low Income Housing Tax Credits (LIHTC).
Downtown Mixed-Use Development (Renovation):
The renovated building in historic downtown Delphi is a Mixed-use development and was a contributing project to Delphi’s 2012 Stellar Community Award. Work here included repurposing the upper floors of four downtown buildings into affordable housing for seniors. The two upper stories consist of 9, two-bedroom units and 7, 1-bedroom units.
The first floor commercial space (5,890 SF) was partially occupied at the outset of the project, but finishes were tired, and showed signs of distress from ever-changing tenants. A portion of this project provided for modernization of the first floor commercial spaces, making them more appealing to the targeted tenant type identified in the communitiy’s Stellar Communities Plan.