05-18-2007 Studebaker building to get $14 million rehabilitation

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Phase I of exterior restoration work, which we gauge to be the critical marketability threshold of the building," Laurent said. "Public dollars will provide an incentive for the initial phase of the project, which will bring with it important structural and aesthetic improvements to the structure. The private market will complete the picture." The developer also will qualify for Federal Historic Preservation tax credits on the project. The city's $600,000 commitment is divided equally between infrastructure improvements —including curbs, sidewalks, traffic and lighting along South Main Street—and land acquisition and demolition for parking to support the project. The city's support and assistance with planning for the area is critical to the success of the project, Chamberlain said. The Redevelopment Commission also will consider recommending to the South Bend Common Council that the developer receive the maximum tax abatement allowable with consideration of the impact of circuit breaker legislation. The Board of Public Works, Historic Landmarks Foundation and the South Bend Community School Corp. each will consider associated resolutions in quick succession beginning next week to allow for immediate and simultaneous closing on the property, Laurent said. Between 1868 and 1963, Studebaker produced wagons and automobiles that brought global recognition to South Bend. Built in 1909, the Studebaker Administration Building, 635 S. Main St., served as the company's headquarters until the mid-1960s. It was designed in a Renaissance Revival style by architect Solon Spencer Bemen, who also designed the downtown JMS Building. For 37 years, the Studebaker Administration Building served as the Education Center and administrative offices for the South Bend Community School Corp. The building was declared a local historic landmark in 1992 by the Historic Preservation Commission of South Bend and St. Joseph County. The four-story facility was placed in 2006 on Historic Landmarks' "10 Most Endangered List" after the school corporation vacated the facility. "The corporation's announcement of the planned demolition of the building for a new warehouse coupled with negative local perceptions of the building's size — 150,000 square feet—were of concern to Historic Landmarks,"Zeiger said. "But our experience over time has demonstrated that these historic industrial buildings can be reused in new and innovative ways." In November 2004, the nonprofit entered into an agreement with the school corporation that the facility would be transferred to the Redevelopment Commission or Historic Landmarks if the private foundation were able to secure a developer with the resources for "an economically viable restoration and redevelopment plan for the property." Discussions about the future of the property between the city, Historic Landmarks and the SBCSC date back to the late 1990s. SBCSC in August 2004 bought the former Century Building, 215 S. St. Joseph St., completing a$7.6 million renovation before relocating in summer 2006. 3