Great Lakes Capital, Martin’s Super Markets break ground on $40 million River Point West neighborhood center in the River District

Great Lakes Capital, Martin’s Super Markets, Mayor Tim Neese, and community leaders break ground on $40 million River Point West neighborhood center in the River District

(Elkhart, Ind.) Ground was broken today for a $40 million mixed-use development in the heart of downtown Elkhart, bringing together the private, public and philanthropic sectors as part of an unprecedented partnership aimed at redeveloping the 105-acre River District.

 

Led by Great Lakes Capital, the River Point West development will consist of a new 42,000 square foot Martin’s Super Markets store, 6,000 square feet of additional ground floor retail, and 172 high-end apartments along the river.

 

The River Point West development is the third anchor project in the River District, which was commissioned by the City of Elkhart in 2017. It represents a combined $170 million in public-private investment, including Regional Cities funding, and would not have been possible without the leadership of Elkhart Mayor Tim Neese, the Elkhart Redevelopment Commission and the Elkhart Common Council.

 

“This type of development happens once in a generation, and we are proud to play a key role in downtown Elkhart’s resurgence,” said Brad Toothaker, managing partner of Great Lakes Capital. “Our neighborhood center will serve as a catalyst for growth and redevelopment that will have a ripple effect throughout the entire urban core.”

 

The new Martin’s Super Market will feature the first to offer grilled-to-order Pub Burgers in the Meat Department.  In addition, the Delicatessen will also feature a Smokehouse Signature BBQ station, the fourth store in the company to offer that customer favorite. The new store will continue to feature the company’s unique departments including Bake Shoppe, Service Meat Counter, Seafood Shoppe, Flower Market, Salad Bar and both organic and conventional fruits and vegetables in the Produce Department. Seating will be offered in the Side Door Deli , as well as a Starbucks Coffee, which will offer customers convenience and comfort for in-store menu offerings. Martin’s Groceries To Go online ordering program will be offered for both pick-up and delivery. 

 

“In 1990, we were proud to open the doors of our Jackson Street store, which at that time brought exciting and innovative features to the Elkhart downtown community,” said Amy McClellan, SVP, Martin’s Super Markets and Division VP, Retail, SpartanNash.  “Now we’re again on the threshold of a new major redevelopment project with the City of Elkhart, and we’re excited to again bring to this new store a great shopping experience our customers can count on.”

 

Demolition at the site has already begun, with construction expected to begin shortly after. The development will be completed in phases, with Martin’s and the first building of apartments expected to open spring 2020 and the balance of the development completed by spring 2021.

 

“Just two years after the City’s adoption of the River District Revitalization Plan, the River Point West Groundbreaking assures that nearly 50 percent of the River District will be under construction and complete in 2021,” Mayor Tim Neese said. “Not only has the plan included elements advocated by the public – including a local grocer – but the actions we have taken to date represent transformative progress we can all be proud of. As the City continues to enhance public infrastructure in this area and solicit additional private investment around confirmed, anchor projects, I am excited by the vibrant future that lies ahead for the City of Elkhart.”

 

About Great Lakes Capital

Great Lakes Capital is a real estate private equity firm uniquely positioned to add value to real estate investments through development, redevelopment and opportunistically investing across the real estate spectrum and throughout the capital structure. We concentrate on several core asset classes, including office, industrial, retail, medical office, multifamily and other similar conforming product types as well as mixed use projects. As a market leader in new development we actively address the needs of our tenant partners in addition to speculative development meeting needs the market has not yet reacted to. For more information, please visit: www.greatlakescapital.com

Contact:

Courtney Bearsch, City of Elkhart, (574) 294-5471 Ext. 1037
Lara Beck, (317) 727-0016

River District Zone 1 RFP Released

Click image to download file.

Click image to download file.

The City of Elkhart Redevelopment Commission has released the Request for Proposals for Zone 1 of the Elkhart River District Northwest Addition (Lots 2, 3 & 4).

 

Please click image to the right and download the RFP. It can also be accessed on the City’s website under the Redevelopment Commission page.

 

Per the timeline in the RFP, proposals are due Tuesday, October 1, 2019 at 5:00 pm, with presentations at the regularly scheduled Redevelopment Commission meeting on Tuesday, October 8, 2019 at 4:00 pm.

 

Information on the Elkhart River District can be found under Section 10 of the RFP and at www.elkhartriverdistrict.com.

 

Contact Person: 

Abby Wiles, AICP

Assistant Director

Community & Redevelopment

229 S 2nd Street

Elkhart, IN 46516

Office (574) 294-5471 X1061

abby.wiles@coei.org

River District Streetscape Project to continue along Jackson Boulevard

ELKHART (March 12, 2019) – The revitalization of the Elkhart River District will continue in 2019 with additional streetscape work along Jackson Boulevard. 

The extension of the Jackson Boulevard streetscape will mirror the work already completed to the west, including a new divided boulevard, on-street parallel parking, ADA compliant sidewalks, landscaping, street lights, as well as new and buried utilities.  

To accommodate these improvements, Jackson Boulevard, from Elkhart Avenue to Johnson Street is scheduled to be closed beginning Monday, March 18. This section is anticipated to reopen July 1. Motorists will be detoured around the closure via Johnson Street, Elkhart Avenue, and Junior Achievement Drive. Businesses in the area will remain open, and additional detour signs will be posted to help patrons access these establishments.    

