RDistrict One LLC is pleased to announce the $22.9 million financing of the restoration and adaptive reuse of the Studebaker assembly complex into a mixed-use innovation center, providing manufacturing, training, education, technology firm and incubator space in the Renaissance District in South Bend, Indiana.

The formerly shuttered Studebaker complex was once home to the Studebaker Corporation, one of the largest automakers in the United States. Studebaker closed its doors in 1963 and left the City of South Bend struggling to revitalize the neighborhood and economy over the last few decades.

The redevelopment of 220,000 square feet of the nearly million square foot campus is estimated to create in excess of 400 permanent jobs, allowing for competitive lease rates for nonprofit and entrepreneurial space, and providing for an innovative mix of technology, manufacturing and retail opportunities in the low-income community. Through collaboration with the local community and educational institutions the Innovation Center’s mission is to create and encourage light manufacturing and technology oriented careers and to provide training and support.

For the full press release, please click here.