SOUTH BEND, Ind. (WSBT) — South Bend Common Council approved a 291 unit apartment complex Monday night.
This will be the proposed Riverwalk Apartments.
Developer JC Hart Company will demolish the vacant South Crowe building and build two new apartment buildings, plus a four-story parking garage.
It’s across from Howard Park on the other side of the St. Joseph River.
City leaders say the project should be done by 2028 and is in a prime location in the middle of South Bend.
South Bend Director of Economic Investment, Caleb Bauer, says it can also help bring traffic to downtown businesses.
“Bringing in more people into the downtown area can help support our downtown businesses, and more businesses on the east bank. We know people in a downtown make a downtown vibrant.“
The project would involve $61.5 million in private investments.
Infrastructures like new streets and utilities would be funded as part of the Indiana READI 2.0 grant awards.
Monday, common council approved nearly $30 million in bonds to assist JC Hart with the project.
Those bonds will be paid over the next 25 years.
“They are bonds that use future tax from this development to pay the debt services over a 25-year time period,” says Bauer.
The complex would employ six new permanent full-time jobs, salaries would range between $40,000 and $70,000.
The public and the council spoke in favor about the new development.
With the approval, city leaders say movement for this project will happen quickly.
“The city is designing infrastructure that would support this site. We would be receiving preliminary designs back here in the next month, and we would be looking to bid out that work later this spring,” Bauer says.
Officials say demolition of the South Crowe LLP building near East Wayne Street will begin this summer.