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South Bend Redevelopment Commission <br />Regular Meeting - October 7, 1994 <br />6. NEW BUSINESS (Cont.) <br />e. continued... <br />quality project in downtown South Bend. <br />They've been kicked around a little bit over <br />the last five years —by outmigration to <br />suburban office space, etc. <br />The Holladay Corporation always expected <br />that that end of town would be developed. <br />They've lost tenants because of the stigma of <br />being at that end of the downtown. One <br />large building on this site would anchor that <br />end of town and provide safety for its <br />tenants. <br />Mr. Perri noted that the same tenant who is <br />interested in this site was interested in space <br />in One Michiana Square. Holladay was <br />ready to make a proposal to them for that, <br />but some of the existing tenants expanded <br />and went into long term leases, thereby <br />requiring Holladay to look for a different <br />site. <br />Mr. Perri agreed wholeheartedly with Mr. <br />Panzica that leaving the choice on this site <br />up to the tenant will degrade the site <br />development. He felt that the single <br />building Holladay is proposing is the best <br />use of the site and would be deemed so by <br />the tenant. He asked the Commission to <br />consider the quality projects the Holladay <br />Corporation has always done when making <br />its decision. <br />Mr. Panzica noted that Panzica Development <br />indicated to the staff that if they were the <br />exclusive developer for this site, they would <br />G <br />-16- <br />