07-20-2007 Westside to benefit from airportarea

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LaSalle Square." The Redevelopment Commission's budget for 2007 alone includes $500,000 in Airport TIE area funds for LaSalle Square in anticipation of this action. While public attention has focused on the retail and commercial benefits from the Eddy Street Commons, another impact of the project is that it provides the finances to create in the Northeast Neighborhood a residential TIE—the first of its kind statewide outside of Indianapolis. The Northeast Neighborhood Revitalization Organization is purchasing 85 lots in the Triangle area, which is bounded by Ind. 23, Eddy Street, Duey Street and the area known as the Notre Dame woods. These lots will be replated into 60 larger lots for new housing construction, 70 percent at market rate and 30 percent consisting of affordable housing. Prices are anticipated to range between $175,000 and $250,000 at market rate and $95,000 and $125,000 for affordable housing. The NNRO was convened by the city as a partnership including the neighborhood, the University of Notre Dame, Madison Center, Memorial Hospital and St. Joseph Regional Medical Center. "These initiatives will have a positive impact on our neighborhoods and will illustrate South Bend's progressive leadership in both economic development and housing," Luecke said. - 30 -