The Goshen Chamber of Commerce helped celebrate the groundbreaking of the Ariel Cycleworks Housing Units project Nov. 19.
Brownsburg-based AP Development is redeveloping the former Ariel Bicycle / General Rubber site in Goshen. The $31 million project will create 135 apartments and 5,000 square feet of commercial space on 4.2 acres.
The project will be built on an abandoned brownfield site in the heart of Goshen. The city has no capacity in its system to absorb stormwater runoff from the site. All stormwater will be absorbed on site through stormwater management systems, including green infrastructure, underground storage facilities and permeable hardscape.
“This project is a fantastic step forward for our community, and we can’t wait to see it come to life,” the Goshen Chamber of Commerce said.
The project is funded through a combination of the HUD 221(d)(4) program, Indiana Regional Economic Acceleration and Development Initiative funding (READI) and Tax Increment Financing.
Ariel Cycleworks is on the corner of Plymouth Ave. and 10th St. in Goshen. The project is slated for completion early 2026.
