The company celebrated the groundbreaking of The Monreaux, a 57-unit mixed-use, mixed-income housing development in downtown South Bend on March 13.
The project will provide a combination of affordable and market-rate apartments, live-work units for entrepreneurs and first-floor commercial space designed to activate the neighborhood and expand access to quality housing. Planned feature include a fitness center, bicycle parking area, community meeting room, business center and outdoor community patio with gathering spaces, grills and a pergola.
It will also integrate supportive programming and services through its CORES partner, including:
- online classes in financial literacy, resume building and nutrition;
- assistance applying for benefits such as Social Security, SNAP and rental assistance;
- credit-building opportunities through rent payment reporting;
- community programming, including book clubs and game nights; and
- access to a mobile food pantry in partnership with Clay United Methodist Church.
The development is being led by Devereaux Peters, a retired WNBA player and Notre Dame alumna who transitioned from the basketball court to community development. IBA-members 1st Source Bank, South Bend; and Merchants Bank, Carmel; are supporting the project, with a combination of construction loans and low-income housing tax credit (LIHTC) equity investment.
Community leaders and local dignitaries were on-hand for the event, including U.S. Rep. Rudy Yakym, R-Ind.; Mayor James Mueller, D-South Bend; and Alan Rakowsky of the Indiana Housing and Community Development Authority.