Mayor Tim Neese’s intent of the River District Revitalization Project is to develop a vibrant urban space that complements existing Main Street assets and creates a destination where people want to live. The plan calls for the development of 1000+ housing units in the River District and surrounding area to meet current market demand. These additional units are supported by a housing market study completed by the renowned Zimmerman Volk and Associates. The streetscape project will enhance new, exciting investments and private development taking place in the area, including the Elkhart Health and Aquatics Center, Stonewater at the Riverwalk, and the mixed-use neighborhood center being developed by Great Lakes Capital, including a new Martin's Supermarket as their primary retail tenant. 

The transformation of the Elkhart River District will continue later this year with streetscape projects along Junior Achievement Drive and Lexington Avenue.

 

For more information, visit www.elkhartriverdistrict.com.

Mixed-used neighborhood center becomes third anchor of Elkhart’s expanding River District

ELKHART (February 21, 2019) – The third and final anchor project spurring Elkhart’s River District revitalization has taken a major step forward.

 The Elkhart City Council has approved Mayor Tim Neese’s request for an economic development loan to support the $34 million mixed-used neighborhood center, which will transform the existing Easy Shopping Center South. Developer Great Lakes Capital has proposed to repurpose the site with a new Martin’s Supermarket complemented by 154 residential units that will connect Jackson Boulevard to the Elkhart River.

 “The foundation of the River District Revitalization Plan outlines three anchor projects, which include the Elkhart Health and Aquatics Center, the Flaherty & Collins housing development, and the Great Lakes Capital project,” Neese said. “Combined, these projects represent $135 million in total investment and help to create the type of urban, walkable environment needed to grow and sustain our population.”

 To facilitate the revitalization of this site, councilmembers approved two separate loans, totaling just over $8 million. This includes public financing of approximately $4.6 million, which will be repaid at a three percent interest rate using solely the property tax revenues generated by the new development. The City will also act as a local investor, contributing an approximately $3.8 million direct loan, which will be repaid by the developer at a four percent interest rate.

 Construction is anticipated to occur in two to three phases and take approximately 18 months to complete. The first phase, beginning this spring, will allow Martin’s Super Market to relocate closer to Jackson Boulevard in a new building with a modern store format, similar to its other successful stores.

 “During the initial planning process, several things became clear,” Neese said. “Specifically, the public wanted to maintain a local grocer downtown. More generally, they wanted to see more than plans; they wanted to see results. To have all three projects confirmed and under construction only two years after the River District Revitalization Plan was formally adopted by the City is progress we can all be proud of.”

 The 154 residential units will be completed in two phases, following the completion of the super market. These units will join the Flaherty & Collins development as one of only two large scale market rate apartment investments in the City’s downtown in nearly three decades.

 The complex will offer a variety of units from one bedroom studios to two bedroom apartments. Units will range from 700 to 1,500 square feet. Rental rates will range from $900 to $2,000 per month, with the average unit being 830 square feet renting for $1,080 per month.

 Mayor Tim Neese’s vision of the River District Revitalization Project is to develop a vibrant urban space that complements existing Main Street assets and creates a destination where people want to live. The plan calls for the development of 1000+ housing units in the River District and surrounding downtown area to meet current market potential. These additional units are supported by a housing market study completed by the renowned Zimmerman Volk and Associates.

For more information, visit www.elkhartriverdistrict.com.

 


Note to the press: Attached and below is an up-to-date rendering of the proposed town green, framed by the new mixed-used neighborhood center.

All streets now open in downtown Elkhart’s River District expansion

ELKHART (December 7, 2018) – Mayor Tim Neese announced today that all streets are now open to vehicle traffic in Elkhart’s River District. This includes arterial streets such as Jackson Boulevard and Elkhart Avenue, as well as secondary streets.

With road construction complete for 2018, crews are now focused on the installation of additional lighting along Jackson Boulevard. Crews will also be working on sidewalks, brick pavers, and adding other landscaping elements to the trees that were planted earlier this year. Other winter work will include utility connections to the Elkhart Health and Aquatics center and installation of underground facilities for Indiana Michigan Power and Frontier Communications. 

As Street Department crews and residents adjust to the reconfiguration of Jackson Boulevard, on-street parking is currently limited to the hours of 6:00 a.m. to midnight. 

The transformation of the Elkhart River District will continue in 2019. Residents should anticipate reconstruction of the remaining section of Jackson Boulevard, from Junior Achievement Drive to Prairie/Johnson Street starting in March. Streetscape projects along Junior Achievement Drive and Lexington Avenue will also be completed in 2019.

Mayor Tim Neese’s vision of the River District Revitalization Project is to develop a vibrant urban space that complements existing Main Street assets and creates a destination where people want to live. The plan calls for the development of 1000+ housing units in downtown Elkhart and the surrounding area to meet current market demand. These additional units are supported by a housing market study completed by the renowned Zimmerman Volk and Associates. The streetscape project will enhance new, exciting investments and private development already taking place in the area, including the Elkhart Health and Aquatics center and Stonewater at the Riverwalk. 

For more information, visit www.elkhartriverdistrict.com.

>>Read full Elkhart Truth article.