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South Bend Redevelopment Commission <br />Regular Meeting —March 13, 2012 <br />6. NEW BUSINESS (CONT.) <br />C. Airport Economic Development Area <br />(7) continued... <br />seventh floors of Ivy Tower as <br />condominiums and bringing the South Shore <br />there. How much of a challenge would it be <br />to have trains so near the residential? Mr. <br />Smith responded that the condos would be <br />nearly 70 feet above the rail. He expects the <br />condos to appeal to young urbanites. They <br />don't mind that. Instead of trying to attract <br />people and changing their behavior, he <br />expects to pull people that are already <br />comfortable in that type of environment. <br />Mr. Downes asked what portion of Mr. <br />Smith's vision is included in Phase I. Mr. <br />Schalliol outlined Phase I: <br />The Renaissance District project team, <br />consisting of both public and private sector <br />team members working with the Union <br />Station Technology Center (USTC) staff, are <br />developing a Memorandum of Understanding <br />that includes a Phase 1, Phase 2 and Phase 3 <br />plan for the development of the District site. <br />Mr. Schalliol outlined the requests from <br />USTC for the three phases of the <br />Renaissance District project. <br />Phase 1 of the project includes a request to <br />the Redevelopment Commission for the <br />following: <br />1. Sell the former Millennium <br />Environmental (ME) property to USTC for <br />$43,500 (the Commission's offering price). <br />26 <br />