City of South Bend shares plans of 'Madison Lifestyle District' with private investment of over $330M

SOUTH BEND, Ind. - The City of South Bend has its sights set on what could be the largest redevelopment project in the City’s history.

The newly- proposed “Madison Lifestyle District” would add housing, a hotel, and commercial space on a piece of property that right now is mostly parking on the north side of downtown.

The city says combined investments on this project and an ongoing expansion project on Memorial Hospital will include $24 million from city bonds, more than $11.5 million state Readi funds, and private investment funds of $334 million.

"This is a historic investment into the heart of South Bend. This will completely transform the northern part of our downtown and really create a number of good paying jobs for residents in the years to come,” said South Bend Mayor, James Mueller.

Renderings from the city show the vision of the city along with Beacon Health and Great Lakes Capital to 240 apartments, a 100 key hotel, and 40,000 square feet of commercial space that would completely transform the two blocks from the roundabout to Lasalle between Main and MLK Boulevard.

The city’s main role in the project would be constructing and managing 900 structured parking spaces two blocks South of Memorial Hospital.

They will have to knock down the NIPSCO building, but Mayor Mueller says the benefits of the project will outweigh any drawbacks.

"If we weren't able to unlock this big a project with the structured parking, it could very well remain parking lots, and I think we all agree that is not the highest and best use in this area of town,” he said.

In return, the hope is that it will bring hundreds of jobs and have a long-lasting economic impact.

Thursday morning, the South Bend Redevelopment Commission will consider adopting the agreements to make the plan official.

If approved, the project is expected to break ground in 2025.

The South Bend Common Council will also be asked to approve a tax abatement to support the project.

The $334 million of private investment includes the cost of Beacon Health’s 10 story patient tower expansion, expected to be up and running in early 2026.