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South Bend Redevelopment Commission <br />Regular Meeting — August 16, 2002 <br />A <br />6. NEW BUSINESS (CONT.) <br />C. South Bend Central Development Area <br />(1) continued... <br />frontage, waterfalls and the East Race. <br />Holladay would provide security which <br />consumers have indicated they want. In <br />addition, the site is convenient and <br />accessible. Mr. Phair asked and answered <br />the question; will we have buyers? <br />Holladay believes the answer is yes, but <br />noted the need for Commission support. <br />He then introduced Mr. Frank Perri, a <br />Holladay Properties partner in charge of <br />development in northern Indiana. <br />Mr. Perri distributed a report derived from <br />a study completed by the Urban Land <br />Institute which shows that the <br />condominium market is the hottest single <br />segment of any market in the country. Mr. <br />Perri displayed an elevation picture of <br />"The Waters Edge" viewed from Colfax <br />Street. The project is attractive, high <br />profile and very "Chicago - style" relative to <br />construction and architectural style. It <br />includes several flats which would <br />overlook Colfax and the river. One third <br />of the units would be street side with two <br />thirds being on the river. There will also <br />be six townhomes on the river's edge. <br />These townhomes will mask the parking <br />facilities from the street side and from the <br />river side. Elevators would be located in <br />the center core. The first floor will have <br />commercial space available for a high end <br />restaurant, an upscale deli type grocery, or <br />cafe, florist, dry cleaners, etc. Mr. Perri <br />commented that their plans not only <br />L <br />PRESENTATION BY HOLLADAY CORPORATION ON <br />DEVELOPMENT OF THE FORMER WHARF <br />RESTAURANT SITE. <br />