10-04-16 Zoning and Annexation - Laserfiche WebLink

Home Browse Search

on optimizing vacant spaces and have not displaced any current residents based on the impacts of his developments. Matthews, LLC attempts to transform the downtown by increasing income diversity in the downtown. But, given the challenges of downtown South Bend, Mr. Matthews argued, attracting income diversity to the downtown has been an incredibly difficult task. Mr. Matthews concluded by discussing his site plans for 401 E. Colfax and what he hopes it will contribute to the quality of life in downtown South Bend. He also introduced Jonathan Jones to discuss further details of the project. Jonathan Jones, 2203 Basin St., Marketing Director at Matthews LLC. Mr. Jones began his presentation by asking the question, "Are we overbuilt ?" He emphatically argued, no. Downtown South Bend he argued has a workday population of 20,000 people with a residential population of only 3000 people. There's currently a major shift from suburban areas to walkable, dense, urban living among millennials and empty nesters. People are looking for an opportunity to connect in their cities. Therefore, there's a strong demand for apartment living in the downtown. In fact, mentioned Mr. Jones, Matthew's LLC most recent project, East Bank Flats, has completely sold out in its pre - construction phase without any hard marketing. Mr. Jones argued that the existing apartment stock in downtown South Bend is aging and not marketable to millennials. Further, the new developments that have come online cater to student populations near Notre Dame, not young professionals, small families or empty nesters looking for urban living opportunities. Mr. Jones went on to summarize several upcoming developments from Matthews, LLC that intend to meet these gaps in demand. He also discussed their affordability pilot program at the old Madison Center. The program aims to attract volunteer- minded individuals to the East Bank. Tenants will earn a substantial discount in their rent in exchange for the volunteer service in the immediate vicinity of the development. The development is a pilot to keep rents affordable while attracting responsible tenants to the development. Mr. Jones concluded his presentation and introduced Velvet Canada to discuss the architectural design process. Ms. Canada is head designer and project manager for Matthews, LLC. Ms. Canada began by showing images of design work from various urban, global contexts that inspired her design for the Commerce Center development. The goal, as she explained, was to break up the length of the building to appear like several different buildings in one block. Ms. Canada went on explain design details and elements of the building within the context of the neighborhood and surrounding downtown area. The development she added, would significantly increase the density in East Bank and surrounding area. The developer would like to include green spaces on the roof and shared common spaces between the PUD development and the existing Commerce Center. In regard to tax income, according to Ms. Canada, each floor is approximately $96,000 of tax revenue each year. The development at its proposed height will add approximately $1.1 million per year. Ms. Canada reintroduced Matthews, LLC's owner, David Matthews to conclude the presentation. 5