La PORTE — Flaherty & Collins Properties has announced The Strand, a $35 million resort-style rental units will begin construction next month.
The La Porte Redevelopment Commission selected Flaherty & Collins to develop the 170,000 square feet of property near Clear Lake last year.
This new multi-family development will be constructed in “the heart” of La Porte’s NewPorte Landing redevelopment project. The Strand will consist of three buildings containing 200 new living units and 5,000 square feet of retail space at Hoelocker Drive and Truesdell Avenue, slightly north of downtown.
According to the La Porte Economic Advancement Partnership (LEAP), retailers have yet to sign up to lease the retail space being developed.
“I think restaurants will be a popular,” said Bert Cook, executive director of LEAP. “These types of buildings typically have coffee shops and places to eat on the ground level.”
Upper levels of the development will consist of one and two bedroom apartments ranging from $950-$1,450 in monthly rent.
Amenities are expected to include a saltwater pool with wet deck, an outdoor courtyard featuring a fire pit and grilling station, a pet wash and bark park, a fitness center with Fitness OnDemand technology and bike storage and repair. Apartments will feature granite countertops, tile backsplashes in kitchen area and stainless-steel appliances.
Cook sees the luxurious rental units as an alternative to similar complexes located in Valparaiso, providing opportunity for young professionals seeking these amenities to stay in La Porte.
“We have no doubt The Strand will be a game-changing project for La Porte,” said Cook. “There is a desperate need for this type of housing in our market and we know current residents, and potential new residents, will be excited to call this development home.”
The $35 million for The Strand’s development was supported through Tax Incremental Financing by the La Porte Redevelopment Commission.
“We are looking forward to starting The Strand,” said Julie Collier, vice president of development and lead project developer for Flaherty & Collins Properties.
“The city has been a great partner in this project, and we believe The Strand will be a vital component for helping the city realize its vision for NewPorte Landing, while giving new residents an exciting living destination that energizes the Clear Lake area,” Collier said.
La Porte Mayor Mark Krentz shared his excitement for the development.
“The Strand project with Flaherty and Collins serves as a very important catalytic development for the renaissance of La Porte. In my meetings with the Flaherty and Collins team in early 2018, I realized their capabilities were a perfect fit for our plans for NewPorte Landing," Krentz said. "They have already brought new focus to additional development possibilities. I have toured their Kokomo project extensively on two occasions as the final determination for a developer was being considered. Mayor Greg Goodnight shared with me all of the positive effects of the revitalization project in Kokomo. I am very excited that their professional, experienced team has chosen to invest in La Porte.”
Environmental cleanup of the property is set to begin within the next thirty days. Vertical construction of the buildings is expected to begin in the spring of 2020. Construction will likely be completed by the third quarter of 2021.