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Anderson's Wigwam Gym To Become Apartment Building

By Sarah Fentem

Posted September 17, 2014

The historic Wigwam gym in Anderson is being turned into a 60-unit apartment building and sports complex.

Two Indianapolis-based real-estate companies, Pinewood Properties and BWI, took control of the city's storied high school arena earlier this month.

BWI President Gary Hobbs says Hobbs says the estimated $15 million to $20 million plan will restore the 9,000-seat gym with hopes to rent it out for high-profile tournaments and sporting events. The gym's classrooms will be converted to affordable family apartment units.

"We're excited because we think we have a solution that minimizes the operating burden here by bringing the housing component to it," Hobbs says.

Anderson and the school district have had a hard time finding a use for the property.

Earlier this year previous investors unexpectedly backed out of buying the gym at the last minute due to lack of funding.

But Anderson's Deputy Director of Economic Development Mike Fischkorn says he thinks BWI and Pinebrook will be able to follow through on the deal.

"They're there to have a successful project, and if they didn't think it was going to be successful they wouldn't do it," Frischkorn says.

At last week's city council meeting, Anderson allocated $100,000 toward to the renovation to show their support for the project.

BWI says they plan to secure funding for the project by March and have construction underway by next fall.

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