04-03-2007 City Announces Renovation Project for Keybank Building

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p4 r no,U TH 8�� 4 � U d W PFACE � 1565 Office of the Mayor NEWS RELEASE Tuesday, April 3, 2007 2PM Contact: Jeff Gibney, Director of Community&Economic Development, 574-235-9371 Melanie Green, Baker &Daniels, 574-234-4149 CITY ANNOUNCES RENOVATION PROJECT FOR KEYBANK BUILDING Baker& Daniels LLP to become new tenant in remodeled building SOUTH BEND, Ind. — The City of South Bend announced today a new downtown revitalization effort that includes the investment of more than $7 million in the KeyBank Building and the relocation of one of the city's largest law firms to the renovated building. The 14-story KeyBank Building and plaza at the corner of Michigan and Jefferson streets will soon undergo an extensive interior and exterior renovation. Baker & Daniels LLP has signed a 15-year lease for the top four floors of the building, and is joining the building's owners, The Hinman Company, and KeyBank in investing between $7 million and $8 million to renovate the building. South Bend Mayor Stephen J. Luecke is pleased with Baker & Daniels' decision to remain and reinvest in the city's downtown. "I'm excited that this landmark to our downtown skyline will benefit from a revitalization effort that will transform the building all the way out to the street level," Luecke said. "Our downtown is an important indicator of the economic strength of our local economy, and this renovation and Baker & Daniels' long-term commitment to the downtown illustrates that downtown South Bend is the business center of our community." "KeyBank and Baker & Daniels have made a long-term commitment to their growth in the business district," added Rich MacDonald, The Hinman Company's chief operating officer. "This renovation will help preserve the KeyBank building as one of the premier venues in the downtown area and bring additional value to all of the tenants in the building." -more-