SOUTH BEND - The $8 million transformation of a more than century-old building in downtown South Bend is complete. Officials cut the ribbon Tuesday on the Studebaker Lofts mixed-use development in the historic JMS Building, which includes 46 apartment units, plus retail and office space.

South Bend-based Bradley Co. says the Studebaker Lofts are first luxury apartments to be developed in the St. Joseph County city's re-emerging downtown. The building is part of the up-and-coming Main Street residential corridor, which is expected to be home to 150 high-end units within a year.

The project is a collaboration among Bradley Co., Great Lakes Capital, Centier Bank, HGR Construction and the city. Former Studebaker Corp. President John Studebaker had the eight-story building constructed in 1909 and it has been lightly used in recent years.

Last last year, South Bend Regional Chamber of Commerce President Jeff Rea mentioned the Studebaker Lofts in a Perspectives piece for Inside INdiana Business focusing on the high-density housing boom in the region.