11-14-16 Zoning and Annexation - Laserfiche WebLink

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cities. South Bend is positioned to be a strong economic driver in the State, as well as a great incubator of business development. Mr. Jones stated that this was not only his view, but that of the State, as evidenced by the Regional Cities Initiative. Results of an IEDC study —which sought ways to research successful planning in other regions — reveal that regions that plan successfully are ideal places for individuals to live, work, and play. These are important considerations when acquiring talent, given that young professionals seek out not only cool places to live, but places of employment, recreation, and social connectivity that are within walking distance of where they live. 20,000 people make up the workday population of downtown South Bend, compared to the 3,000 who make up its resident population. The growth of this resident population is hindered by the availability of present developments. Less than sixteen percent (16 %) of housing is available within the downtown area. There is a strong, growing demand in the downtown area for opportunities to live close to work. National trends show a shift toward urban living and more temporary housing, due to factors like young professionals getting married later or young professionals taking on more mobile jobs. On the other hand, Baby Boomers are becoming empty- nesters looking for opportunities to downsize. Mr. Jones stated that these opportunities are not currently present. The downtown market is aging, and rental properties have mostly focused on student renting. This presents an opportunity for Matthews LLC to make a mark in the area. When Matthews first entered the neighborhood, his East Bank Flats were the first residential market -rate development that had been completed since the Pointe Apartments, which was finished over thirty (30) years prior. The current project will provide units ranging from one (1) to four (4) bedrooms for a wide range of individuals including young college students, growing young families needing more space, and Baby Boomers. He stated that the project would bring together people of diverse backgrounds, from many different economic statuses, and from a wide variety of stages of life. He also stated that the price range will be diverse, unlike previous projects that aimed for a higher price point. Matthews LLC is working on a pilot program for tenants to become volunteers in their neighborhood, in which hours of volunteer work count as credit toward a discount of up to fifty percent (50 %) of their monthly rent. Aside from the incentive of a discounted rental fee, this program seeks to build community through the establishment of relationships and the cooperative work of people of different walks of life. At this point, Committeemember Oliver Davis asked for the presentation to end, due to time constraints. Committeemember Gavin Ferlic made a motion to send Bill No. 41 -16 to the Common Council with no recommendation and Committeemember John Voorde seconded, which carried by a voice vote of four (4) ayes. With no further items on the agenda, Committee Chair Oliver Davis adjourned the meeting at 6:31 p.m. -'1 fully Submitted, �U\ Oliv i , ittee Chair 15