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Old 02-01-2016, 05:54 AM
 
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I am starting a thread that will strictly focus on the development of this project. The latest news on this mixed use development (which I believe is the first of its kind in NWI) was regarding the RDA approving funding for the 45th St/Calumet Ave extension and underpasses.

RDA approves funding for Munster project

As far as commitments to the project, SpringHill Suites has began the preparation for construction at the site. I do also know that a grocery tenant is being actively recruited. Hopefully it would be a Mariano's!

I have uploaded some information about the project, courtesy from the broker website. Here is a link to the page with the same information as well:

Metro CRE - Centennial Village
Attached Thumbnails
Centennial Village (Munster, IN)-munster-centennial-village-small-shop_page_1.jpg   Centennial Village (Munster, IN)-munster-centennial-village-small-shop_page_2.jpg   Centennial Village (Munster, IN)-munster-centennial-village-small-shop_page_3.jpg   Centennial Village (Munster, IN)-munster-centennial-village-small-shop_page_4.jpg  
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Old 02-24-2016, 05:57 AM
 
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Thumbs up Update

They are doing grading of the land and as they have cleared out all of the vegetation, you get a pretty nice view of Centennial Park while driving south on Calumet (north of 45th). Obviously, this view will be gone as construction continues, but it does look nice and it is awesome that this project in its entirety is finally coming together!

Hotel, retail project underway in Munster
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Old 02-25-2016, 09:22 AM
 
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Seems weird that they are building a hotel there. What are they looking for hospital tourism? Just seems redundant with the new hotels on 30/41 where their parking lots are 50% filled almost everyday.
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Old 02-25-2016, 05:13 PM
 
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Originally Posted by cobra86 View Post
Seems weird that they are building a hotel there. What are they looking for hospital tourism? Just seems redundant with the new hotels on 30/41 where their parking lots are 50% filled almost everyday.
The Hampton Inn hotel in Munster is usually packed not only with regular out-of-towners but also by folks coming to Community hospital for procedures and rehab whose families from out of town stay in the hotel. They are also opening a Homewood Suites hotel directly southwest. There is clearly demand in the area for hotels. The new Springhill Suites hotel that will be in Centennial Village will also serve the same purpose for the Franciscan Hospital across the street that just underwent a huge expansion to bring a full-service emergency room and that is currently undergoing more multi-million dollar expansions of patient rooms, a new medical office building, and renovations of the current structure. Also, it is not uncommon to have hotels near or within the property of upscale mixed-use centers and malls (see Oak Brook, Old Orchard, Fashion Mall at Keystone).
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Old 02-26-2016, 08:21 AM
 
Location: Valparaiso, IN
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Originally Posted by Northwest Indiana View Post
The Hampton Inn hotel in Munster is usually packed not only with regular out-of-towners but also by folks coming to Community hospital for procedures and rehab whose families from out of town stay in the hotel. They are also opening a Homewood Suites hotel directly southwest. There is clearly demand in the area for hotels. The new Springhill Suites hotel that will be in Centennial Village will also serve the same purpose for the Franciscan Hospital across the street that just underwent a huge expansion to bring a full-service emergency room and that is currently undergoing more multi-million dollar expansions of patient rooms, a new medical office building, and renovations of the current structure. Also, it is not uncommon to have hotels near or within the property of upscale mixed-use centers and malls (see Oak Brook, Old Orchard, Fashion Mall at Keystone).

I definitely think with the 2 hospitals and procedures happening that hotels are viable in the area.


Not to mention that they would also capitalize on Dark Lord Day.
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Old 02-26-2016, 07:07 PM
 
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Originally Posted by iidreamtheaterii View Post
I definitely think with the 2 hospitals and procedures happening that hotels are viable in the area.


Not to mention that they would also capitalize on Dark Lord Day.
I cannot believe that I forgot that. That will be HUGE for the hotel.
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Old 05-05-2016, 10:46 PM
 
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Thumbs up Update

Here is another article detailing the progress of Centennial Village and what is to be expected.

Centennial Village to be a Munster destination

This is really going to be one of the first modern TRUE mixed-use projects in NWI of this scale. I cannot wait until they start getting retail tenants lined up! I wonder if the broker will published a list of proposed tenants or those whom have signed letters of intent?
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Old 06-07-2016, 07:07 PM
 
Location: The Region Yo
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Hopefully the traffic patterns will flow better than the sh*t show that Highland has invited into their community. Very exciting, especially considering the eventual SS expansion.
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Old 06-17-2016, 08:00 PM
 
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Thumbs up First Confirmed Tenants (and my speculations)!

So, not necessarily "mind blowing" tenants thus far but not bad either! According to this graphic, confirmed tenants are McAlister's Deli and Outback Steakhouse. Of course, Springhill Suites was already announced. There is a space for "Asian Cuisine" and I hope it is a decent non-buffet type place. P.F. Changs would be too big for that space, but there are a few other buildings where one would fit. The grocery area has been split into two sections - grocery and fitness club. I am thinking maybe Mariano's and L.A. Fitness? It would be nice if Trader Joe's found a way in there but their stores are not usually up to 30k square feet. What I really am anticipating is the tenant for "N" as well as J, K, and the identical buildings across from it...hopefully a tenant like Von Maur would come! I think it is feasible...those spaces I listed is where I think the real game changers will be...thoughts on all of this???

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Old 06-18-2016, 09:46 PM
 
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I think this development should really take advantage of being right of Centennial Park and the synergy you can create between the two.


- Provide several good dining opportunities with large outdoor patios in low traffic areas so you can walk over/bike over from the park to eat or go for a walk after dinner. Or just enjoy quiet outdoor dining in general. Lack of this in NWI in general IMO.


- There should be a place you can take kids for ice cream and some family-friendly dining options. Throw in something like a Marbles the Brain Store. A Gymboree (we already have a Carters).


- Entice in a nice spa, hair salon, good nail place and Sephora (BIG win if you can get them). Add in something like Pandora which is more of an experience than just typical jewelry retailer (similar to Sephora).


- The ladies I know would like some fashion retailers in which you don't need to go through 10 racks to find a good shirt. Like a Banana Republic would work with this demographic. Personally, I would like to see a yoga/fitness inspired retailer. Like Athleta or Title Nine. Lulu is too high end for the demographic.


- Trader Joe's would be great get


The key will be the broker's success in getting enough co-tenancy interest to make retailers want to be at this center & underscoring that mid-to upper-end shoppers would rather go to a smaller, lifestyle type center in Munster than the older Southlake Mall which is really more junior fashion focused.


Unfortunately, I don't think Outback is going to help this cause. Already in the market. Old Brand. Blah. Rather have a Lou Malnati's, Capital Grille, Cheesecake, etc (Something new/different for the area!)
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