RM 02-24-89 - Laserfiche WebLink

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South Bend Regular Mee 6. NEW BUE b. Cor elopment Conmtission - February 24, 1989 (Cont.) Mr.l Koepfle reported that there were two bi to open at the February 20th bid Th first bid was from J & J Properties, a rartnership between Jack Hofferth and Jc1n Doster. J & J Properties propose to purchase parcels E9 -14 and E9 -15 for $1 ,950 to construct a 3,000 sq. ft. s' le story office building. Total lersing Corporation and Alpha Realty, ccupanies owned by the principals, would occupy 1,500 sq. ft. of the building. The other 1,500 sq. ft. would be speculative space. The total project cost is $150,000. The office building would be constructed on the east side of the site and would have eleven parking spaces along Niles An ternative plan for the site would be to nstruct a 5,000 sq. ft., two story office building if enough additional spaces could be secured within a two block area. 1,11 850 second bid was from Niles/Washington ciates (Holladay Corporation). They ose to purchase parcels E9 -8a and b for $17,950.00 and E9 -14 and E9 -15 $12,375.00. Parcels E9 -14 and E9 -15 d be used for parking for the osed three story, 36,750 sq. ft. ce building they plan to construct on els E3 -3 and E3 -4, awarded to the nership several months ago. The 1 project cost for the office ding for which the parking is nded is $3,450,000. mis E9 -8a and E9 -8b would be used to Ld two two -story apartment buildings Lng four units each. Anticipated :als for the units are $650 /month for )0 sq. ft. units, and $500 /month for sq. ft. units. There were no details -5- MINUTES CORRECTED AT 11/17/89 MEETING TO SHOW THAT NILES/ WASHINGTON ASSOCIATES BID FOR PARCELS E9 -8A AND E9 -8B WAS $12,375 AND BID FOR PARCELS E9 -14 AND E9 -15 WAS $17,950