Laserfiche WebLink
CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 26, 2026 <br /> <br />Page | 9 <br /> <br />generated by employees. In addition, although not required by the <br />agreement, the developer donated land that allowed the City to <br />significantly widen and improve the Riverwalk adjacent to the site. <br /> <br />Progress on Phase Two was delayed due to the extended construction <br />timeline of Seitz Park, which required use of the Phase Two parcel as a <br />laydown area at no cost to the City. Seitz Park officially opened in <br />Summer 2025. No RDC funding has yet been expended for Phase Two. <br />In August 2025, the Second Amendment updated project budgets and <br />timelines to account for pandemic-related cost increases and <br />construction delays. It also expanded the scope of Phase Two to include <br />an eight-story tower, 20–24 residential units, and at least 10,000 square <br />feet of Class A commercial space. <br /> <br />The Third Amendment before you today propose several additional <br />updates. It increases the RDC’s total commitment by $1 million and <br />increases the developer’s total investment to $65 million across both <br />phases, reflecting continued cost escalation outside the control of either <br />party. Since approval of the Second Amendment, the developer has <br />completed design work, advanced cost estimates, and entered City plan <br />review, where higher-than-anticipated costs were confirmed. <br />The amendment also addresses coordination with the Colfax Avenue <br />streetscape project. Because Phase Two construction will require <br />temporary use of the sidewalk and tree lawn area adjacent to the site, <br />the City will be unable to complete streetscape improvements in that <br />segment during construction. Under this amendment, the developer will <br />complete the Colfax Avenue streetscape improvements adjacent to <br />their property at the conclusion of Phase Two, using the City’s approved <br />design. <br /> <br />Additionally, the amendment updates local public improvements to <br />allow installation of necessary water and sewer infrastructure during <br />the streetscape work, avoiding future disruptions to newly completed <br />road and sidewalk improvements. Overall, this amendment reflects <br />increased investment by both the City and the developer and reinforces <br />the original vision of the Wharf as a cohesive, river-oriented <br />redevelopment that complements Seitz Park and the Riverwalk. <br /> <br />Thomas Panzika with Wharf Partners, LLC addressed the Commission <br />along with Riley Ellingsen, a partner in Phase Two. He stated that the <br />project’s goal has always been to attract downtown residents who are <br />owners and long-term stakeholders. Phase One successfully achieved <br />this; however, rising construction costs and market conditions have <br />created affordability challenges for Phase Two. City assistance remains <br />essential to keep condominium pricing competitive with lower-cost, low-