By Brian Werth
Herald-Times Business Editor
June 25, 2004
Dozens of workers put the finishing touches Thursday afternoon on the four-story, $15 million, 59-unit luxury apartment complex called The Kirkwood, on the western edge of Bloomington’s downtown business district.
Most of the individual units have stately names, including Monarch, Ambassador, Regency, and Presidential and feature a traditional design. Several units, however, are decked out in a “retro” style, with polished cement flooring and ultra-modern lighting.
The finishing work was being done in preparation for Thursday evening’s Greater Bloomington Chamber of Commerce Business After Hours networking party, conducted in a tent outside The Kirkwood, at 315 W. Kirkwood Ave.
“It’s a chance for us to show off the building,” said Jim Murphy, president of CFC Properties, the real estate arm of Cook Group. CFC has been the biggest player in the redevelopment of Bloomington’s downtown for 30 years, spending tens of millions of dollars to restore or create such buildings as the Graham Plaza, Fountain Square Mall, the Antique Mall, and the Depot.
“We want the community to see what we think is a very unique product,” Murphy said of The Kirkwood. “We’re proud of it.”
The exterior of the George Ridgeway-designed structure is brick, with limestone accents on all sides featuring architectural details that complement other downtown buildings.
Tours of the complex, with its four towers, two distinct buildings and a 19th-century classic revival design, were conducted in the early evening.
The apartment complex is one of a handful of new residential projects in downtown Bloomington that promise to bring more than 1,000 new residents to the center city by the fall.
Murphy said his company spared no expense to create a high-end living experience with many urban amenities.
So far, about 30 percent of the units are leased, Murphy said.
There are eight different floor plans for the one, two, and three-bedroom units. The interiors have hardwood floors and top-end carpeting, crown molding, extra-wide doors and windows and luxurious fixtures in the kitchen and bath. The custom wood cabinets are Amish-made.
The smallest unit is 708 square feet in size, and the largest is 1,761 square feet. Several of the large units have sprawling terraces with expansive views overlooking much of Bloomington. All of the units have at least 9-foot-high ceilings, but several corner units at the top of the towers have 20-foot-high ceilings.
Rents range from $950 per month to a high of $2,200 per month.
“We think we’re right in line with what the market will bear,” Murphy said. “There’s nothing else like it in Bloomington. We wanted to create something that didn’t exist before. Now we have downtown living for the business professional right here in Bloomington.”
Murphy said signed tenants so far include Indiana University faculty members, retired couples, business professionals and several university students. Some of the units have been leased by corporations to be used when there is a need to house a visiting client or partner.
Each unit also has a washer and dryer, ceramic-tile flooring, high-speed Internet access, private balconies and terraces, and a lower-level garage with secured access.
Tenants park in a secured garage with individual storage units and controlled access. The common area on the rooftop provides one of the best views of Bloomington.