Architectural renderings best describe the $100 million Mishawaka mixed use development called GrandView that will quickly start taking shape on the northwest corner of Cleveland and Gumwood roads in Mishawaka.
The 46-acre property features two- and three-story multi-family residential and commercial buildings with brick facades and large windows that look out onto urban-like tree lawns and sidewalks connecting the townhomes with stores and restaurants.
Great Lakes Capital, which is based in South Bend, released the renderings on Wednesday morning and announced that ground has been broken on the much-anticipated project.
Leasing information is already available online for more than 200 residential units, which will soon be under construction on the northern-most part of the site. The first units will be ready for occupancy by spring.
Some of the first offices and retail and restaurant storefronts, too, will simultaneously be under construction on other parts of the property.
There are no concrete dates available for when one phase will start and another phase will be completed. There's no mention of precisely how many total phases the project will entail. And local shoppers and diners will have to wait a little longer for the first store and restaurant announcements.
But Ryan Rans, managing partner at Great Lakes Capital, is ready to push the “Go” button.
“You're going to see dirt flying next week,” Rans said. “It has taken some time since acquisition and zoning to get there, but the pace will now quicken. We wanted to make sure everything was set up and ready to go before we press that button.”
Rans said the residences are being built first to drive demand for other parts of the project.
Units will include full size washers and dryers, eat-in kitchens, walk-in closets, private balconies and indoor parking. They will range in price from one bedroom studios starting at $800 per month, to three-bedroom, three-bath townhomes that will cost $2,000 per month.
Combined with the Residences at Toscana Park, located across Gumwood and also owned by Great Lakes Capital, more than 300 multi-family units will be available along this corridor.
“The demand has been very robust, because there really hasn't been much new multi-family brought to the market in 10 years or so,” Rans said. “So we're starting GrandView with the traffic generator. Where does demand come from? From the supply of people who live there and spend money.”
As the residential component of the project gets under way, the rest of the GrandView site plan remains in flux and under development. Future phases will overlap as the project takes shape at what Rans calls “the corner of Main and Main.”
