New 5-story, 441-unit apartment buildings planned near Memorial Stadium

A Chicago-based developer plans to raze some single- and multi-family houses near Memorial Stadium to make way for two five-story buildings with 441 apartments.

Core Spaces plans to build the structures on 5.7-acres about two blocks west of the stadium. The property is bordered to the north and south by East 17th and East 19th streets and to the west and east by North Washington and North Lincoln streets.

The developer expects the 441 apartments to have 1,143 bedrooms. The project would include studios to five-bedroom apartments, along with 651 on-site parking spaces in a garage attached to the southern building. Tenants will enter the garage from Washington Street. The two buildings would be connected by a breezeway.

Sustainable development, affordable housing incentives

The city allowed Core Spaces to increase the building footprint because of sustainable development and affordable housing incentives. The developer said it would achieve the U.S. Green Building Council’s silver Leadership in Energy and Environmental Design standard.

Core Spaces said in city filings that to meet the affordable housing incentive, it would pay the city $20,000 each for 15% of the total number of bedrooms. That works out to be $3.44 million. The city’s housing trust fund at the end of last year contained $2.6 million, according to the state’s government finance portal.

Local planners had recommended in April that the Bloomington Plan Commission approve the project and the use of incentives.

“The redevelopment of this property will allow an opportunity to bring a property that is currently not in compliance with many current standards to come into compliance for a large area,” the planners said in city filings. “This project will also add dwelling units to the City and result in an increase in the City’s ability to provide affordable housing through the contribution to the Affordable Housing Fund.”

A planner with the city of Bloomington said this week that demolition permits have been issued for all existing structures and that the city may soon issue a grading permit. Ownership of the properties has not yet changed, according to county records.

Core Spaces did not reply to an email Friday, but a spokeswoman told the plan commission in April that demolition is expected to begin in the fourth quarter, with project completion planned for 2027. The firm is collaborating on the project with Minneapolis-based design firm DLR Group.

181 units: Another apartment building planned near IU campus

Core Spaces also is the developer behind the seven-story, 181-unit building that is under construction at 2038 N. Walnut St., the location that formerly housed the Great Wall Chinese restaurant.

Boris Ladwig can be reached at bladwig@heraldt.com.

This article originally appeared on The Herald-Times: New 5-story, 441-unit apartment buildings planned near Memorial Stadium