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12-21-2007 2007 sees major growth in residential developments
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12-21-2007 2007 sees major growth in residential developments
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o�sou Tx <br /> F dx <br /> :J b <br /> W eFacE � � <br /> y� a 1, a2 <br /> 1865 <br /> Office of the Mayor <br /> NEWS RELEASE <br /> December 21, 2007 <br /> 10 a.m. <br /> 2007 sees major growth in residential developments <br /> Contact: Mikki Dobski, Director of Communications&Special Projects, 235-5855 or 876- <br /> 1564, or Bob Mathia,Assistant Director of Economic Development, 235-9371 <br /> The number of residential units receiving tax abatements grew more than sixfold in 2007 <br /> compared with the previous year, with nearly $41 million anticipated in improvements <br /> this year, compared with just $5.7 million in 2006. <br /> That's the result of a new report prepared by the City's Department of Community and <br /> Economic Development for the Dec. 21 meeting of the Redevelopment Commission. <br /> In 2007, a total of 286 units are being improved with support from residential tax <br /> abatements. That figure is up 653 percent when compared with the 38 residential units <br /> that received tax abatements in 2006. <br /> A 128-unit multi-family apartment complex and new construction of single family homes <br /> by developers in the Lafayette Falls and Keenan Court subdivisions accounted for most <br /> of the change. But additional residential construction also took place in the central part of <br /> the city, the West Washington neighborhood and the Northeast Neighborhood. <br /> In one of the year's most high-profile projects, Kendall-Weiss LLP, 828 E. Jefferson <br /> Blvd., is spending $1.17 million to build six new 1,800-square foot homes in vacant <br /> downtown-area property near Notre Dame Avenue and Wayne Street. <br /> The number of tax abatements requested for single-family homes being built by <br /> individuals remained at 8, the same number for both 2006 and 2007. <br /> "This new investment in South Bend will help us expand our residential base and spur on <br /> new growth in both population and economic development," said Mayor Stephen J. <br /> Luecke. "South Bend consistently ranks among the nation's most affordable cities for <br /> housing. The fact that this growth occurs at the same time as a nationwide housing slump <br />
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