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South Bend Redevelopment Commission <br />Regular Meeting –February 19, 2010 <br /> <br />Some Granger residents have toured Mr. <br />Matthews’ Ivy Quad condos across from the <br />Notre Dame campus, but found them too <br />pricey. They were impressed with the <br />quality. Mr. Matthews believes he can build <br />units they like for a more affordable price on <br />the East Bank site. Those interested parties <br />liked the East Bank site. Two families have <br />verbally committed to purchasing units from <br />him there. He will construct those two <br />immediately and another as well as a model. <br />He’ll then construct more units as they are <br />ordered, including basements when ordered <br />at additional cost. <br /> <br />The units will all have rooftop patios. Mr. <br />Matthews noted that the site itself is a little <br />low. He intends to bring in two to seven feet <br />of additional soil to raise the development. <br /> <br />Mr. Downes asked about the long timeline of <br />36 months to completion. He asked if <br />financing was driving that timeline. Mr. <br />Matthews said the city put that timeline out. <br />He likes the leeway it gives him, but he <br />intends to get under construction <br />immediately to have the first units completed <br />by fall 2010. The 36 months give him time <br />to complete the entire ten units in case sales <br />are slower than expected. Mr. Matthews said <br />he has financing for the entire project. <br /> <br />Mr. Downes noted that a previous developer <br />wanted the Commission to improve the <br />riverbank. He asked whether Mr. Matthews <br />was going to require that. Mr. Relos <br />responded that that developer wanted his <br />development tied into the river walk and a <br />security fence was required. This <br />development is not asking for tie-in to the <br />river walk and won’t need the Commission to <br />make those improvements. <br /> 9 <br /> <br />