A proposed deal between the City of South Bend, Beacon Health System, and Great Lakes Capital is poised to unlock the largest redevelopment project in downtown South Bend and support Beacon’s transformative Patient Tower initiative.
The new Madison Lifestyle District plans include over 240 new apartment units including some designated workforce housing, a 100 key-hotel, approximately 40,000 square feet of commercial space, and more than 900 structured parking spaces on the two blocks south of Memorial Hospital.
Final plans will be dependent on approval by the Redevelopment Commission and abatement from the Common Council. The combined investments by the partners for the Madison Lifestyle District and the Memorial Hospital’s Patient Tower will total in excess of $330 million.
The series of agreements would include at least $100 million in private investment in a mixed-use two-block urban development, logistical support for the $232 million expansion of Memorial Hospital’s Patient Tower, and the construction of public parking garages. The City’s primary role will be to construct and manage the needed parking infrastructure. In 2022, the Northern Indiana Regional Development Authority committed $11.78 million of READI funds to this project, and last year the South Bend Common Council approved $24 million of redevelopment bond funds.
If approved by the South Bend Redevelopment Commission, groundbreaking is planned in 2025.
