Residential sales have kicked off at the $311 million SoLa project that will reshape the skyline of downtown Michigan City.
Farpoint Development, the developer behind major projects including 830 N. Michigan Ave. and 939 W. North Ave. in Chicago, is now selling residential units for the planned mixed-use development whose name is short for "south of the lake," which will include 170 new condominiums and 18 townhomes. Plans for the resort community by the Lake Michigan lakefront in downtown Michigan City also include a 250-room hotel, a rooftop pool, restaurants and retail businesses.
Economic Development Corp. Michigan City Executive Director Clarence Hulse said the high-rise at the site of the Matthew Hoffman "You Are Beautiful" sculpture at Franklin Street and Michigan Boulevard will be transformative for the city. It's one of a few massive downtown projects planned, including the 12-story, $101 million Franklin at 11th Street building and the $200 million to $300 million Fifth and Pine development that will bring 500 apartments and a grocery store.
Redevelopment has flooded downtown in light of the South Shore Line Double Track project that will shorten the commute to downtown Chicago. SoLa seeks to transform Michigan City more into a beach getaway like neighboring New Buffalo in Southwest Michigan.
The dramatic glass-and-steel building design was created by Koo Architecture, the firm behind The Wit and Sable at Navy Pier.
The hope is to attract people to buy full-time residences, summer homes and vacation rental investments. The site is a short walk from the Lake Michigan beach and near other attractions like the Indiana Dunes National Park, the Marquette Greenway Trail, the Lubeznik Center for the Arts, the Washington Park Zoo and the Lighthouse Place Premium Outlets.
“Michigan City has flown under the radar for years, but thanks to a confluence of different factors, like the South Shore Line’s upgrade, the city’s investment in creating a vibrant downtown and regulations on industry resulting in a cleaner lakefront, the time is right for it to come into its own,” Farpoint Development Principal Scott Goodman said. “As someone who has spent years traveling back and forth between Chicago and Michigan with my family, I’ve always recognized Michigan City’s untapped potential as a lakefront destination for both primary and secondary homeowners that is on par with any of Harbor Country’s popular vacation towns. The kickoff of residential sales at SoLa is the first step of what will surely be a transformative project for the area.”
According to its design, SoLa will have views of Lake Michigan and the Chicago skyline, with a 13-story hotel on the east end and a seven-story condo tower on the west end, as well as townhomes on both the north and west sides.
The plan's centerpiece is a 36,000-square-foot outdoor deck with a four-season pool and hot tub with a retractable roof. That would sit atop the 396-space parking garage for residents, visitors and diners.
The deck features amenities like cabanas, lounge seating, poolside food and drink service, fire pits, a dog walk and a dog wash station. The plan is to host screenings of outdoor movies and other community events there.
SoLa will also have an indoor gym, a spa and 21,000 square feet of commercial space. It's looking to have a restaurant and bar by the rooftop pool, as well as at least one ground-floor restaurant.
SoLa is initially releasing 128 residences for sale with condos ranging from 760 to 1,754 square feet and townhomes from 1,708 to 1,964 square feet. The condos start in the mid $400,000 while the townhomes start in the low $900,000s.
The condos range from one to three bedrooms while the duplex townhomes feature three or four bedrooms. Some of the townhomes will have private rooftops with views of Lake Michigan.
The homes have amenities like floor-to-ceiling living room windows, quartz kitchen countertops and private terraces.
SoLa will have an on-site rental management office called SoLa Vacation Rentals that will allow all residents there to rent their homes for short-term stays. It will have dynamic pricing that would for instance charge more during busy weekends during the peak summer season.
“As evidenced by the 550 registered prospects and the fact that 15% of the condos went under contract at the very start of pre-sales, anyone who has visited or vacationed in this area knows how rare it is for a new resort community like SoLa – with hospitality-style amenities and services, not to mention the ability to watch the sun set over Lake Michigan – to come to market,” Goodman said. “Adding to the convenient lifestyle at SoLa is the option for anyone who purchases a residence to offer their home as a short-term vacation rental when not in use, resulting in passive income that can make their purchase in this resort community even more attractive.”
Developer Alan Schachtman said the sales have started on a strong note. The developer has been working through the list of interested parties who pre-registered to be notified when it went on sale.
"Based on our discussions with buyers, there is definitely a pent-up demand for new-construction housing in this area with the high level of finishes and amenities that SoLa offers. So far, about 20% of our buyers say they plan to make SoLa their primary residence with second-home buyers and those wanting a vacation rental investment filling in the remainder, but this may change going forward," he said. "The proximity to the lake, marina, beach and the restaurants on Franklin, not to mention the location on the Singing Sands bike trail and having the new 11thStreet train station so close – making downtown Chicago just an hour’s ride away – have all been significant factors in attracting people to the SoLa condominiums."
Construction is expected to kick off in the summer and be finished by summer of 2027, when the hotel would open. SoLa is expected to employ 275 permanent workers and create hundreds of seasonal jobs.
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