The fifth and final phase of Tippe River Downs is complete, and to celebrate the apartment complex had a ribbon-cutting ceremony with the Kosciusko Chamber of Commerce Tuesday and an open house later in the day.
Danielle Bailey, property manager for Tippe River Downs, 2619 Shelden St., Warsaw, said there are 12 apartments in each of the six buildings of phase five for a total of 72. All Tippe River Downs facilities combined, there are over 230 residences in the complex.

    Shown is the kitchen in one of the handicapped-accessible apartments at Tippe River Downs phase five, 2619 Shelden St., Warsaw. Photo by David Slone, Times-Union
  

“Each unit is 1,428 square feet. They’re three bedrooms, two baths. And then they each get a one-car detached garage that comes with it,” she said of the phase five apartments.
The layouts of the apartments are all very similar. The only difference is flooring and cabinet coloring. Units include a refrigerator, dishwasher, stove, microwave, electric washer and dryer.
There is one handicapped-accessible apartment in each of the three-floor buildings. The buildings have elevators so people don’t have to climb the stairs.
The apartments can be leased to anyone 18 and older, and are not just for senior citizens.
“We do have some restrictions. Income-wise, we just require at least 2-1/2 times the amount of income coming in compared to the rent,” Bailey said.
Currently, Tippe River Downs has two different specials going for rent and each special has two different options. Security deposit is $500.
By signing a 13-month lease, one month is free. Rent would be $1,850 a month plus $123.05 for water, sewer and trash for a total of $1,973.05. Or, a person could sign a 13-month lease at a reduced rate of $1,708 plus $123.05 for water, sewer and trash.
The second special is for a 15-month lease, with two months free, for the normal price of $1,973.05, including the water, sewer and trash. Or, sign a 15-month lease at a reduced rate and get the first month free and the second month half price. Rent would be $1,788.05, which includes water, sewer and trash.

    The apartments in phase five of Tippe River Downs comes with three bedrooms. Pictured is one of those bedrooms unfurnished. Photo by David Slone, Times-Union
  

Karen Gehrke, director of property management, said they always had a plan that there would be five phases to Tippe River Downs.
“We feel like there is a need. There’s always a need for different types of housing to provide the needs for different types of people. So this is more of a luxury, higher-end unit than what we would normally have,” she said.
The need for housing at every price point is still strong in Indiana.
“Every community needs the whole spectrum of housing,” Gehrke said. “You can’t just rely on the lower end, you can’t just go in the middle, you can’t just have high end. You have to have a wide spectrum of housing to meet everybody’s needs, and I see that everywhere, every community.”
With the phase five apartments, she said they just hope to offer residents something a little bit different and a little more luxurious.
“We have a great location here. Warsaw is a great community, a lot of potential here. It’s just one more little niche that we feel like is needed in the housing,” Gehrke said.
Construction of phase five started about a year ago. The Certificate of Occupancy was received from the city of Warsaw on Monday, so people can start leasing apartments now.

    The apartments in phase five of Tippe River Downs comes with two bathrooms, one of which is pictured. Photo by David Slone, Times-Union
  

“I just think we want to pitch our whole community, that we do offer housing for any segment of the population. We have these, which are three bedrooms. We have two- and three-bedroom single-family homes. We have two-bedroom, one-bath and two-bath garden apartments with attached garages. We have senior buildings, where you need to be 55 or older. So we’ve tried to incorporate all of the areas that we could,” Gehrke said.
There’s also a “very nice” clubhouse, a swimming pool and a fitness center. There’s a fire place in the clubhouse, a game room and televisions.
“It’s a great place if they want to walk. It’s a very nice walking community. We’re close to shopping. Close to the highways for easy access. Close to the school, close to Walmart, banking, restaurants,” Gehrke said.
Bailey stated that since taking over as the property manager, she noticed that many people in the city and surrounding areas think Tippe River Downs is for people 55 and older.
“That’s a big misconception here that we get, ever since we opened years ago,” Gehrke said.
“We’re not just for seniors,” Bailey agreed. “... We have a vast majority of families, singles, 55-plus. It’s basically 18 and up, it’s what all of our properties are. We do have the designated buildings and apartments for residents 55-plus, but it’s not our whole community.”
“We rent to anyone who’s qualified,” Gehrke said.
To lease an apartment, email [email protected] or call Bailey at 574-267-7780.