Work has begun on the first business building in the Lakes of Valparaiso subdivision, which Valparaiso city leaders and the developers marked Wednesday with a groundbreaking ceremony.
The 80,000-square-foot shell building, which will be empty but designed to attract businesses, should be complete by next year but has already gotten attention from potential buyers and renters, officials said.
At the Site Selectors Conference in Indianapolis recently, Valparaiso Economic Development Corp. President and Chamber of Commerce President Rex Richards said he had inquiries based on developer Garmong Construction Services’ initial fliers.
Richards said the shell buildings, ready to be built out for businesses, may also attract businesses that will build on empty lots, but “If you’re in the sales business, you’ve got to have something to sell.”
Mayor Jon Costas said that this could spark a renaissance of economic development in Valparaiso and “hopefully this will birth many more buildings and jobs.”
Garmong Construction from Terre Haute is constructing the building just south of Vale Park Road, on the east side of Indiana 49 and west side of Bartz Road. Officials said it should be finished in mid-2017.
All sides touted the building as a partnership between private and public sectors.
Garmong Vice President Dan Zuerner said the company has been constructing shell buildings since 2005 when it became a trend that businesses wanted available buildings instead of building their own.
According to the agreement signed earlier this year with the city, Valparaiso will pay rent on the building until it is either sold or rented, covering the interest rates for Garmong, Valparaiso Economic Development Director Patrick Lyp said.
James D. Wolf Jr. is a freelance reporter for the Post-Tribune.