Regional Cities Initiative to Advance More Quality of Place Projects in North Central
Indianapolis (Oct. 21, 2016) - The Indiana Economic Development Corporation (IEDC) has approved Regional Cities Initiative funding to support three additional quality of place projects in north central Indiana that will promote STEM programming, increase downtown housing options and support the revitalization of historic buildings in the South Bend-Elkhart region.
"Indiana is now ranked first in the Midwest and fifth in the nation for business, and the Indiana Regional Cities Initiative will play a key role in carrying this economic momentum forward,” said Governor Mike Pence. “We must create vibrant communities where top talent chooses to live, work and play. North central Indiana is investing in its residents and its future through quality of place projects that will enhance the lives of Hoosiers and support talent retention and attraction for generations to come.”
The Mill at Ironworks Plaza
The Mill at Ironworks Plaza will add 233 market-rate luxury apartment units and 16,500 square feet of retail and restaurant space in the heart of downtown Mishawaka on 3.8 acres near the Beutter Park Riverfront. The new development is estimated to generate more than $500,000 in new real estate taxes to the community each year. The Mill at Ironworks Plaza sets a tone for downtown Mishawaka, creating density, serving as an amenity and increasing social connectivity by creating a centrally-located space for residents and visitors to live, shop, work and play in one of north central Indiana's urban cores.
Total Project Investment: $41.8 million
State funding: $5.26 million
“We’re thrilled to have partnership from the Indiana Economic Development Council on this transformative project,” said Brian Prince, the lead project developer with Flaherty & Collins Properties. “We believe The Mill at Ironworks Plaza will not only add quality housing, but will also create new tax revenues for the city, as well as roughly 375 jobs through construction, retail tenants and the property staff. The development creates a destination where people want to live, work and play, helping attract employers and retain employees in Mishawaka.”
ETHOS Science Center Robotics and Information Hub
ETHOS Science Center offers a variety of hands-on STEM (science, technology, engineering and mathematics) programming for students and teachers. In order to accommodate its rapidly growing programs and activities, including the high-demand robotics program, ETHOS plans to move into a long vacant building at 1025 N. Michigan Ave. in Elkhart, which was donated by Bayer. This investment will be used to transform the building into a facility that will allow ETHOS to serve as a regional provider of STEM programming and specifically, its K-12 robotics programming.
Total Project Investment: $3.63 million
State funding: $532,325
Commerce Center Mixed-Use Development
South Bend, IN
South Bend, IN
This new construction project will add more than 200 residential units, a full-service grocery store and pharmacy in the East Bank Village of downtown South Bend. The mixed-use space will be located at 401 E. Colfax Ave. in South Bend, which is part of an 100-year-old building complex that formerly served as a power plant and currently houses several technology and medical companies. This quality of place project will enable residents and visitors to easily access services and interact with others, contributing to the region's goal of creating high-performing communities.
Total Project Investment: $49.33 million
State funding: $4.9 million