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South Bend Redevelopment Commission <br />Regular Meeting - March 6, 1998 <br />6. NEW BUSINESS (CONT.) <br />k. continued... <br />Beeler & Brown, LLC and Davey, LLC <br />constructed a mound along the back of their <br />property to create a buffer between their <br />property and the residential property. There <br />currently is a line of pines along the back of <br />their property and there will be three lines of <br />8', mature, staggered pines along the <br />property line. They have been working with <br />Tom Sexton to develop villas on their <br />property. The process for developing the <br />road system is underway. Construction of <br />the 42, 1,600 to 1,800 sf, residential villas is <br />anticipated for mid -April of 1998. <br />The economic impact assessment of the <br />r development on Lots #1 - #10 is estimated <br />to have an annual payroll of $15,896,584. <br />Chris Davey of Cressy & Everett stated that <br />he has been in the real estate business for <br />approximately 22 years and has worked on <br />Commercial/Industrial sites for a very long <br />time. Approximately 10 to 15 years ago, the <br />Industrial Foundation created some very <br />nice industrial parks but they are no longer <br />active in this area. Beeler & Brown, LLC <br />and Davey, LLC took a look at the industrial <br />market and saw a very healthy climate. Mr. <br />Davey stated that he has worked very <br />closely with Pat McMahon of Project Future <br />to find a site for industrial development. <br />Mr. Davey also stated that there are people <br />who want to be in the mid -West on a <br />temporary basis and are willing to travel to <br />South Bend, Elkhart, Michigan City, <br />-10- <br />