The Herald Bulletin

Evening Update

Local Business

May 14, 2013

Elwood’s Cattail Estates has new owners

ELWOOD, Ind. — Cattail Estates, a residential development surrounding part of Cattails Golf Club in Elwood, has been sold.

The 87-unit single-family development was signed over last month to Cattail Estates, LLC, which is owned by Richard Smith of Cicero, and Jon Altman and Hans Kok, both of Carmel.

Smith said the LLC plans to maintain the development’s current zoning. Of the 87 surveyed lots, 85 are zoned residential and two are commercial.

“Our goal is to start building homes and create a strong cohesive residential neighborhood,” Smith said, adding he doesn’t see any need yet for renovations, since the streets, lighting and sewer are already in place.

Smith said the development was a good investment. He sees big things in Elwood’s future, especially after recent jobs announcements from Chrysler and Noblesville-based Warner Bodies, which said in March it would relocate its manufacturing facility to Elwood.

Warner plans to invest over $3 million for development over the next few years and eventually bring 150 new jobs, the biggest jobs announcement in Elwood since 1987, when it landed automotive component manufacturer, ELSA, LLC.

“We have been investing in Elwood for years,” Smith said, “So we are very excited about the recent business development that has taken place. In fact, we anticipate even bigger news for Elwood and the surrounding area in the very near future.”

Like Baylee Pulliam on Facebook and on Twitter @BayleeNPulliam, or call 648-4250.

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