The South Bend Redevelopment Commission Thursday will consider requests to give more funding for two projects, one building affordable housing and the other planning luxury townhomes, because both have had trouble getting off the ground.
First, the city will ask the commission to give a $1 million more to a project led by former Notre Dame women’s basketball and WNBA player Devereaux Peters. She’s been working under an agreement with the commission to develop a 60-unit apartment building on the former Fat Daddy’s block at Monroe and Michigan streets. About three-fourths of the units would be rented to low-income tenants.
The commission would increase its funding from $2.3 million to $3.3 million because Peters has encountered unforeseen challenges.
The city also will seek approval to give $1.25 million, up from $500,000 originally committed, to developer James Sieradski’s River Walk LLC. He plans 13 luxury townhomes on Northside Boulevard near Howard Park, across the street from the riverbank. Traces of arsenic and lead in the soil, WNDU reported last year, have increased Sieradski’s development costs.
In exchange for the added funding, the commission would require both developers to invest four million dollars more than they initially agreed.
