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14 <br />South Bend Redevelopment Commission <br />Regular Meeting— August 16, 2002 <br />6. NEW BUSINESS (CONT.) <br />C. South Bend Central Development Area <br />(1) continued... <br />the building that Holladay would be <br />adequate in today's interest rate <br />environment to pay 100 percent. In <br />addition, Holladay is seeking Commission <br />support to slow traffic on Colfax Street <br />with improvements as well as on- street <br />parking. The traffic calming <br />improvements could be constructed in <br />phases. They would create a look on <br />Colfax Street, from St. Joseph Street to <br />Niles Avenue, similar to what Niles <br />Avenue is today. <br />There is also a plan to clean up Sycamore <br />ILI Street. In order for the Waters Edge <br />Project to be successful, Holladay must be <br />able to represent the improvements <br />planned for the surrounding area. There <br />are properties located on Sycamore Street <br />which have been added to the SBCDA <br />acquisition list, but the redevelopment <br />process must be completed. There are <br />other potential development sites for high - <br />end residential development in the East <br />Bank if the Waters Edge proves <br />successful; but to ensure success, Holladay <br />feels Commission must renew its <br />commitment to the East Bank, particularly <br />for other residential and retail projects. <br />Mr. Kahn asked if a market analysis has <br />been completed. <br />Mr. Perri responded that they've looked at <br />numerous condominiums in the market <br />place, taking into consideration different <br />11 <br />