A proposed agreement between the City of South Bend, Beacon Health System and Great Lakes Capital will bring about the largest redevelopment project in downtown South Bend and is poised to support Beacon's innovative patient tower initiative. There is.
Plans for the new Madison Lifestyle District include more than 240 new apartment units, including designated workforce housing, 100 major hotels, approximately 40,000 square feet of commercial space, and two blocks south of Memorial Hospital. Includes over 900 structured parking spaces.
The final plan is subject to approval by the Redevelopment Commission and approval from the Common Council. Combined, his partners' investments in the Madison Lifestyle District and Memorial Hospital Patient Tower will bring his total to more than $330 million.
The series of agreements includes at least $100 million in private investment in a mixed-use, two-block urban development, logistical support for a $232 million expansion of Memorial Hospital's patient tower, and construction of a public parking garage. The city's primary role is to build and manage the necessary parking infrastructure. In 2022, the Northern Indiana Regional Development Authority committed $11.78 million in READI funding to the project, and last year the South Bend Common Council approved $24 million in redevelopment bond funds.
If approved by the South Bend Redevelopment Commission, groundbreaking is scheduled for 2025.
