(Michigan City, IN) - Construction of a 12 story luxury apartment building above the new South Shore Railroad commuter line train station in downtown Michigan City is nearly completed.
Clarence Hulse, Executive Director of the Economic Development Corporation Michigan City, said the timeline calls for construction to be completed by July 1 with tenants beginning to move in toward the end of August.
Hulse said reservations have already been made on 115 of the 220 apartments at what’s called The Franklin at the 11th St. Station. He said the hope is to have the remainder of the units filled by the end of the year.
The building will also have 5,600 square feet of retail and restaurant space on the main level and an over 500 space parking garage beside the tower for use by tenants and riders before and after stepping off the trains. Other amenities include a heated swim/spa with an adjacent outdoor movie lounge, an outdoor rooftop sky lounge providing scenic views of Lake Michigan, courtyard grilling decks, fire pits, and a dog park.
Hulse said the 300 or so people living there will provide another economic boost to the ongoing revitalization of the downtown, which has had a lot of new businesses open in the past decade.
He credited faster travel times to and from Chicago by train from the double track completed between Michigan City and Gary last year for much of the noticeable increase in money developers are making in the downtown area and elsewhere in the community. Investors are banking the 30 minutes saved on one way trips by train to each community will lead to significantly more people coming here to enjoy the city’s lakefront along with other attractions like Blue Chip Casino and nearby Indiana Dunes National Park.
Another hope is that some people will choose to live here and commute to their jobs in Chicago.
“Now, people are looking at us as a place to come and invest their dollars. I never want to underestimate or undervalue what this has meant for Michigan City,” he said.
Hulse said nearly $2 billion in capital investments were made in Michigan City over the past four years, a very sizable amount for a community with just over 30,000 residents.
“The city is really moving forward,” he said.
Monthly rent starts at about $1,500. According to the developers, Flaherty & Collins based in Indianapolis, about two-thirds of the apartments are one bedroom while 20 percent are two bedroom with the rest being a combination of three bedroom and studio units. The main level will be available for retail and other commercial establishments like a restaurant or coffee shop.
About 300 employees are expected to work at the apartment tower, which will generate over $800,000 in annual real estate taxes, officials said. Hulse said 14 additional trips to Chicago have been scheduled during the week since the double track opened.
Diana Smith-Scott, owner of Lakefront Salon & Spa at 912 Franklin St., said she believes the apartments will bring more customers downtown, which features a number of trendy restaurants and shops.
“I think it’s going to be a positive thing,” she said.
Smith-Scott has operated her business for over 30 years on Franklin St. and sees a big difference in the vitality of downtown since revitalization efforts began over a decade ago.
“It’s a lot better. There’s a lot more traffic,” she said.
Jonas Zimmerman, owner of J & K Flower Company at 906 Franklin St., said having that many new residents won’t hurt business owners but he’s not sure how much it will help them. He said it just depends on how many tenants venture out instead of just simply getting off and on the trains before heading back to Chicago.
“I’m trying to stay optimistic and, hopefully, it helps,” he said.
Michigan City resident Susan Borman said the apartments are a very nice addition to the many improvements made over the years in the community.
“I think it’s great. I think it’ll bring in more business,” she said.
