Mishawaka to break ground on second phase of $67M riverfront apartments
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Mishawaka officials will break ground Wednesday morning on the second phase of a multi-million-dollar mixed-use development on the banks of the St. Joseph River.
Flaherty & Collins is developing The Mill at Ironworks Plaza and completed its first phase, a 232-unit building with ground floor dining, in 2019.
The second phase will cost $67 million and bring 227 studio, one-bedroom and two-bedroom apartment units to the growing Beutter Park area of Mishawaka’s Riverwalk.
Rents are expected to range between $1,100 to $2,000 a month and developers have said they’re courting local retailers to occupy 10,000 square feet of new commercial space in the complex.
The Mill’s first phase now features Sun King Brewery, Social Cantina and Mishawaka Public House — all of which have opened within the last year.
In July, city officials approved of a new, 25-year tax increment financing district and issuance of city bonds to support the project. Mishawaka is expected to contribute $13.6 million and land, valued at $1 million, to the public-private partnership.