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• .The South Bend Redevelopment Authority <br />October 17, 2007 Meeting Minutes <br />that will provide the parking for the hotel, the apartments, the retail, and for the <br />condos that rap the garage on the south side. There will be some surface parking <br />but not enough to support the density of the project, so the garage is needed. The <br />later phases will be primarily residential with town homes. Don asked Ms. Ottesen <br />to describe this phase in more detail. Ms. Ottesen-said there will be five different <br />offerings: condos over the full service hotel; condos rapping the parking garage, <br />three-story row homes, and courtyard town homes that will be south of Napoleon <br />Street. The. town homes will be two and a half story, larger residential homes. <br />There will also be a stacked flat product that is a typical condo building where <br />everyone enters off a common corridor. Mr. Alvarez asked what the projected <br />selling prices would be for the different units. Ms. Ottesen said they have not <br />released any pricing to date. They will range greatly from an affordable. first home <br />price. for the garage-wrapped condos, to the condos over the hotel that: will have <br />an excellent view. and could be rather pricey. Mr. Alvarez asked if the homes will <br />be for mixed income development and wondered who the intended buyers will be. <br />Ms. Ottesen said the. target market. is .very broad-young professionals who work. <br />downtown, alumni that come back to South Bend due to their ties with Notre <br />Dame as well as empty nesters who no longer want to maintain a yard and a large <br />home. Mr. Inks said the Eddy Street Commons Proper is all market rate <br />development, the triangle development which will be just south of that will. be 61 <br />or 62 single family homes will be mixed use in that 30% will be -set aside for low <br />to moderate income and the other 70% will be at market rate. <br />To support the development of thisproject there is a real need for infrastructure, <br />and a key component of that is the extension of Napoleon from Eddy Street. over <br />to State Road 23. The triangle development. will need all new infrastructures: the <br />existing infrastructure will be taken out and replaced, as well as some new <br />infrastructure at the south end of that project. There will need to be significant <br />improvements on Eddy, a fair dollar amount on Edison, and the rest of it is the <br />three streets in that area for Georgiana, Burns and Dewey. <br />Mr. Alvarez asked if we knew the State's time frame for widening State Road 23. <br />Mr. Inks said Mr. Gilot, from our Engineering: Department, has been pushing. the <br />State to begin this project but we don't have a-start date from them: We are going <br />to do what we need to do to make this project happen and then work with the <br />State to expedite S.R. 23. Mr. Alvarez thought the project was very good for <br />South. Bend and that it will enhance the attraction of South Bend from other parts <br />of the community and the Midwest. <br />Mr. Alvarez asked if the lease had been signed. Mr. Hill said it has not. Last <br />Friday the Redevelopment Commission approved the form of lease and scheduled <br />a public hearing that will be held on November 2, 2007.. While the lease has been <br />approved by the Commission, it will not be executed until the State Department. of <br />H:\WPDATA\A T 2 <br />U HORTY\101707.MIN.DOC <br />