{"id":98983,"date":"2026-03-31T15:28:50","date_gmt":"2026-03-31T19:28:50","guid":{"rendered":"https:\/\/masterzradio.net\/?p=98983"},"modified":"2026-03-31T15:32:25","modified_gmt":"2026-03-31T19:32:25","slug":"historic-building-to-be-transformed-into-lofts-and-restaurant-in-downtown-peru","status":"publish","type":"post","link":"https:\/\/masterzradio.net\/?p=98983","title":{"rendered":"Historic building to be transformed into lofts and restaurant in Downtown Peru"},"content":{"rendered":"\n<!--AUTO-AD-BEFORE-->\n<ins class=\"adsbygoogle\" style=\"display:block\"\n        data-ad-format=\"fluid\"\n        data-ad-layout-key=\"-gw-3+1f-3d+2z\"\n        data-ad-client=\"0531879237494766\"\n        data-ad-slot=\"5600453644\"><\/ins>\n    <script>(adsbygoogle=window.adsbygoogle||[]).push({});<\/script>\n\n<p class=\"wp-block-paragraph\">PERU, IN \u2014 A major redevelopment project is set to breathe new life into one of<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Downtown Peru\u2019s most historic landmarks. The 2 N. Broadway Lofts and Monocle project will<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">restore and rehabilitate a key building located in the center of town, preserving its rich history<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">while introducing vibrant new uses for the community.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Originally constructed in 1895, the three-story, 36,600-square-foot building has long served as a<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">cornerstone of architecture and commerce in Peru. Over the years, it has housed financial<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">institutions, retail shops, professional offices, and even a drapery manufacturer. While the first<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">and second floors have seen recent use, the third floor has remained unoccupied since the<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">early 1950s.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Adding to the building\u2019s unique character is an observation room above the third floor\u2014<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">rumored to have once been used by bank guards to watch for potential robbers, including the<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">infamous John Dillinger. One wall of the space still bears signatures from residents dating back<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">to the early 1900s, offering a tangible connection to the building\u2019s storied past.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Following the decision by the most recent financial institution owner to sell the property, the<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">City of Peru and the Miami County Economic Development Authority (MCEDA) leveraged their<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Key Building Rehabilitation Program to facilitate its redevelopment. This program exemplifies a<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">successful public-private partnership, providing matching funds of up to 50% to restore<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">significant downtown properties. To date, four buildings have been revitalized through the<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">initiative.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MCEDA negotiated the purchase of the property and issued a call for private development<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">partners. In alignment with the City\u2019s vision for downtown growth, the ideal use included a<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">destination restaurant on the first floor, along with professional office spaces. Market-rate<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">apartments will be on the second and third floors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That vision became reality when Gilbert Development Properties (GDP), led by local developer<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Jeremy Gilbert, submitted a proposal. After several months of collaboration, an agreement was<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">finalized between GDP, the City of Peru, and MCEDA outlining responsibilities and financial<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">contributions for the project.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The total investment for the redevelopment is $3.7 million. Funding includes:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2022&nbsp;$625,000 READI Grant from the State of Indiana<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2022&nbsp;$625,000 Lilly Endowment Blight Elimination Grant<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2022&nbsp;$936,000 in Redevelopment Tax Credits from the Indiana Economic Development<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Corporation<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2022&nbsp;$700,000 in CEDIT funds from the City of Peru<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2022&nbsp;Remaining funds provided by Gilbert Development Properties<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Upon completion, the building will be home to Monocle, an upscale, full-service restaurant on<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">the first floor, along with 15 modern downtown apartments on the second and third floors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Monocle will be owned and operated by Allie Alwine, who brings extensive experience from the<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Indianapolis and Carmel restaurant scene. Her vision is to create a refined yet welcoming dining<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">destination featuring American and French-inspired cuisine. A standout feature of the<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">restaurant will be the incorporation of the building\u2019s original bank vault and vault door into the<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">dining experience. Monocle aims to serve not only local residents but also attract visitors from<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">across the region.