SOUTH BEND — Despite, the tough economy, Eddy Street Commons in South Bend keeps growing.
Now entering its second year, the developer boasts it only has three empty store fronts left for sale.
And Eddy Street will see three new stores open within the next three months.
With its connection to Notre Dame, it's no surprise the outdoor retail and restaurant development has become the new hot spot for students and professionals.
Developers said that's why it's so appealing to potential investors.
"It's electric,” said Sonia Stamcombe, a store owner at Eddy Street. “It’s a nice place to be, we love it."
Business is booming.
"It's been doing so well we want to be here full-time," Stancombe said.
Stancombe is the owner of Nicholas J. Salon and Spa.
She’s closing her downtown South Bend Salon to merge all operations at Eddy Street.
“We have a lot more traffic flow here,” Stancombe said.
And other businesses are thinking along the same lines.
Eddy Street Commons will welcome Urban Outfitters in late August, McAlister’s Deli in September and Brother’s Bar and Grill in October.
Brother’s Bar and Grill along with Urban Outfitters hoped to open at the start of the school year.
“I think everybody was working to be open in the back-to-school, football season time frame. But like everything in life, sometimes things take a little longer to happen,” said Ashley Bedell from Kite Realty Group.
But that delay isn't stopping other progress.
96 percent of the apartments at Eddy Street are leased as well as100 percent of the office space.
And 29 of the 30 city homes are sold.
Over at the Fairfield Inn & Suites business couldn’t be better.
"We've been doing a phenomenal business every month," said Barbara Tenney, the senior sales manager at the hotel. "We're right in the middle of everything, and with Eddy Street growing, with all the different restaurants, everyone likes to be right in the hub of all of this.”
The original blueprint for Eddy Street Commons shows a full service hotel is supposed to be built in the lot in between the Fairfield Inn and the restaurants and shops, but are developers still expecting that to happen?
"There's still going to be a full service hotel there, but I don't have a timeline or a detailed schedule I can share," Bedell said.
Kite Realty said it hasn't secured a hotel brand for the empty lot.
But with a Marriott-related hotel next door, there is speculation that parcel of land will be home to a new Marriott, since the other just left downtown South Bend.
“I can tell you that our parcel is not tied to that hotel, we watch the market and those two are not connected," Bedell said.
With the three empty store fronts left in Eddy Street Commons, developers said it's likely we'll see a convenience store and a coffee shop coming there, but none of those are set in stone just yet.
The Fairfield Inn & Suites at Eddy Street said there is a high demand for hotel rooms year round at its location because it's so close to the university.
The hotel said it's booked for every home football game this year.
