WSBT // February 19, 2013WSBT takes a look at the exciting new development and its conveniences View now!
South Bend Tribune Article // Heidi Prescott, February 3, 2013
When you're apartment hunting, you usually look around the neighborhood.
The more urban the residential complex, the more you might be interested in what amenities and destinations will be close to home.
Within walking distance of your home, even.
Whether you want to work out at the gym, pick up a few groceries, buy a new outfit, get a haircut, or grab dinner or dessert, you may not have to worry about getting in the car if you live at the planned new luxury apartment complex at Toscana Park.
The growing number of businesses in that Mishawaka complex, as well as in the neighboring Heritage Square shopping center, contain a variety of shops, restaurants, and service-type businesses.
And both are growing.
"I'm not sure if there is another place to live regionally with this kind of walkable access to that much retail," says Brad Toothaker, president and chief executive of CB Richard Ellis-Bradley.
The complex will be called the Residences at Toscana Park, and they will be located on land adjacent to the commercial complex.
About 100 units featuring one, two or three bedrooms -- most with a den option -- will be located in as many as a dozen buildings that should be under construction this month.
They should be available for delivery to residents in mid- to late-summer, barring any unforeseen construction or other project delays.
Units will range in size from 960 square feet to 1,530 square feet, and in price from $1,250 to $2,050 per month, says Bryse Toothaker, vice president, multifamily brokerage, CB Richard Ellis-Bradley.
The majority of units will have attached garages with direct access from the units, he says. Every unit will feature high-end finishes, including granite countertops and stainless-steel appliances, with many also offering vaulted ceilings.
Joe Dzierla is the principal architect and Majority Builders is the general contractor on the project.
The upscale residential complex has been in the works since Brad Toothaker and Ryan Rans, principals at Great Lakes Capital Development, purchased Toscana Park last year.
Their concept, Toothaker says, is similar to what graduate students and young professionals leasing apartments at The Foundry on Eddy Street near Notre Dame have around them: businesses and activity.
The residential component should also help drive continued commercial development at Toscana.
More consumers today are considering renting options as opposed to buying.
"It's not as much of an American dream any more" to buy a home, Toothaker says, given the decline of residential values since the housing crisis hit.
Toothaker says the units are expected to attract graduate students, young professionals, empty nesters and baby boomers. The Toscana Park complex will likely draw interest from people who desire maintenance-free living. The development is also expected to contain a clubhouse, fitness center and swimming pool.
"Many transient professionals who are on a one- or two-year contract want more space," Toothaker says. "Or someone might be moving here with a family but won't spend enough time in the market to look at buying a home.
"It will serve as a steppingstone between the neighborhoods and Toscana Park," he adds. "It's a fantastic transition from retail to residential."