February 2019 – New Partner Added to Hotel Elkhart Redevelopment
Mishawaka (February 28, 2019) – The revitalization of the former Hotel Elkhart has begun, and a new investor has been attracted to downtown Elkhart. Cressy Commercial Real Estate is pleased to announce a joint venture with Mno- Bmadsen, the non-gaming investment arm of the Pokagon Band of the Potawatomi Indians. This partnership will result in the largest privately led redevelopment project in Elkhart in over 40 years and will fill a critical economic need within the community.
The investment in the Hotel Elkhart project is Mno-Bmadsen’s first commercial investment in Elkhart County. “This investment grows a very important partnership with Cressy and expands our commercial real estate portfolio further diversifying our investment holding,” said Julio Martínez, Chief Financial Officer for Mno-Bmadsen.
This redevelopment project is a collaboration of public and private partnerships, including the City of Elkhart, State of Indiana, Centier Bank, The South Bend Chocolate Company, Regional Cities Initiative, Department of Natural Resources, Mno-Bmadsen, and Cressy Commercial Real Estate.
Why Elkhart? “The Elkhart area is an important part of the historically ancestral lands of the Tribe, and the city’s commitment to renovate its downtown area makes this an excellent investment opportunity,” said Martínez.
Upon completion in the Spring of 2020, the Hotel Elkhart will offer 93 full-service boutique guest rooms, South Bend Chocolate Café, a taproom/bar, breakout meeting space, along with a fully-renovated
9th floor Athenian Ballroom offering outstanding views from an expansive rooftop deck. Chris Fielding, CEO for Cressy Commercial Real Estate stated, “We are very excited for this catalytic project and the impact it will have on downtown Elkhart….the values of the Pokagon Band align with those of our company and we are excited to have a partner that believes in using their success to make our community a better place to live, work and play.”
Cressy Commercial Real Estate a regional leader in the commercial real estate industry and the developer behind University Park Mall, Edison Lakes Corporate Park, and the Main Street corridor in Mishawaka representing over $1 billion in private investment to date. The Cressy Commercial Real Estate Brokerage division is an affiliate of the NAI Global brokerage platform. For more information on Cressy Commercial Real Estate please visit www.cressy.com, for more information on Mno-Bmadsen visit www.Mno-Bmadsen.com