26-11 Designating Resolution - Real Property Tax Abatement for Wharf Partners LLC

Home Browse Search

TAX ABATEMENT REPORT TO: South Bend Common Council FROM: Erik Glavich, Director, Growth and Opportunity SUBJECT: Mixed-Use Development Real Property Tax Abatement Petition for Wharf Partners LLC DATE: April 8, 2026 On April 8, 2026, a petition for tax abatement from Wharf Partners LLC was filed with the Office of the City Clerk. The petition seeks consideration for a mixed-use development real property tax abatement for property at 312-318 E. Colfax Avenue in South Bend. Pursuant to Chapter 2, Article 6, Section 2-84.9 of the Municipal Code of the City of South Bend, the petition was referred to the Department of Community Investment for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to Indiana Code 6 1.1-12.1 and all zoning requirements have been met. The Department of Community Investment has reviewed the petition, investigated the area, and makes the following report. Project Summary • Wharf Partners LLC, the petitioner, proposes to develop a mixed-use building comprising commercial space and for-sale residential condominiums. The approximately 112,000-square-foot building will include 30,200 square feet of commercial space. • The proposed development is part of the larger Cascade project and is designed to complement the existing building located at 320 E. Colfax Avenue. That building, completed by the petitioner in 2019, similarly integrates commercial and residential uses. • The new building will include between 22 and 32 for-sale condominium units. Units will consist of two-, three-, and four-bedroom layouts, ranging in size from approximately 1,550 to 3,429 square feet. • The costs for this new phase of the Cascade project are estimated to be $50,000,000. • The development will significantly enhance the walkability and vitality of the urban waterfront environment along the east bank. Employment Impact Per this petition and supporting material, it is estimated: • Upon completion of the building's commercial spaces, the petitioner estimates that fifteen (15) new full-time jobs with an estimated total annual payroll of$750,000 will be created.