Thrive Alliance and Flaherty & Collins Properties officially opened Historic Greensburg Square today, completing the final piece of a 15-month rehab of downtown Greensburg. Residents, city officials, planners and investors in the project joined representatives of the Greensburg-Decatur County Chamber of Commerce on the steps of the former Decatur County YMCA to formally cut the ribbon on the Historic Greensburg Square adaptive reuse project during a grand opening ceremony Wednesday afternoon.

Historic Greensburg Square, which broke ground in April of 2014, is an adaptive reuse of four vacant historic buildings, in close proximity, for uses that benefit the community of Greensburg by increasing downtown housing opportunities. The redevelopment enhances and celebrates the historic character and charm of downtown Greensburg. Historic Greensburg Square residents will enjoy immediate access to many local downtown amenities.

The project has been a collaborative effort between Isaac Larrison, Thrive Alliance, Flaherty & Collins Properties and the City of Greensburg. Thrive Alliance developed the project, and Flaherty & Collins Properties served as partner, guarantor, general contractor and property manager. Studio Three serves as the architect & engineer, and McKinley Development as finance consultant.

“We are thrilled to officially open Historic Greensburg Square. This has been an exciting project – from a community standpoint being able to provide downtown housing coupled with services, but also from a historic preservation standpoint.” said Duane Miller, Vice President of Community for Flaherty & Collins Properties. “There is a lot of excitement in the community over this project and we are ready to share the results of all the efforts.”

“This was a very challenging project to complete, especially the Seitz Hotel and adjacent building which were heavily damaged in the 2011 tornado that hit Decatur County,” said Mark Lindenlaub, Executive Director of Thrive Alliance. “Renovating four vacant historic buildings – including the YMCA – has already brought a lot of positive energy to the courthouse square area. We’ve felt fortunate to be part of this exciting addition to the Greensburg downtown.”

Greensburg Mayor Gary Herbert noted how important the YMCA was in his youth and said he was glad the city was able to work with Thrive Alliance, Indianapolis-based development/property management firm Flaherty & Collins Properties, and the numerous banks and other corporate and nonprofit entities involved in bringing the project to fruition.

Apartment units are designed to hit National Green Building Standard Gold level. Energy use is expected to be 20 percent less than conventional construction.

Historic Greensburg Square is funded by Alliant Capital, Indiana Housing & Community Development Authority, The Federal Home Loan Bank of Indianapolis, City EDIT Funds, Alma Taylor Foundation, and deferred development fees. First Merchants Bank and MainSource Bank supported the project by providing funds for the construction bridge loan for the development.

For more information on Historic Greensburg Square, visit www.historicgreensburg.com.