City of South Bend officials say a Carmel developer’s plans to build luxury riverfront apartments could transform an underutilized part of the city.
J.C. Hart Company plans to spend at least $61.5 million to build two four-story buildings containing 291 apartments and a parking garage, on the south part of the Crowe campus on Jefferson Boulevard. Crowe LLP, an accounting firm, will remain in the building closest to Jefferson.
The agreement, approved by the redevelopment commission Thursday, calls for the city to issue $14.8 million in bonds toward the construction. Interest will drive that debt up to about $30 million over 20 years…