Four downtown properties could be demolished in hopes of future development and revitalization. (WJBC File Photo)
By Andy Dahn
BLOOMINGTON – A plan that would demolish four downtown Bloomington properties to make room for future development will move forward, as approved by the city council Monday night.
Front ‘N Center, Commerce Bank, DUI Countermeasures and the former Elks Lodge would be purchased and demolished under the proposal, but a date for demolition has not been set.
If torn down, the properties would then be made “shovel ready” for interested developers to invest in, with hopes of revitalizing the downtown area.
What worried many council members was the hefty price tag of just over $8 million that was presented by developer Jeff Giebelhausen. The money will likely come from borrowed funds and bonds.
“That’s for acquisition of the properties, environmental abatement, demolition of the properties that actually get demolished, relocation of one of the businesses (Commerce Bank),” Giebelhausen said. “The cost is pretty much for the whole package.”
What will replace those properties, Giebelhausen said, is currently unknown.
“The exciting point is it opens up the entire development world that has a dream or idea for that property,” said Giebelhausen. “I’m not going to narrow it down and say what it might be. It could be mixed use, retail with office, retail with office with residential, hotel with retail, who knows? It becomes a blank canvas.”
Alderman Scott Black said the plan could be extremely beneficial.
“We are right there at the precipice of becoming this wonderful area,” Black said. “And we can invest properly and see development nurtured down the road. That’s what I find exciting.”
But the proposal didn’t sit well with residents such as Elizabeth Gruber, as well as council members worried the cost is too high as concerns about the city’s budget continue to swirl.
“When I see a city council putting taxpayer money forward, it makes me question what you’re doing,” Gruber said. “Because I don’t think you should be risking my tax dollars.”
City staff now has approximately four to five weeks to form a definitive plan of action to demolish the buildings before an option with the current property owners expires.
Andy Dahn can be reached at andy.dahn@cumulus.com.
