A proposed four-story, 103-unit apartment building just south of the University of Notre Dame is moving forward after the Common Council approved a zoning change for the project Monday night.
The project is being developed by Holladay Properties and will be built on a vacant lot at the corner of Eddy Street and Corby Boulevard, just across from the new Trader Joe’s.
The land was zoned for single family homes but has been vacant since Indiana redesigned and widened State Route 23 to eliminate the old “Five Corners” intersection about a decade ago.
The Common Council unanimously voted to rezone the lot for mixed-use, high-density development Monday night.
Paul Phair, the vice president of Holladay Properties, said the company originally planned for a five-story, 148-unit building, but scaled back to the current plan after numerous meetings with neighbors.
It will contain 16 studios, 56 one-bedroom and 31 two-bedroom apartments. The development also includes 8,000 square feet of commercial space and 145 parking spaces — 86 in a garage.
In response to questions from council members, Phair said all units will be market rate. They’ll primarily be targeted to graduate students, young professionals and older adults affiliated with the University of Notre Dame.
Construction on the $22 to $25 million project is expected to start this summer, Phair said. Holladay Properties does not plan to seek any tax increment financing for the project but may be requesting a tax abatement.
Contact Jakob at jlazzaro@wvpe.org or follow him on Twitter at @JakobLazzaro.
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