Developer reports more than $20 million invested at Concord Mall, outlines tenant and job prospects

Good afternoon, commission. Mike Huber, director of development services for Elkhart City, and Jeff Martin, representing Industrial Commercial Properties LLC, gave the Redevelopment Commission a progress report on the Concord Mall redevelopment project, saying the site has been substantially gutted and repurposed for industrial and office tenants and that private investment to date exceeds $20 million.

The presentation matters because the project converts large, vacant retail space into a mixed business park and could create new local jobs while relying on city incentives tied to compliance reporting. City staff said developers will submit CF1 compliance documents tied to the tax abatement and other incentives, with initial reports due May 15.

Jeff Martin described the construction work completed since late 2023, including asbestos remediation, demolition of interior retail corridors and installation of new sprinklers and lighting. "We started construction efforts really back in late fall of 'twenty 3," Martin said, describing the demolition and gutting that has made the interior suitable for industrial tenants. He added that the team repainted structural surfaces, installed new sprinkler systems and is fitting tenant spaces as leases are signed.

Martin identified two anchor tenants already operating in the converted space: Sierra Forest Products Group and Mox, a warehouse/distribution operator. He said tenant-supplied employment numbers—"the 16 and the 42 were numbers that we actually got from them last week"—will need city verification. Martin also said the former JCPenney building is a promising prospect for a headquarters user that could add about 40 to 60 jobs if a lease is completed.

Mike Huber summarized the city’s financial participation and reporting requirements. He said the city's total investment in the project is $5,000,000, including a tax abatement; a $1,000,000 forgivable loan from EDIT; and a $2,000,000 lease of parking area to access $2,000,000 of TIF tied to the city's portion of the investment. Huber said the developer must submit CF1 compliance documents, including job numbers and wage information identified in their SB 1, and that those documents are due May 15.

Martin also described site layout changes intended to support industrial operations: demolition of a 40,000-square-foot connector; creation of a new loading area; reconfigured circulation to better handle truck traffic; and purchase of an adjacent roughly 3-acre parcel formerly owned by AMC to square off developable land. He said the redevelopment leaves approximately 60,000 square feet still available to lease and noted plans for peripheral multifamily or commercial development once daytime population at the site increases.

City staff said more landscaping and perimeter improvements are planned to soften parking areas and make the site more attractive for long-term tenants. Martin thanked the commission for its support and said the developer will return with further updates as new leases are signed and construction phases finish.

The commission was told the city will review the developer's CF1 package in the spring; staff said they will report back after those compliance documents arrive.

The commission did not take formal action on the presentation; staff said a further update will be provided when additional leases or compliance documents are received.