In a statement released today (September 16), Kevin Smith, President and CEO of IQI, the corporate umbrella for several technology, construction and real estate companies based out of South Bend, said “Thanks to the many people and companies who’ve believed in and worked hard to support what we’re doing in the Renaissance District, we’ve now entered the next exciting phase of this transformational project. Existing tenants are expanding, and new ones are moving in.”
Smith also confirmed additional capital has been obtained for operational and future development to support the project, making it one of the largest new investments in downtown South Bend in recent years. Sure to become a case study for others seeking to integrate data, power and real estate into a greater whole, the financing team which includes Draper and Kramer and Streamline Realty Funding approached this as “tech-infused real estate,” something new, that was neither technology nor real estate alone. “It’s gratifying to have your life’s work validated by independent third parties and financing sources,” Smith said.
“We’ve always seen ourselves as community champions, and with this new foundation we’re ready to move forward, to see how we can build on our momentum and better serve our tenants and our community,” added Smith. “Over the next several weeks we’ll be announcing expansions by several existing tenants, and new tenants moving in before the end of the year.”
The Renaissance District, true to its mission, is already home to a broad range of tenants all of which contribute to a sophisticated “live/work/learn/serve” environment—including significant cloud computing companies, major private corporations, prestigious universities, and high-tech R&D start-ups. The new tenants to be announced over the next few weeks will add to the richness of the Renaissance District.
Phase 1 of the Renaissance District was completed in 2012, when Smith acquired the remaining Studebaker manufacturing buildings, expanding his downtown presence beyond that represented by his ownership of Union Station and Global Access Point. Phase 2, which began right after the acquisition, was the remediation and cleanup stage. Phase 3 focused on massive cosmetic and infrastructure work, including highly sustainable heating and cooling systems, and the integration of robust digital and fiber optic systems. That work began in earnest on May 13, 2016, at a formal groundbreaking, keynoted by former Indiana Governor Mike Pence, and attended by South Bend Mayor Pete Buttigieg and former Executive Vice President of the University of Notre Dame John Affleck-Graves.
The most obvious signs of progress over the past three years have included a new boulevard, a significant parking lot on the south side of campus, and restored and upgraded exteriors. “Although we feel very good about the exterior work,” Smith said, “the work we’ve done to infuse technology into this century-old campus is even more satisfying. It’s one of the reasons so many companies and organizations learn about us and then decide to locate here.”
“This re-imagined campus is now proving that technology, power and massive amounts of space can be people-friendly and eco-friendly. That balance between a consummate regard for humanity and the engineering feat of the Renaissance District is what’s drawing people here from all over the world.”
“Hundreds of dedicated individuals and companies have believed in this massive undertaking. They’ve made it happen. Now we’ll start growing this space into the powerhouse of ideas, inspiration, and innovation it’s meant to be.”
The Renaissance District features high capacity and redundant power, scalable data transfers to and from any point on the globe, and nearly a million square feet of virtually indestructible technology- infused space. It is located at the south end of downtown South Bend, Indiana.
About IQI Balanced Intelligence
IQI Balanced Intelligence is the corporate umbrella for Global Access Point, Lonewolf Construction, Union Station Technology Center, Studebaker Building 84, Infinity Fiber and South Bend’s Renaissance District. The IQI portfolio consists of purposely designed companies working together to leave the world better than it was found it. Principal owner is Kevin Smith of South Bend.