Chase Tower Developer Working on New TenantPosted: Updated:
The New York-based owner of South Bend's tallest building says a decision on a new main tenant could be reached within a month. The South Bend Tribune reports New York-based Washington Square Realty has indicated it is looking to land a brand-name hotel for the 25-story Chase Tower. The company has asked those currently located in the 1970s-era building to move out within a month, citing damage from a water leak.
The building has been plagued by issues stemming from outdated infrastructure, including the elevator system. The publication reports Washington Square Realty was planning to invest nearly $6 million into improvements over two-years.
The building is at less than half-occupancy at the moment. It includes two empty restaurants and a hotel that has been vacated since June.
A company representative says "major construction" in the tower could begin in the spring.
Source: The South Bend Tribune