A historic site in downtown South Bend could soon get new life. The South Bend Tribune reports a Wisconsin-based company has submitted a bid to purchase the block that formerly housed Fat Daddy’s Outlet Store, which the South Bend Redevelopment Commission recently put up for sale.
The commission made the site available for a minimum price of $45,000, which was the amount of the bid by Commonwealth Development Corp., according to the publication. The company says it plans to redevelop the property into affordable senior housing.
The commission is offering up to $1.7 million in incentives for the project, with the provision that the developer must "stabilize, brace, and repair the east and north historic facades; demolish the current structures behind them; and then incorporate these two facades" into the new construction.
Anne McKinley, assistance vice president of development with Commonwealth, tells the Tribune the proposed project would create 60 apartment units. The buildings behind the facades would be demolished with a new, four-story structure being built.
If the bid is accepted by the commission, the publication says Commonwealth plans to apply for tax credit funding through the Indiana Housing and Community Development Authority. If funding is awarded, construction could begin next summer.