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South Bend Redevelopment Commission <br />Regular Meeting - November 5, 1999 <br />6. NEW BUSINESS (CONT.) <br />c. continued... <br />which Richard Best will invest $385, 000. <br />SBHF will invest $684,601 to complete the <br />remaining 8, 000 sf. The total cost of the <br />development is $1,069,601. This site is <br />within the West Washington Redevelopment <br />Target Area, the Urban Enterprise Zone and <br />the designated target area of the Downtown <br />Partnership Group. This development is the <br />second phase of the "Chapin Market " <br />project which was constructed at the <br />northeast corner of Chapin Street and <br />Western Avenue in 1997 and 1998. The <br />Save -A -Lot Grocery and the Chapin Street <br />Clinic are tenants in the existing Chapin <br />Market. <br />Construction of the new shopping center is <br />scheduled to begin in November 1999 and to <br />be completed by February 1, 2000. St. <br />Joseph's Regional Medical Center and <br />associated social service programs will be a <br />tenant in a 4,800 sf storefront and a <br />minority owned laundromat will be a tenant <br />in a 3, 200 sf storefront. The Chapin II LLC <br />will construct an additional 5, 000 sf <br />storefront, which will be made available for <br />commercial and professional uses yet to be <br />identified. <br />State approval of the building plans has <br />been secured and competitive construction <br />bids have been received. The investment of <br />Richard Best and the creation of the Chapin <br />II LLC will allow the entire shopping center <br />to be built at one time, thus creating a more <br />efficient economical construction budget. <br />V1 <br />