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The upper floors will offer 15 market-rate apartments in a variety of layouts. These units will<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">feature hardwood floors, quartz countertops, stainless steel appliances, in-unit washers and<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">dryers, dedicated office spaces, storage units, private off-street parking, high-speed internet,<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">24-hour surveillance, and secure electronic access. Located within walking distance of<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">downtown amenities, the apartments will provide a modern living experience in a historic<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">setting.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0The project represents the collective efforts of many individuals and organizations, including<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mayor Don Sturch, the Peru City Council, Clerk-Treasurer Andrea Newnum, the MCEDA Board<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">of Directors, Indiana Economic Development Corporation READI program, North Central Indiana<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Regional Planning Council and Steven Ray, the Key Building Rehabilitation Committee, and the<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MCEDA Revolving Loan Committee. Special recognition is also given to Jeremy Gilbert and his<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">team at GDP, and Allie Alwine of Monocle.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additional thanks go to Matthew Jelenek and Regine Brindle for their work documenting the<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">building\u2019s historic features through photography.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The 2 N. Broadway Lofts and Monocle project marks an exciting new chapter for Downtown<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Peru\u2014honoring its past while building a vibrant future. You can find more information about 2<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">N. Broadway Lofts and Monocle at their website&nbsp;www.2BroadwayLofts.com<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Construction is set to begin in April 2026, with completion estimated for October 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For more information, please contact:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Miami County Economic Development Authority, 1525 W. Hoosier Blvd, Peru, IN 46970, Phone: 765-689-0159<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/masterzradio.net\/wp-content\/uploads\/2026\/03\/image-4-1024x768.png\" alt=\"\" class=\"wp-image-98984\" srcset=\"https:\/\/masterzradio.net\/wp-content\/uploads\/2026\/03\/image-4-1024x768.png 1024w, https:\/\/masterzradio.net\/wp-content\/uploads\/2026\/03\/image-4-300x225.png 300w, https:\/\/masterzradio.net\/wp-content\/uploads\/2026\/03\/image-4-768x576.png 768w, https:\/\/masterzradio.net\/wp-content\/uploads\/2026\/03\/image-4-1536x1152.png 1536w, https:\/\/masterzradio.net\/wp-content\/uploads\/2026\/03\/image-4.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n<!--AUTO-AD-AFTER-->\n<ins class=\"adsbygoogle\" style=\"display:block;text-align:center\"\n        data-ad-format=\"autorelaxed\"\n        data-ad-client=\"0531879237494766\"\n        data-ad-slot=\"9212395598\"><\/ins>\n    <script>(adsbygoogle=window.adsbygoogle||[]).push({});<\/script>","protected":false},"excerpt":{"rendered":"<p>PERU, IN \u2014 A major redevelopment project is set to breathe new life into one of Downtown Peru\u2019s most historic landmarks. The 2 N. Broadway Lofts and Monocle project will restore and rehabilitate a key building located in the center of town, preserving its rich history while introducing vibrant new uses for the community. Originally &#8230; <a title=\"Historic building to be transformed into lofts and restaurant in Downtown Peru\" class=\"read-more\" href=\"https:\/\/masterzradio.net\/?p=98983\" aria-label=\"Read more about Historic building to be transformed into lofts and restaurant in Downtown Peru\">Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-98983","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_featured_media_url":"","rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Wade Weaver","author_link":"https:\/\/masterzradio.net\/?author=3"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/masterzradio.net\/?cat=1\" rel=\"category\">Uncategorized<\/a>","rttpg_excerpt":"PERU, IN \u2014 A major redevelopment project is set to breathe new life into one of Downtown Peru\u2019s most historic landmarks. The 2 N. Broadway Lofts and Monocle project will restore and rehabilitate a key building located in the center of town, preserving its rich history while introducing vibrant new uses for the community. Originally&hellip;","_links":{"self":[{"href":"https:\/\/masterzradio.net\/index.php?rest_route=\/wp\/v2\/posts\/98983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/masterzradio.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterzradio.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterzradio.net\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/masterzradio.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=98983"}],"version-history":[{"count":4,"href":"https:\/\/masterzradio.net\/index.php?rest_route=\/wp\/v2\/posts\/98983\/revisions"}],"predecessor-version":[{"id":98988,"href":"https:\/\/masterzradio.net\/index.php?rest_route=\/wp\/v2\/posts\/98983\/revisions\/98988"}],"wp:attachment":[{"href":"https:\/\/masterzradio.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=98983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterzradio.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=98983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterzradio.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=98983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}