Holladay Properties Plans May Groundbreaking for The Promenade at Founders SquarePosted:Mar 15th, 2017 11:33 am
Holladay Properties is pleased to announce the scheduled groundbreaking for The Promenade at Founders Square, a new $40 Million mixed use development, and the largest single investment in Holladay's 65+ year history.
The Promenade at Founders Square accelerates the City of Portage vision of a new downtown district. This vision is already well on its way, with recent public investments in the popular Founders Square Park, new Central Avenue Fire Station and Police Station and an outdoor entertainment pavilion adjacent to Founders Square.
Groundbreaking for the initial five buildings at the Promenade are anticipated to occur Mid-April 2017, depending on the weather. The initial buildings, which will frame Founders Square Park, offer both residential and ground floor commercial space with sidewalk pedestrian access. The project utilizes innovative building materials to create an historic downtown feel consistent with Village Plans for its downtown. Holladay has been working with the City of Portage and surrounding property owners to plan this walk-able urban community since 2014.
"Holladay is ecstatic to be moving forward with this project" according to Drew Mitchell, Vice President of Development and Project Manager for the development. "Our hat goes off to the City for having the bold vision, and for steadfastly working with Holladay to bring about this exciting development. The City Council, Mayor's office, Redevelopment Commission, and City Planning Department have all provided input, and we believe our plan will not only be embraced by the community, but also act as a catalyst for new development in Portage's downtown."
In addition to announcing the groundbreaking, Holladay is releasing the final design of The Promenade at Founders Square, as depicted in the artist rendering looking northwest from Founders Square Park. This urban lifestyle is currently in high demand by both the millennial and empty nester demographic groups. Businesses interested in locating to the Promenade will have ground floor commercial space opportunities for office, retail, and restaurant space. New residents and patrons of downtown businesses will have convenient pedestrian access to the public amenities available at Founders Square Park and the entertainment pavilion.
Holladay Properties provides development, leasing and property management services for the Promenade at Founders Square which is owned by an investment group led by the Portage, Indiana office of Holladay. For Retail leasing information please contact Michael O'Connor of Holladay Properties at 219-764-3104. If you are interested in renting one of our Luxury Apartment Homes please contact Kyle Yates at 219-615-7481.