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Redevelopment Commission backs term sheet to support 7th & Wabash mixed‑use project, offers developer‑backed bond access
Summary
The commission unanimously approved a term sheet Nov. 17 that allows Julian Walters' Eminent Development Corporation access to up to $3 million in a developer‑backed bond mechanism for a five‑story, mixed‑use project at 7th & Wabash featuring about 60 units and 6,000–8,000 sq ft retail.
The Michigan City Redevelopment Commission voted unanimously Nov. 17 to accept a term sheet that will allow developer Julian Walters to pursue access to a developer‑backed bond of up to $3,000,000 to support a proposed five‑story, mixed‑use development at 7th and Wabash.
Julian Walters, president of Eminent Development Corporation, told the commission the project envisions about 60 residential units and 6,000–8,000 square feet of commercial space,…
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