Coachmen only bidder on Goshen housing project

Feb 11, 2009 (Goshen News - McClatchy-Tribune Information Services via COMTEX) -- COA | Quote | Chart | News | PowerRating -- The River Race redevelopment project now has one bidder.

All American Building Systems, LLC, the housing arm of Coachmen Industries, Inc., submitted the sole bid on the project, opened at the Redevelopment Commission's meeting Tuesday afternoon.

"The level of excitement is high, but it's cautiously optimistic," Coachmen Vice President of Sales and Marketing Art Breitenstein said.

Breitenstein gave some overview of Coachmen's position and answered questions at the meeting. He called the project a "tremendous opportunity."

The company's offer of $995,000 for the properties involved, however, falls more than $2 million short of the city's asking price of $3.682 million.

"We acknowledge that our offer may not cover the city's acquisition costs and is approximately 31 percent of the 'appraised' value," the proposal stated. "Unfortunately, we are not certain that any appraisal of these lands, given the current local economic climate ... can be relied upon. There may be, in fact, no viable market for the homes we hope to build at (the) River Race until mid-2010."

The proposal includes 119 town homes, 27 carriage homes, a five-unit condominium/retail site and 39 rental units for a total of 233,000 square feet of new living space, as well as 167,500 square feet of new retail space. The "very preliminary" estimated retail value of the homes and retail space along with public roads and utilities attached to the project is $32,894,000.

In total, seven companies are involved in Coachmen's proposal. All American Building Systems is slated as master planner, with JJR, LLC, of Chicago as site planner, American Structurepoint, Inc., of Indianapolis as civil engineers, Ancon Construction of Goshen as the general contractor, MPA Architects of South Bend completing building designs, Lucid Technologies of Goshen directing electric energy generation opportunities and LaCasa, Inc., of Goshen handling any building reclamation responsibilities.

The proposal outlines three neighborhoods to be located within the redevelopment area. The Village at Old Stone Bridge would consist of town homes and be located on the west side of the canal starting near Jefferson Street and going south to the halfway point between Monroe and Purl Streets. The Village on the Race would consist of carriage homes and be located on the east side of the river between Douglas and Monroe Streets. The Village at Mercantile Alley would consist of condominiums and retail and be located on the east side of the river between the Madison Street and Jefferson Street bridges.

Breitenstein said the units would include solar panels on the roof.

In addition, the AABS plan has bike paths, lighted walks, a fish habitat and fishing piers that are handicapped-accessible.

Public bicycle, boat and gondola rental, a Farmers Market festival area, a large festival event park and a multi-purpose stage are also in its plans.

The bid proposal was referred to Community Development Director Mark Brinson for a staff recommendation.

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