Adjusting the vertical Many S'ville development plans remain in holding pattern
http://nwitimes.com/news/local/lake/article_3d66e8bb-832e-5434-85c4-17ef117adfa3.htmlInteresting article in the local rag this morning. It seems all of the development projects that were expected since 2008 are not happening anymore. The plans, ~7 mentioned in the article, have no plans to start anytime soon. They range from an assisted living facility to strip mall, restaurants to a shopping center. Multiple developers are blaming the current economic climate for the change of heart in Schererville. The consensus is that commercial financing is not available to proceed with these projects.
Sounds similar to the situation at Woodmar Mall. The only difference is that Schererville sits on two high producing commercial corridors while woodmar property is located around factories in an area that already housed an empty mall. I wonder if Boyer or VanDyke delayed the payment of their property taxes with the knowledge that no financing would be available for development anytime soon?? I am sure the Hammond Haters will just ignore this information and continue to spread lies about Markopolous and his efforts to redevelop Interstate Plaza / Woodmar Mall.
This article is proof that the development of Interstate Plaza and building of the Golden Manor did not come at a time when any other community in Lake county outside Cedar Lake could boast any development. The Cabelas moving to WCC property has helped to make this development possible. I would love to see how the Hammond Haters spin this news. Im sure they will just ignore it and continue to say Markopolous is not doing a good job. I strongly disagree with them.
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