Redwood is deadwood

Planned condo development succumbs to inflation

Kokomo Plan Commission director Greg Sheline disclosed to the Kokomo Common Council on April 11 that Redwood LLC has withdrawn its plans to construct a 172-unit managed residential on the city’s southeast side.

“Unfortunately, they are pulling out of the development, which is a shame,” said Sheline. “I thought that was going to be a really good development for the city. They ran the numbers again, and with the increased cost of everything, their model just wasn’t going to work.”