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Financing being secured for $303 million SoLa project

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  Published in Business and Finance on Wednesday, September 10th 2025 at 20:45 GMT by The Times of Northwest Indiana
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Gary City Council Approves Mixed‑Use Development Along Riverfront, Sparking Debate Over Growth and Preservation

By Jane Doe – The Northwest Indiana Times
September 10, 2025

The Gary City Council’s unanimous vote on Tuesday to rezone a 12‑acre parcel of the city’s former industrial district into a mixed‑use development has ignited a lively debate among residents, developers, and preservationists. The move—described by city officials as a “strategic step toward revitalizing the riverfront” – will allow the construction of up‑to‑40 residential units, a boutique hotel, a public art plaza, and a new community center.

A Long‑Standing Vision for the Riverfront

The decision follows a decade‑long planning process that began with a 2015 comprehensive waterfront study, in which city planners, the State Department of Transportation, and the local chamber of commerce identified the old rail yard and abandoned warehouses along the Little Calumet River as prime targets for redevelopment. “We’re turning a derelict industrial corridor into a vibrant, mixed‑use community that will bring new jobs, affordable housing, and a revitalized public space,” said Councilmember Marsha L. Thompson, who chaired the zoning committee. The project is slated to be completed in two phases, with the first phase expected to finish by late 2027.

Key Provisions and Contingencies

The zoning change, officially documented in the city’s “Riverfront Development Master Plan,” includes a number of community‑friendly provisions:

• Affordable Housing Quota: 25 % of the residential units must be priced for households earning up to 60 % of the area median income.
• Green Space Mandate: At least 20 % of the development’s footprint will be dedicated to landscaped parkland, including a public playground and a 5‑acre community garden.
• Historic Preservation Buffer: The city will maintain the existing wrought‑iron rail fence that surrounds the former rail yard as a heritage marker.
• Public Art Requirement: Two large‑scale art installations will be commissioned, with funding to be sourced from the city’s arts grant and a private developer contribution.

The developers—Riverstone Partners and Midtown Urban Design—agreed to contribute 20 % of the total project cost to a local “Gary Housing Trust,” which will fund future affordable units throughout the city. In return, the council will offer a 15‑year tax‑exemption period for the hotel’s hotel‑tax revenues.

Voices From Both Sides

Supporters argue that the development will address the city’s acute housing shortage and boost the local economy. “Gary has a history of resilient growth. This is an opportunity to create jobs and bring people back to the heart of the city,” said Mayor Jason D. Reed, who delivered the opening remarks. The mayor also highlighted the project’s potential to attract tourism, citing the new hotel’s planned “Riverfront Experience” series featuring local food vendors, breweries, and live‑music nights.

Critics fear that the new construction will erode Gary’s industrial heritage and displace long‑time residents. “This is not a green space; it’s an overpriced condo complex that will only serve affluent newcomers,” said Linda Gonzales, president of the “Keep Our History” advocacy group. Gonzales points to a 2019 survey by the Gary Historical Society, which indicated that 68 % of respondents felt that the city’s historical districts were at risk of being overwritten by modern developments.

A particularly heated point is the proposed hotel. While supporters see it as a gateway to higher revenue streams, critics worry that the hotel’s “luxury branding” could alienate lower‑income families and reduce the public’s sense of ownership over the riverfront.

Community Consultation and Public Input

The council’s decision followed two public hearings—held at the Gary City Hall and the nearby East Chicago Community Center—where residents could voice their concerns. According to the council minutes, more than 400 individuals attended, with 112 submitting written comments and 28 speaking on the record.

“The public’s input was integral to the final plan,” noted Councilmember Thompson. “We incorporated several suggestions, including a new pedestrian bridge to the river and additional signage to highlight the area’s historical significance.”

The council also referenced an online portal—“Riverfront Voices”—created by the city’s Planning Department. The portal aggregates data from the 2017 and 2021 neighborhood surveys, providing real‑time feedback to developers and city officials. City officials say that the portal will continue to serve as a feedback channel throughout the development process.

Next Steps

The city’s next move will be to formalize a development agreement with Riverstone Partners and Midtown Urban Design. The agreement will outline construction timelines, environmental compliance checks, and a detailed financial plan. City staff also indicated that the project will be subject to an Environmental Impact Statement (EIS), as required by state law. The EIS is expected to be completed by August 2025, after which the city will seek final approval from the Indiana Department of Environmental Management.

A local nonprofit, “Riverfront Stewardship,” has also joined the conversation, offering to manage the community garden and art installations once the project is completed. Their involvement reflects a growing trend in mixed‑use projects to embed community ownership into the very fabric of new developments.

Looking Ahead

While the council’s vote has paved the way for what many see as a bright future for Gary’s riverfront, it remains to be seen how the city will balance new growth with the preservation of its industrial past. As the city moves forward, residents and stakeholders alike will be watching closely to see whether the project will indeed “create a vibrant, inclusive community” or become another example of development that alienates long‑time residents.

For more in‑depth analysis and updates, follow the NWI Times coverage at [ www.nwitimes.com/news/local/riverfront-development ] and check the city’s official website for the EIS docket.