Richmond, Ind. — May 28, 2025 — Earlham College’s Revitalize Richmond, in partnership with the Economic Development Corporation (EDC) of Wayne County, the City of Richmond, and AP Development LLC, proudly announces a transformative $30 million redevelopment effort. The project targets five iconic downtown properties: the Knollenberg Buildings, the Hittle Building, the former BMO Harris Building, the Jenkins Building, and the Odd Fellows Building.

AP Development LLC, an Indiana-based real estate development firm known for revitalizing underutilized historic properties, will lead the restoration and adaptive reuse of these historic structures. Slated for completion in summer of 2027, the finished product will feature mixed-use spaces combining market-rate apartments with vibrant commercial storefronts.

“We are honored to restore these landmark buildings in a way that respects Richmond’s history and reflects the city’s vision for the future,” said Jon Anderson, President of AP Development. “Richmond’s downtown has incredible character, and we are committed to working closely with local partners to ensure this investment benefits the community for the long term.”

This project is a cornerstone of the broader Revitalize Richmond initiative and is complemented by other Revitalize Richmond-funded projects that focus on building rehabilitation, small business support, and quality of life enhancements centered in downtown Richmond.

“This is exactly the kind of bold investment that Revitalize Richmond was designed to support,” said Dakota Collins, Director of Community Relations at Earlham College. “A vibrant downtown is essential to a thriving city. By preserving these historic buildings and bringing new life to Main Street, we’re laying the foundation for lasting growth, connectivity, and opportunity.”

Once completed, the project will boast approximately 100 market-rate apartments, including studio, one-bedroom, and two-bedroom units, and nearly 20,000 square feet of renovated commercial storefront space. After the renovation, AP Development will manage the leasing and maintenance of these properties. AP Development is already working with current tenants in these buildings to determine their needs in a renovated space and help retain them in the project.

“This project is a major step forward. Not just for downtown, but for our entire local economy,” said Valerie Shaffer, President of the EDC. “When we strengthen our urban core, we support employers across the region by attracting talent, boosting quality of place, and expanding housing options. It is a win for the whole county.”

AP Development will bring significant equity to the project, which will be united with funds from a TIF bond from the City of Richmond and federal historic tax credits. The EDC will manage additional funds contributed to the project by Earlham College’s Revitalize Richmond initiative.

“We’re excited to be part of this project and look forward to seeing these buildings brought back to life,” said Ron Oler, Mayor of Richmond. “This is an important investment in our downtown and a positive step for our city.”

All five buildings are contributing structures within the Richmond Downtown Historic District, listed on the National Register of Historic Places.

Knollenberg Building (809-817 E Main): Established in 1877 by George H. Knollenberg, this building was once home to a prominent family-owned department store that served the community until 1995. The building was expanded in 1888 and the Annex on 8^th Street was added in 1896.

Hittle Building (828-832 E Main): Constructed in 1878 with John A. Hasecoster as the architect, the Hittle Building stands at the northwest corner of 9th and Main Streets as a three-story brick and limestone Italianate building.

Former BMO Harris Building (728 E Main): Constructed by Second National Bank in 1910, this building is located on the northwest corner of 8th and Main Streets. The original building was built in a neoclassical style featuring polished marble facades. The front façade featured an arch flanked by large, two-story arched window openings. When Second National Bank moved across the street to the former Dickenson Trust Building, Peoples Home and Savings Association operated out of the building. In 1964, the now-familiar metal slip cover, featuring a repeating diamond motif, was placed over the original façade.

Jenkins Building (726 E Main): Adjoining the former BMO Harris Building, this Italianate building, constructed in 1890, boasts that C. Francis Jenkins, inventor of the original motion picture machine, presented the first motion picture show at this location.

Odd Fellows Building (725-735 E Main): Formerly the home of the local chapter of the Independent Order of the Odd Fellows, this building is situated at the southwest corner of 8th and Main Streets, and has been a significant part of Richmond’s architectural landscape since 1868.

Revitalize Richmond is a strategic investment initiative by Earlham College that seeks to redevelop downtown Richmond through the pillars of Activate, Build, and Connect with various community partners. The initiative is funded through a $25 million grant to the College from a private funder and complemented by $83 million in other community-based investments. For more information, visit revitalizerichmond.org.

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