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South Bend Redevelopment Commission <br />Regular Meeting— December 19, 2003 <br />6. NEW BUSINESS <br />A. Public Hearings <br />(3) continued... <br />New housing investment reflects almost <br />entirely the activity of not - for - profits <br />targeting the neighborhood for heavily <br />subsidized rehabilitation and infill projects. <br />Market rate housing development has not <br />been seen at comparable levels. The <br />housing stock of the Northeast <br />Neighborhood is some of the oldest in South <br />Bend, though it has not seen the <br />reinvestment other historic neighborhoods <br />closer to downtown have. Today the <br />neighborhood is populated with a high <br />number of non - family households, which <br />tends to include student populations living <br />singly or in groups, and elderly homeowners <br />and renters living alone. The median <br />household income of the Development Area <br />is roughly 62% of that of the City of South <br />Bend. <br />Deterioration of improvements is apparent <br />throughout the neighborhood, and includes <br />both private property and public <br />infrastructure. Dilapidated storefronts and <br />shop windows with burglar bars line Eddy <br />Street and the Five Points area, reinforcing <br />negative perceptions about the viability of <br />commercial enterprise in the area. Absentee <br />landlords are a particular problem in <br />residential areas, as conversions from single <br />family homes to apartments for student <br />rentals have proliferated over time. Lack of <br />minimum setbacks, lack of a buffer between <br />vehicular traffic and sidewalks, lack of <br />pedestrian orientation of any kind, are <br />