The Founders Square StoryPosted:Mar 1st, 2017 12:05 pm
The Promenade at Founders Square has been a dream of Holladay Properties since we became aware of the City of Portage's desire to introduce a high-end downtown residential product several years ago. In 2014, Holladay began examining the viability of higher end multifamily community, built with an urban feel, embracing the streetscape, and offering modern amenities.
This project is an exciting development in Portage, IN. The City of Portage has invested or committed to investing in excess of $20,000,000 towards the development of the area immediately surrounding Founders Square. Completed investment includes utility and street infrastructure, sidewalks and curbs, street lighting, Founders Park and associated amenities including children's splash pad water, a new police station, new fire station, and an amphitheater.
Some of the key elements of the project include:
- Introduction of commercial & retail presence along Main St near Founders Park
- Development centers on Founders Park
- Quasi-commercial element in buildings immediately North of Founders Square
- Two parks "pocket park" near Little League to transition from recreational to residential
- Proposed development includes nine (9) buildings totaling 304 Units
- Unit-mix comprised of 55% one-bedroom, 40% two-bedroom, and 5% three-bedroom
- Common amenities include: two quasi-public parks, fitness center, pool, common kitchen and party room, and business center
- 1/3 of units have access to private garaged spaces, accessible directly from the unit or via interior corridor
- Introduction of a public street through the project to maintain urban feel
- Despite development in commercial, industrial, medical, civil, and hospitality - there has been no multifamily development in Portage in over 10 years, and only one development in last 20 years
- Holladay has developed a strong reputation for quality due to the success of AmeriPlex at the Port - this has led to the opportunity to introduce a new downtown residential project which fits with the City's vision for the Downtown Development Area