HomeMy WebLinkAbout12-15-2006 $9 million + “All American Plaza” Proposed for Downtown South Bend 04SOUTTU8�N
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Office of the Mayor
NEWS RELEASE
December 15, 2006
10:00 AM
Contact: Mikki Dobski, Director of Communications& Special Projects, 235-5855 or 876-1564
Michael Wargo,principal, Michigan Street, LLC, 323-7502
Bill Lamie, RA, Architecture Design Group, 288-6626
Jennifer Laurent, City of So. Bend Economic Development Planner, 235-9336
$9 million + "All American Plaza" Proposed for Downtown South Bend
South Bend,Indiana - Mike Wargo and Brad Toothaker, principals of Michigan Street, LLC,
presented the South Bend Redevelopment Commission finalized plans for a new mixed-use
condominium development,AllAmerican Plaza, proposed to cover half of a city block in the
heart of downtown South Bend. Partnering with the City of South Bend,the development will
incorporate a renovation of the historic American Bank& Trust Building at 101 North
Michigan Street as a signature first phase of development. The project is anticipated to bring
55,000 sq. ft. of modern retail, office and residential condominiums, off-street parking and
green space to one of South Bend's busiest intersections. Construction of the first new retail
storefront,the All-American Newsstand, is already underway and is set to open next month.
South Bend continues to grow as the regional center for business, health, education, arts and
culture. "This is another exciting project for the heart of downtown and is a wonderful
example of the direction that the City is taking in creating a thriving, new mix for our
downtown environment," said Mayor Luecke. "We are pleased to partner with Mike, Brad,
and Michigan Street, LLC and know that AllAmerican Plaza will be a perfect complement to
the array of new and expanding businesses and venues that make South Bend a great place to
work,play,visit, and live downtown."
"After decades of trying to figure out new uses and solutions to the underutilized Bank
building, it is very exciting to see this public-private partnership happen," said Todd Zeiger,
Director of the Northern Regional Office of Historic Landmarks Foundation of Indiana. "The
building anchors the central intersection of the downtown, making it a landmark in all aspects
of the word. The first floor changes have obscured the original classical beauty of the
building's design, and the demolition of the adjoining building in the 1960's left this building
stranded. It will be wonderful to have the original windows restored on the ground floor, in
the upper floors again and some new infill to unite this building with the rest of the block once
again."
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The City of South Bend Redevelopment Commission will acquire an easement on the historic
fagade and will contract with Architecture Design Group to design and direct its restoration.
The developers intend to apply for Federal Historic Preservation Tax Credits for 20% of the
balance of construction costs for Phase I, and will be able to carry over this economic benefit
to the new construction of Phase II.
"The foresight and patience of past Redevelopment Commissions in acquiring and holding the
property to the north to support the rehab of 101 has enabled this larger vision to come about,"
said Marcia Jones,president of the Redevelopment Commission. "We are pleased to be able
to accept this proposal today and look forward to partnering with this dynamic team of
developers to realize the potential of this building and prime site in downtown."
"Our city officials and the staff of the Redevelopment Commission have been wonderful to
work with throughout this venture,"Mike Wargo said. "Their enthusiasm and excitement for
the project has been apparent since we started the planning process."
"I believe that downtown South Bend is reaching a critical tipping point,"Wargo continued.
"The fact that there will be three significant developments (Game Day Condominiums, All
American Plaza and the South Bend Chocolate Cafe's expansion) occurring simultaneously,
within a one block radius of each other, is reminiscent of the growth downtown South Bend
experienced in the early 20th Century. We are excited and very proud to have the opportunity
to be part of it."
Media is invited to the American Bank Building, immediately following the South Bend
Redevelopment Commission meeting to ask questions of the developers and City of South
Bend officials.
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