NW Indiana: Random Development & News

Started by NextDoorNeighbor, Nov 30, 2023, 09:00 PM

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Downtown dreamin'

Plans for redevelopment call for walkable, multi-use spaces as double-track project's impact takes shape

From downtown Hammond to Michigan City, Northwest Indiana is certainly seeing a boom in development and construction.

The seeds that are being planted now could have a tremendous impact on how the Region looks in the next decade or two — especially in downtown areas of cities and towns that had been on the decline for decades.

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Funding secured for Bank Calumet building revitalization

The developer behind the revitalization of the historic Bank Calumet building in Hammond has closed on construction financing for the project. NWI Development Group is in the midst of a $28 million project to turn the nearly 100-year-old building into The Banc, a mixed-use development with apartment, retail and event space.

The developer said the financing was secured through a consortium comprised of Munster-based Peoples Bank, Horizon Bank in Michigan City, and Merrillville-based Centier Bank. The cost of the project has risen from its original $24 million estimate.

"We are thrilled to have secured the necessary construction financing for the redevelopment of the Bank Calumet building," Robert Harte, president of NWI Development Group, said in a news release. "This project not only represents a major milestone for NWI Development Group but also marks a massive step forward towards the revitalization of Hammond's urban core and sends a signal to the greater Chicagoland area that Northwest Indiana is moving forward."

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