Former Hammond apartment property gaining interest with developers
By Michelle L. Quinn Post-Tribune correspondent January 16, 2013 3:52PM
Updated: January 19, 2013 1:22PM
HAMMOND — A portion of the former River Park Apartment complex property is set to be offered to business developers this week.
The city on Jan. 21 will issue a request for proposals on three lots of the remaining 17 acres of the property. The RFP comes as several businesses have approached the city about the land, renamed Oxbow Landing, said Phil Taillon, executive director for the city’s Planning and Development Department.
A restaurant, medical facility and recreation center have expressed interest within the last four to six months, Taillon said.
A 2.6-acre parcel of land has already been purchased by Yagnesh Patel for a hotel, Taillon said, but construction has yet to start.
“I check in with him periodically, and (Patel) said that with the economy opening up, he should be able to secure financing and start construction this year,” Taillon said.
Other acreage was used in the extension of the road around the property, and 1 acre acquired through public domain will be used as a park or other public use.
Taillon said the land has been reappraised at $140,000, and the city continues to look at the property as a retail corridor.
“If we wanted to make (Oxbow Landing) an industrial site, we could’ve done it long ago. But we have plenty of industrial sites in the city as it is,” Taillon said. “We want more retail opportunities for Hammond, and we’re excited for new restaurants and retail places for residents to shop.”
The RFP will be open until Feb. 19, and the proposals will be read at the March 5 Hammond Redevelopment Commission meeting, Taillon said.
Hammond bought the River Park Apartment complex in 2005 with the intent to tear it down, after the complex was cited for health violations and other issues.