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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA 26-story apartment and retail tower could rise along downtown's Central Canal if a Valparaiso developer wins the city's blessing.
The roughly $80 million proposal calls for 485 apartment units geared toward students atop a six-story parking garage with Canal-level retail space. A public hearing is scheduled for Dec. 29, but it likely will be delayed to allow more opportunity for neighbors to study the plan.
Investment Property Advisors put the property under contract and won rezoning approval last year, but the project still requires review by a hearing examiner because of its massive size and potential impact on the downtown landscape.
As proposed, the structure would become the city's ninth tallest building. For comparison, the new J.W. Marriott has 34 stories, and the City-County Building is 28 stories.
The project would be built on 1.2 acres along Ninth Street, between Senate Avenue and the Canal, replacing the former offices and warehouse of B.B. Kirkbride Bible Co.
The development would include about 5,600 square feet of retail space in a low-rise portion topped with a green roof on the Canal. The taller structure would be set back from the Canal, stretching toward Senate. Units in the building primarily would offer views either to the north or south.
Chase Sorrick and a partner founded the company in 2005 to focus on mixed-use projects geared toward college students.
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