The Indiana Economic Development Corp. has approved Regional Cities Initiative funding for three more projects in the north central Indiana region. The state says the projects will promote STEM programming, increase housing options and support the revitalization of historic buildings.
The state has awarded $5.3 million to The Mill at Ironworks Plaza project in downtown Mishawaka. The project, which will cost more than $41 million to complete, includes 223 luxury apartments and 16,500 square feet of retail and restaurant space. Set in the heart of downtown Mishawaka on 3.8 acres near the Beutter Park Riverfront, the project is estimated to generate over a half-million in new real estate taxes to the community each year. The Mill at Ironworks Plaza sets a tone for downtown Mishawaka, creating density, serving as an amenity and increasing social connectivity by creating a centrally-located space for residents and visitors to live, shop, work and play in one of north central Indiana’s urban cores.
“We believe The Mill at Ironworks Plaza will not only add quality housing, but will also create new tax revenues for the city, as well as roughly 375 jobs through construction, retail tenants and the property staff,” said Brian Prince, the lead project developer with Indianapolis-based Flaherty & Collins Properties. “The development creates a destination where people want to live, work and play, helping attract employers and retain employees in Mishawaka.”
The IEDC has also approved nearly $5 million for the Commerce Center mixed-use development in downtown South Bend. The nearly $50 million development will feature more than 200 residential units, and a full-service grocery store and pharmacy. It will be located on part of a 100-year-old complex that formerly served as a power plant.
The ETHOS Science Center has also received more than $530,000 to redevelop a vacant building in Elkhart that will be used to provide STEM programming for students and teachers. ETHOS will relocate to the building once the project, expected to cost a total of $3.6 million, is complete. The organization, which specializes in K-12 robotics programming, has also received funding from the Community Foundation of Elkhart County for the project.