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South Bend Redevelopment Commission <br />Regular Meeting - December 19, 1997 <br />6. NEW BUSINESS (CONT.) <br />r. continued.... <br />use of the renovation, that in the long <br />term, it will be less than a viable piece of <br />property in the long run for the community <br />and will not add, in fact to the high density <br />core concept that we want to pursue and <br />have been pursuing since 1965 through the <br />planning process. That is the make -up of <br />the block, approximately 33,000 sf of land, <br />four owners, three buildings, all three of <br />which do not necessarily support or <br />enhance the plan for the downtown 1985 <br />Plan. <br />In terms of the surrounding uses that are <br />outside the dense core area, questions may <br />arise from the Commissioners about what <br />other kind of adaptive space is <br />there —what would be C office space if it <br />would be adapted. We could talk about <br />the Ries' Furniture building down here, we <br />could talk about the Medows' building up <br />here, we could talk about Shillings here. <br />There is also the Law building across the <br />street and all totaled through a preliminary <br />assessment... there is about a twenty -four <br />percent vacancy rate in either existing, <br />totally vacant buildings and other under <br />utilized buildings, I would say, fall into a <br />Class C category if they were adapted for <br />office use. So there are a number of <br />spaces. <br />Presently, we semi - annually conduct with <br />BOMA (Building Owner Management <br />Association) and Project Future semi- <br />annual surveys of the downtown office <br />F:\ HOME\ CPHIPPS \WPDATA \COMMSN\121997.MIN -30- <br />