Laserfiche WebLink
CITY OF SOUTH BEND I REDEVELOPMENT COMMISSION REGULAR MEETING - June 11, 2026 <br />2. Resolution No. 3672 (Authorizing Use ofTIF to Fund Forgivable Loan <br />Beacon Heights) <br />Joseph Molnar, Deputy Director of Community Investment, presented a <br />Resolution to use River West TIF funds to establish an EDC loan for the <br />renovation of Beacon Heights Apartments, a 174-unit affordable <br />housing complex on the City's West side dating to the 1940s and in need <br />of significant upgrades. The City is partnering with L+M Development <br />Partners, an experienced national developer, which plans a $47 million <br />renovation while keeping residents in place through a phased approach. <br />The Resolution initiates a $1.25 million forgivable loan, contingent on <br />full project completion, with additional approvals required from the <br />RDC, EDC, and Common Council. <br />Sophie Cohen, Senior Associate with L+M Development Partners <br />expressed enthusiasm for investing in South Bend and the Beacon <br />Heights project. The team will use a phased renovation approach to <br />minimize disruption, starting with vacant units and relocating residents <br />as work progresses. A dedicated relocation team will support residents <br />with moving, daily needs, and on -site assistance. Units will typically be <br />completed in about 10 days (longer for ADA units), and residents will <br />return to fully renovated spaces. The plan also includes enhanced <br />security measures. L+M emphasized its experience with similar projects <br />and commitment to meeting resident needs. <br />Vice President White asked about the extent of renovations and the unit <br />mix. Ms. Cohen responded that only about 25% of units have received <br />limited interior updates, with no major structural improvements. The <br />complex consists of 174 units, including 24 three -bedroom units, <br />primarily two -bedroom units, and the remainder one -bedroom. <br />Commissioner White also asked, "Are there safety concerns or site <br />improvements to consider"? Ms. Cohen explained that traffic safety near <br />the library remains a concern, including the need for signage or <br />pedestrian access. A community garden is also proposed, in addition to <br />the nearby Unity Gardens site. <br />Commissioner Ellison asked what the current occupancy is, and how <br />renovations will be managed? Ms. Cohen responded, the occupancy is <br />approximately 93%. Renovations will begin with vacant units, then <br />transition residents in phases, allowing most to remain on -site during <br />upgrades. <br />Commissioner Shaw inquired about is this occupancy level typical, and is <br />relocating residents into completed vacant units a common approach? <br />How has the daytime (9-5) temporary relocation strategy worked? Ms. <br />Cohen responded, yes, this is a standard approach. L+M has used it <br />Page 14 <br />