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Old 09-20-2022, 01:34 PM
 
549 posts, read 401,128 times
Reputation: 836

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$240 million 12-story mixed-use development. Boutique hotels, 150 condos, 12 duplexes, 30,000 sq. ft. of retail and an urgent care clinic is breaking ground this fall at the former News Dispatch and police station sites. Luckily the previous design was a placeholder.




https://hometownnewsnow.com/local-news/653590

The article mentions another 7-story mid-rise being built at 8th & Michigan. Michigan city is finally experiencing massive investment. There's so much potential to make it a regional giant on the lakefront with the great urban bones and multiple rail connectivity to Chicago.
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Old 10-15-2022, 02:07 PM
 
46 posts, read 26,586 times
Reputation: 132
I have long been interested in investing in Michigan City.. it is difficult to discern recent property value increases with developments in Michigan City (double track) and property values in general everywhere. Obviously it was/is blighted in parts but I have never seen a place with more cards stacked in the deck for it than against it in my lifetime. With the plant coming down, coal ash being remediated in Pines (I think it is mostly remediated?), etc. you can make a lot of money but not without risk. If an announcement came that the ISP was being shut down and sold it would probably be game over - that, unfortunately, is still a drag on the area. If you can be long, hold and rent it is a great move IMO but you have to be able to make that work and I am not in that position.
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Old 08-12-2023, 03:54 PM
Status: "Your weak ass arguments are no match for me." (set 5 days ago)
 
Location: 9764 Jeopardy Lane
720 posts, read 340,122 times
Reputation: 755
https://indianacapitalchronicle.com/...now-tops-1-2b/

Man, if I had money I would be investing in Michigan City, IN. I was there the other day and the double track is already in place and house prices have quadrupled in the past 3 years.
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Old 08-12-2023, 07:48 PM
 
Location: Boilermaker Territory
26,400 posts, read 46,377,089 times
Reputation: 19524
Quote:
Originally Posted by LeisureSLarry View Post
https://indianacapitalchronicle.com/...now-tops-1-2b/

Man, if I had money I would be investing in Michigan City, IN. I was there the other day and the double track is already in place and house prices have quadrupled in the past 3 years.
Also, the closing of the power plant in 2028 will further help redevelopment in Michigan City, as its current location is terrible for the city as a whole.
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Old 08-23-2023, 02:44 PM
 
549 posts, read 401,128 times
Reputation: 836
Quote:
Originally Posted by LeisureSLarry View Post
https://indianacapitalchronicle.com/...now-tops-1-2b/

Man, if I had money I would be investing in Michigan City, IN. I was there the other day and the double track is already in place and house prices have quadrupled in the past 3 years.
There is a ton of projects in the works. Hopefully within 5 years Michigan City becomes a proper urban lakefront destination.

Breaking ground in September. $100 million train station and 12 story apartment tower. I believe there will be 229 units.



Quote:
Originally Posted by pulaskicountyindiana View Post
I have long been interested in investing in Michigan City.. it is difficult to discern recent property value increases with developments in Michigan City (double track) and property values in general everywhere. Obviously it was/is blighted in parts but I have never seen a place with more cards stacked in the deck for it than against it in my lifetime. With the plant coming down, coal ash being remediated in Pines (I think it is mostly remediated?), etc. you can make a lot of money but not without risk. If an announcement came that the ISP was being shut down and sold it would probably be game over - that, unfortunately, is still a drag on the area. If you can be long, hold and rent it is a great move IMO but you have to be able to make that work and I am not in that position.
Funny enough they announced that the Indiana State Prison is closing and will be demolished for a new $2.2 billion prison in Westville that will combine institutions. That area will be prime land for mixed-use development being that close to the Lighthouse Mall and the coming TOD projects. There's really nothing stopping an all-out barrage of redevelopment now. With both Nipsco and the prison gone plus a plan in place to transform Marquette Mall they could turn that place into a real gem.

https://www.wndu.com/2023/08/04/indi...an-city-close/
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Old 08-24-2023, 06:37 AM
 
2,155 posts, read 5,468,757 times
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Quote:
Originally Posted by IronWright View Post
There is a ton of projects in the works. Hopefully within 5 years Michigan City becomes a proper urban lakefront destination.

Breaking ground in September. $100 million train station and 12 story apartment tower. I believe there will be 229 units.





Funny enough they announced that the Indiana State Prison is closing and will be demolished for a new $2.2 billion prison in Westville that will combine institutions. That area will be prime land for mixed-use development being that close to the Lighthouse Mall and the coming TOD projects. There's really nothing stopping an all-out barrage of redevelopment now. With both Nipsco and the prison gone plus a plan in place to transform Marquette Mall they could turn that place into a real gem.

https://www.wndu.com/2023/08/04/indi...an-city-close/
Michigan City city is coming up again and it is great to see!
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Old 08-24-2023, 10:51 AM
 
549 posts, read 401,128 times
Reputation: 836
Quote:
Originally Posted by Northwest Indiana View Post
Michigan City city is coming up again and it is great to see!
Yes, it is great to see Michigan City finally getting some things done. I can remember multiple high-rise proposals from the early 2,000's that all fell through in the '08 recession. The Redevelopment Commission has been struggling for years to get shovels in dirt on anything significant. That train station and apartment tower should spur plenty of further development. It's exciting to think how widespread the transformation could be. The fundamentals are there to create a lakefront paradise so-to-speak.


This project below is supposed to break ground in October/November according to statements made by the city planner. Allegedly they have secured financing and have sent bids out.

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Old 11-04-2023, 04:43 PM
 
1 posts, read 312 times
Reputation: 10
Looking to move to Northwest IN from Chicago and Michigan City is one of the places that I'm curious about. What are the better neighborhoods to move to? I have a family with one in grammar and the other in Highschool. Any guidance on where to move for families with a limited budget? I'm trying to go no higher than 200k. Is this reasonable or am I just dreaming?
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Old Today, 06:15 AM
Status: "Your weak ass arguments are no match for me." (set 5 days ago)
 
Location: 9764 Jeopardy Lane
720 posts, read 340,122 times
Reputation: 755
Sounds like they finally broke ground on the apartment highrise with retail.

https://news.yahoo.com/ground-broken...090805572.html

I also drove past the Westville Penitentiary and they started construction on the new part to replace Indiana State Prison it seems - saw a crane and come concrete walls.

Sounds like it will be done about 2027.

Also, just a reminder, the cooling tower and plant are slated to come down next year.

If you are speculative real estate investor I have never seen a place more primed for investment in my lifetime.

Last edited by LeisureSLarry; Today at 07:45 AM..
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