6.B.(4) Staff Report former Rink Riverside site

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~ ~ (~~~ ~` ''~. ~' i Community & Economic Development ~ ~ ~i ~N= 1'200 County-City Bullding, 227 West Jefferson, Souih Bend, Indiana 46601-1830 _ Phone 574/235-9371 _ Fax 574/235-9021 To: Redevelopment Commission From: Jennifer Laurent SubjecL• Staff Report on Disposition of Property (Former Rink Riverside Site) Date: September 2. ?003 Andy Place Jr. and Andv Place Sr. of PlaceBuilders. Inc. have submitted a proposal to purchase the former Rink Riverside Printing site at Colfax and Sycamore Street i^ the East Bank area of the South Bend Central Development Arca. PlaceBuilders is a local residential development firm ~~~ith a history of successful, high quality residential subdivision. villa and townhome developments, including Ironwood Villas, Savannah Pass and Gum~~°ood Crossing. PlaceBuilders proposes to construct a multifamily urban brownstone development featuring eleven condominiums, with amenities that capture a wide audience of potential owners, a site plan that maximizes the views of the St Joseph Ricer, and a residential use and density of development that is supported by the recently approved East Bank Plan. I would like to ask them to show you all their design concepts and speak to the timeline they have in mind for construction, as ~tiell as the assistance they would seek from the Commission to facilitate the development. We intend to continue workin~~ ~~~ith PlaceBuilders and Architecture Design Group to reline the exterior materials and design as well as placement of the units to tit with the context of the site, with the goals oC integrating secure access to the riverfront walking trail. making efficient use of the small pie-shaped site, and introducing a pleasing view of the attached residential homes from across the Colfax bridge in the CBD. The property was previouslti~ offered through the public disposition process at the appraised average of $337.00. PlaceBuilders seeks a concession on land price with an offer of $1 X0,000, in order to make sales prices Ior the units more viable in the South Bend market. Staff has sound this value I~or the cleared land to be justified in the pro forma they have presented and a critically important aspect of the project. ~'e want to be able to insure the success of the project. while still making funds available to assist ~~~ith the cleanup of the riverbank and other infrastructure needs presented in tandem ~~~ith the project. Your approval is recommended. To Commission rc Place.doc What We Do Today Makes A Difference!