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developed by Indianapolis-based Kite Realty Group in <br />• partnership with the University of Notre Dame. <br />Five Points Proms is the project name for a future retail <br />commercial node development in the area currently and <br />commonly known as the Five Points intersection. Uses in <br />this area could include but are not limited to general <br />commercial, office, multi-format residential, structured and <br />surface parking, and limited public and open space. This <br />project area is dependant on the realignment of the five <br />points intersection area to make available the land areas <br />necessary to create the development sites. <br />4. Triangle Residential Project or also described in the <br />Northeast Neighborhood Development Plan as the <br />Georgiana-Talbot Residential Redevelopment Area is the <br />redevelopment of a 15 acre section of the redevelopment area <br />currently and commonly referred to as the Triangle. The goal <br />of this redevelopment area is to remove all blighting and non- <br />conforming properties and land uses, and develop a new <br />mixed income neighborhood. <br />c. Goal and Objectives of Development Plan Amendment <br />• 1. Eliminate blighting, deteriorated and deteriorating areas. <br />2. Eliminate blighting, deteriorated and deteriorating <br />influences. <br />Maximize new and existing opportunities for the <br />development of affordable housing. <br />4. To benefit the public health and welfare by protecting the <br />economic value of surrounding properties. <br />To overcome existing barriers to development by creating <br />opportunities to fund the construction of basic public <br />improvements. <br />6. Create new job opportunities for the project area. <br />7. Encourage and stimulate economic development in the <br />project area. <br /> <br />Phase out incompatible structures and land uses. <br />6 <br />