Photo courtesy Google Maps
A re-groundbreaking ceremony will be held Friday for the Tuscany Village Project that gained approval by St. Joseph City Council in 2005.
“This has been in the making for probably 12-years,” said Scott Hausman, Tuscany Village Co-Owner and Developer. “Seven years ago we were under full construction and then with the turn of the economy things had changed and the contracts we were working with at the time basically dried up so we went dormant and took the project dark and we are back at a better time with more tenants available and better things on the horizon. So we’re restarting the project.”
The project is located at the northwest corner of I-29 and N. Highway 169. The first phase will consist of around 27 acres of mixed use commercial development.
“We’re revitalizing phase 1 which is what we were working on at the time that we stopped,” Hausman said. “There will be hotel, entertainment, dining, retail. Just mixed uses so it’s an all inclusive type development.”
Originally, Hausman said completion of all phases of the 67 acre project was estimated at around $138 million, however this many years later the cost could end up at more than $150 million.
In 2006 and 2007 work had been done on phase 1 before it was halted.
“We put in the engineering services, the front end costs, the soft costs and then did several million dollars worth of work there,” Hausman said. “It’s hard to believe when you see it but it represents around $4-million dollars worth of investment into that project thus far besides the cost of the ground.”
Hausman said an improved St. Joseph economy shows a need for this project.
“The St. Joseph market has never stopped growing. It’s hard to believe that over 300,000 people come to St. Joseph to do business and trade,” Hausman said. “A lot of people wouldn’t believe it but St. Joseph is still undeserved.”
The St. Joseph Chamber of Commerce said according to the developers St. Joe 47 LLC streets and utilities are set to go in immediately. That is expected to be completed by fall of this year.
Buildings will then be constructed with some estimated for opening in late spring of 2016
Hausman said there are a number of well-known tenants that have committed to the site.
“There’s a major brand flag hotel that does not exist in the community that’s putting in a 108 room hotel right off the bat. Speedy’s is putting in another location along with a couple of drive-thru type co-tenants, and a little bit of retail with it,” Hausman said. “There are a couple of national named franchise restaurants that are looking at our site.”
Hausman said some of the tenants may be named during Friday’s groundbreaking which is scheduled at the Tuscany location at 11 a.m.