As the saying goes, a rising tide lifts all boats. This philosophy is never more applicable than when it comes to the newest development in Frankfort: Nickel Plate Flats being constructed by Iron Men Properties.
The brainchild of long-time friends Joe Blake and Mike Sandry who share an interest in community development and multi-family real estate investing, Nickel Plate Flats is a 74-unit luxury apartment development happening in Frankfort’s historic downtown square.
The first development of its kind in the community, Nickel Plate Flats provides modern urban downtown living with walkable access to Frankfort’s downtown amenities. The four-story, 60,000-square-foot building offers 11 studio apartments, 43 one-bedrooms, 18 two-bedrooms and two executive suites.
The amenities package includes granite countertops, Energy Star stainless steel appliances, vinyl plank flooring, modern lighting, ceiling fans, washers/dryers, walk-in closets, on-site parking, housekeeping, 24-hour maintenance, courtyard space, lobby space with an Internet bar, individual balconies and a host of “firsts” for this type of development within Clinton County (see Nickel Plate Flats “firsts” sidebar).
Rents range from $575 – $1,395 per month with both 12-month and shorter-term leases available.
In addition to appealing to Frankfort’s industrial workforce, Blake and Sandry believe Nickel Plate Flats will be attractive to seniors who love the city but no longer want to maintain a home, to young professionals working at many companies just outside of Frankfort, to couples just starting out who aren’t ready for homeownership yet and to long-term visiting employees and executives who need corporate housing.
For those who already signed leases in Nickel Plate Flats, Blake explains that after safety and certain basic and luxury amenities, potential residents consider affordability and location. Renting versus buying provides greater flexibility and mobility.
Interestingly, all but one of the renters signed to date are from outside of Frankfort, demonstrating a project of this quality brings new residents into a community.
“We want folks interested in Nickel Plate Flats to ask lots of questions and shop around. Choosing where to live is one of the biggest decisions in life,” Blake said. “There are several good places in Frankfort to rent, but for the person interested in all the benefits Nickel Plate Flats offers, we believe it’s the best and only choice.”
June 9 grand opening
When asked what guests can expect to experience at the June 9 grand opening, Blake offers a one-word answer: joy. Iron Men Properties will host the official opening on Saturday, June 9 from 3-8 p.m. with a ribbon cutting at 4 p.m. with Mayor Chris McBarnes and other city and county officials.
The celebration will include tours, refreshments, a live broadcast from WILO radio from 3-6 p.m., a raffle and door prizes. Guests will receive a “point” for attending the event, can receive an additional “point” for “liking” Nickel Plate Flats on Facebook and receive 25 “points” for leaving a review of Nickel Plate Flats on Google. Each point increases guests’ chances of winning a large ticket item at the event, along with other prizes.
The model for the project is scheduled to be available for viewing by Thursday, May 31. Anyone interested in leasing an apartment should call 765-605-1245, visit nickelplateflats.com or email Mandy Bunch at [email protected].
Reservations can be made for only $199, with $100 holding an apartment and $99 for the application process.
“We are looking forward to showcasing the quality of our project that sits right on the courthouse square. We want residents to be proud of the collaborative effort undertaken for this development and to understand what Nickel Plate Flats represents toward the future success of Frankfort, from the quality of the construction to the amenities we are offering,” Sandry said.
Nickel Alley
Unique to Frankfort, Nickel Alley is just south of Nickel Plate Flats and is being converted from an asphalt-covered dumpster location into a vibrant outdoor entertainment space. Transformed with tables and chairs, specialty lighting, beautiful landscaping and music on-demand, this space can be enjoyed by Nickel Plate Flats’ residents as well as community members.
Why Frankfort?
When Sandry and Blake first visited the Gem City in January 2016, they noticed the northeast corner of the courthouse square was in poor condition and in need of significant redevelopment.
“It wasn’t hard to envision an outstanding downtown project in that location. With so many people seeking a return to revitalized downtowns, we believed – and believe even more now with our work in the community – that Nickel Plate Flats will spur a return to downtown living in Frankfort,” Sandry said.
Like neighboring Lebanon, where Iron Men Properties has developed multiple projects, Frankfort’s large industrial workforce has an underserved housing need. Since Frankfort has not had a new market-rate housing development in more than 25 years, the large local workforce understandably has been looking elsewhere for its housing needs.
