Studebaker Project Selected For National Award

Posted: Updated:
(Rendering of Renaissance District Provided by RDistrict One LLC) (Rendering of Renaissance District Provided by RDistrict One LLC)
SOUTH BEND -

Two investors in the project to revamp the former Studebaker Corp. assembly plant in South Bend have been chosen for a national award. National Trust Community Investment Corp. and Urban Research Park CDE LLC are being recognized for their investment by San Francisco-based accounting firm Novogradac & Co. LLP.

The two companies will receive the Novogradac Journal of Tax Credits 2016 Community Development QLICIs of the Year Award. The award is given to community development entities "for making exceptional qualified low-income community investments (QLICIs) in the past year."

NTCIC and Urban Research Park provided $18.6 million in New Markets Tax Credit allocation for the Studebaker project, which broke ground in May. At that time, officials said they expected the first phase of the project to be complete by the end of this year. 

The project will transform the former Studebaker plant into a mixed-use innovation center as part of the city's Renaissance District. It is expected to create more than 400 permanent jobs.

The companies will receive the award at the Novogradac New Markets Tax Conference in New Orleans on October 20.

  • Perspectives

    • Creating the Work Spaces that Draw Talent to Indianapolis

      The future economy will be driven by data, powered by robotics and heavily invested in the building blocks of nature – biotech and genetic engineering. That’s true of the economy nationwide, and it’s especially true here in Indianapolis, where dominant pharmaceutical and biotech companies are putting us at the cutting edge of the science-based economy. It all sounds larger than life. But the facilities that will house these industries will always be...

    More

Events



  • Most Popular Stories

    • Money magazine judges Fishers as 3rd best place to live in the U.S.

      Fishers Makes Top 10 List of 'Best Places to Live'

      Three communities in Indiana made the top 100 list of best places to live in the country, but only one made the top 10. Fishers was judged by Money magazine as the third best place to live in the United States, behind Clarksville, Tennessee and Round Rock, Texas.

    • Elizabeth Head is the head of school at ISI.

      International School Launches Capital Campaign

      The International School of Indiana has publicly launched a capital campaign to establish a unified campus in Indianapolis. As part of the ONE ISI campaign, the school is looking to raise $6.5 million to build a new school building for pre-elementary and elementary students at the site of its middle and high schools. The public launch follows a 10-month silent phase of the campaign, during which ISI raised $5 million from more than two dozen donors. Currently, ISI's operations are...

    • School District Raises Questions About ILEARN

      Like all schools in Indiana, we were disheartened at the ILEARN results for school year 2018. We would like to raise several questions concerning this test as it relates to college and career readiness for our students. The annual Indiana Statewide Assessment (this year’s ILEARN) has been developed to evaluate college and career readiness at all levels tested. We are very troubled by our lack of understanding of what indicators in the test evaluate...

    • (image courtesy of BHI Senior Living)

      Officials to Break Ground on Senior Community

      An Indianapolis-based developer of senior living communities is breaking ground Wednesday on a $20 million expansion project of its Hoosier Village. BHI Senior Living executives, along with Zionsville city leaders, will toss a ceremonial shovel of dirt on the addition of the existing 300-acre campus.

    • Photo courtesy of Bristol Parks

      Startup Plans to Add 250 Jobs By 2021

      A metal forming startup is seeking to use a facility in Bristol that has been empty since 2017 for a major manufacturing operation. The Elkhart Truth reports Brinco will invest $52 million in the project and add 250 jobs.