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RM 04-15-88
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RM 04-15-88
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South Bend <br />Rescheduled <br />lopment Commission <br />ar Meeting - April 15, 1988 <br />6. NEW BUSINESS (Cont.) <br />c. continuea... <br />with the other structures in the area, <br />having three or four floors, elevators <br />and derground parking. <br />Mr. �borde asked if Can -Am had taken the <br />area's water table into consideration in <br />pla ing the tuck -under parking. Ms. <br />Webe responded that they had. <br />Mrs. Kolata noted that Ms. Weber and the <br />arch'tect have been in South Bend twice <br />and have met with the City Engineer, the <br />Building Commissioner, Director of the <br />Area Plan Comanission, a representative <br />from the Fire Dept. and representatives <br />from the Department of Economic <br />Development to make sure that the design <br />was meeting codes and regulations as it <br />was developed. The developer plans to <br />meet with the Design Review Committee <br />Apri 25th prior to attending the Common <br />Coun l meeting for approval of tax <br />Mr. iimtz asked if the market study that <br />Can- had done was favorable. Ms. Weber <br />respDnded that it was very favorable on <br />the urrent absorbtion of new product on <br />the Tiarket. The site itself is very <br />des# able. Population growth was not as <br />rapio as a lender would like, but <br />sati factory. <br />Mr. Conard asked what the rent level <br />would be. Ms. Weber responded that they <br />are tentatively looking at $460 /mo. for a <br />one bedroom unit and $530 /mo. for a two <br />bedroom unit. Parking fees of <br />approximately $25.00 per unit would be <br />extra. <br />Ms. Auburn expressed the opinion that the <br />developer had done a lot of work very <br />fast. Mr. Nimtz agreed. <br />Uponja motion by Mr. Piasecki, seconded <br />by 4. Auburn and unanimously carried, <br />-7- <br />
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