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Current News

Portage Breaks Ground on Massive New Development

Thursday, May 18, 2017

On May 11th, representatives from Holladay Properties and the City of Portage, along with others, broke ground for a new large-scale development: The Promenade at Founders Square.

This mixed-use development represents a massive investment in Portage’s quality of place, according to Portage Economic Development Corporation Executive Director Andy Maletta. “Truly, today is a great day for Portage,” Maletta said at the ceremony.

According to Holladay Properties, the project’s developer, the 14.5-acre project will feature:

  • Nine buildings in total (five of which are currently approved by the city as the first phase of the project)
  • 304 residential units (including a mix of studio, 1-, 2- and 3-bedroom units)
  • Six retail, commercial or restaurant sites covering 10,200 square feet of ground-floor space (with two as-yet-unnamed restaurants already part of the project)
  • Amenities including exercise facilities, a cyber café, a pet spa and garage parking. Neighboring Hannah's Hope playground, a specially designed play area for both special needs and able-bodied children, one of only two playgrounds of it's type in the nation
  • Framing Founders Square Park, there is also access to a splash pad and amphitheater

At $37 million, this project represents Holladay Properties largest single investment in the company’s 65 years of operation. All nine buildings are expected to be complete by the end of 2019. Designed with both millennials and empty nesters as the target market, officials say new buildings will be completed every few months and are expected to be in high demand. There is still more room nearby for further development as well.

Andy Maletta, Executive Director

Portage Economic Development Corporation

219.406.3731

amaletta@portage-in.com

www.portagein.org

 

Holladay Properties

www.holladayproperties.com