According to Sandry, “With the development of Nickel Plate Flats, we want to fulfill that need and end their search.”
As American businessman Gil Penchina (former CEO of Wikia, Inc. and vice president and general manager, international at eBay) has said, momentum begets momentum.
Sandry and Blake clearly believe in that philosophy.
“More residents in the downtown mean more business activity downtown and more activity leads to more businesses,” Sandry said. “Iron Men Properties’ $7.3 million investment in Frankfort is proof of our conviction.”
Speaking of momentum building on momentum…
Prairie Creek Park
A major piece of Frankfort’s downtown revitalization efforts is Prairie Creek Park. This $4.5 million investment will be the City’s newest green space, designed as a family-friendly recreation and performing arts venue on the north side of Washington Street, directly across from Nickel Plate Flats.
The park also will include a dog park and new playground equipment, adding a brand-new amenity within easy walking distance for all Nickel Plate Flats’ residents. This project is a true public/private partnership with $665,000 contributed toward its creation from some of Frankfort’s generous corporate citizens and individual business owners.
Public/private investment: key to success
According to Blake and Sandry, the warm reception they received during their first visit to Frankfort reinforced their decision to make a significant investment in the community. “City and County officials knew from our first conversation together that to attract quality developers, they needed to be willing to assist with standard economic incentives. Nickel Plate Flats is a true community endeavor made possible through teamwork.
“Mayor McBarnes, the Frankfort City Council, Redevelopment Commission, Clinton County Council and Commissioners, the Chamber of Commerce and the Historic Preservation Commission served very supportive roles. Their involvement and assistance were critical in getting the project off the ground and implemented smoothly.
“We listened carefully to the input of these civic leaders and others in the development of the project, resulting in Nickel Plate Flats having an historic flavor complementary to the courthouse square, blended with a contemporary multi-family format with the finest amenities,” Blake explained.
Iron Men Properties: a snapshot
Established in 2013, the Iron Men Properties’ name came from the Iron Man 70.3 triathlons Blake and Sandry competed in together. They liken the challenge of a 1.2-mile swim, 56-mile bike ride and 13.1-mile run to the challenge of running their own development business.
“Anyone who is going to invest in multi-family real estate needs to have a long-term view. It takes time to build or acquire an asset and time for the value of the asset to increase. To be successful, it takes discipline, hard work, planning, patience, and vision; the same characteristics and dedication to last 70.3 miles in a triathlon,” Blake said.
After exploring their partnership, Sandry and Blake realized they have complementary skills, with Sandry a talented financial manager and marketing executive and Blake skilled at facility design, construction and maintenance.
Proverbs 27:17 directs Iron Men Properties’ business philosophy: As iron sharpens iron, so one man sharpens another. Sandry and Blake are committed to practicing good stewardship with the resources entrusted to them.
Perhaps more than many developers, Blake and Sandry focus on improving the communities in which they do projects, rather than simply working on the project. The partnership is inspired by Jeremiah 29:7: But seek the welfare of the city…and pray to the Lord on its behalf, for in its welfare you will find your welfare.
“We like to be involved in true public/private partnerships and focus our investment in projects that improve the quality of life in communities, so they are left better than when we started. Our credible, collaborative effort with city officials is done with this goal in mind. When our projects are complete, there is a strong sense of community pride and accomplishment,” Sandry said.
Clearly, Iron Men Properties believes in philosopher Aristotle’s approach: We are what we repeatedly do. Excellence, therefore, is not an act but a habit.
For more information on Iron Men Properties and Nickel Plate Flats, check out: http://www.ironmenproperties.com/ and https://www.facebook.com/nickelplateflats/
Sidebar
Firsts offered at Nickel Plate Flats:
- rooftop terrace
- electronic vehicle (EV) parking with three on-site chargers available
- three additional charging stations in Frankfort (provided by Iron Men Properties and installed by city staff)
- on-site resident bike storage with a maintenance station
- GigaSpeed fiber optic Internet directly to the units
- wireless thermostats
- security cameras throughout the building (using a mobile app, residents can check capacity in the parking lot and monitor activity around the building in real-time)
- keyless entry for all residents (guests must be buzzed in from the main entrance)
- property listed on Airbnb by searching “Frankfort” then “Nickel Plate Flats” with a studio and a two-bedroom apartment available for a daily rate