Last Updated on April 4, 2022 by Michelle Dials | Cass County Online
(ABOVE: A rendering for “The Junction” that was released in June 2020.)
At tonight’s meeting of the Logansport City Council, Bill Cuppy, president of the Cass Logansport Economic Development Organization and the Logansport-Cass County Chamber of Commerce, provided an update on the project to redevelop the former Logansport Mall.
The property was purchased by Park Development LLC in February 2020, just a few weeks before Indiana’s stay-at-home orders began due to the COVID-19 pandemic.
The first renderings of the proposed development, known as The Junction, were released in June 2020.
Demolition on the JCPenney building began in November 2020.
Planet Fitness opened at the northwest corner of the property in March 2021 and a Home 2 Suites by Hilton is under construction on the east side of the property where the former JCPenney building was located.
Residents have been asking questions on social media, wanting updates on the status of the project.
Cuppy says that the mall developer has spent about $3.1 million to date.
The City of Logansport has funded a retail recruiter at a total cost of $51,250, and the Redevelopment Commission has committed TIF funds – $70,000 for an access road.
A new sewer line is being installed to accommodate the hotel as well as future development in the area. The Logansport Redevelopment Commission provided $300,000 in TIF funds for the sewer project.
Cuppy says sewer work will start this week, along with more concrete removal at The Junction.
He says steel for the storefronts has been ordered and they anticipate it will take about six more weeks for that to come in.
Cuppy said they’ve been working with a large retailer for several months and are “very close to being able to announce a new, well-known larger franchised retailer.”
TIF bonds were secured for both the mall and the hotel. Cuppy says the bonds relate to future property tax revenue that will be collected based on the assessed value of additional improvements of The Junction and the hotel property, and do not obligate the city.
In January 2021, Park Development announced plans to work with the city to develop the area of Lexington Village.
Tonight, the council unanimously approved Resolution 2022-115, which gifts the parcels in the Lexington Village Subdivision to the Logansport Redevelopment Commission, who would then be able to issue a request for proposals (RFP) to develop the site.
According to the resolution, the City Council has the right to review and approve an RFP for development of the site(s) before it goes out.
The city is in the process of creating a residential TIF district for the Lexington Village area and also hopes to receive funding to develop infrastructure for the area, including sanitary sewer, water, storm water and road upgrades, through Indiana’s READI program.