historic calumet bank building converted to apartments downtown hammond indiana

Downtown Hammond’s Historic Calumet Bank Building Converted To Apartments

    The historic 100,000 square foot, 9-story Bank Calumet building, which served for decades as the cornerstone of Downtown Hammond but has sat vacant since 2015 when First Midwest Bank closed its operations, is now undergoing a remarkable metamorphosis into 100 market rate rental apartments on floors 2-9 and a 7,000 square foot event venue in the majestic first floor banking hall.
    The successful closing of construction financing for the transformative redevelopment of the iconic Bank Calumet building was announced by — NWI Development Group – in partnership with ASA Real Estate Development and ResElevate. The financing was secured through a collaborative effort with a consortium of three regional banks: Peoples Bank, Horizon Bank, and Centier Bank.
    the banc development downtown hammon indiana e1702059636363
    The Michigan City Development Company is known for many projects in Northwest Indiana. Such as the Barrelhouse Venue in Michigan City, Beachwalk Vacation Rentals in Chesterton, La Porte, & Michigan City, Indiana, and New Buffalo, Michigan; and a warehouse converted to a business complex at the Anchor Road Building in Michigan City.
    This significant project comes on the heels of the soon-to-be-complete West Lake Expansion of the South Shore Commuter Rail, and the City of Hammond’s Streetscape improvements associated with its visionary downtown Master Plan created through the bold leadership of Mayor Tom McDermott and brought to life by renowned urban planner Jeff Speck. NWI Development Group’s undertaking of this transformational project reflects its commitment to revitalizing and enhancing the urban landscape of Northwest Indiana through thoughtful Transit Orientated Development (TOD). 
     “We are thrilled to have secured the necessary construction financing for the redevelopment of the Bank Calumet building,” said Robert Harte, President of NWI Development Group. “This project not only represents a major milestone for NWI Development Group but also marks a massive step forward towards the revitalization of Hammond’s urban core and sends a signal to the greater Chicagoland area that Northwest Indiana is moving forward.” 
     Harte continued, “The consortium of regional banks, including Horizon Bank, Peoples Bank, and Centier Bank, recognizes the importance of investing in projects that contribute to the economic growth, development, and revitalization of the Region. Their continuing support, considering this rising interest rate and high inflationary environment, underscores their collaborative spirit and commitment to the significant upward economic trajectory of Northwest Indiana.”
     The development, known as The Banc, was also propelled forward by the receipt of direct financial incentives from the State of Indiana Economic Development Corporation (IEDC) and the City of Hammond, and the unwavering support of the region’s economic development leaders at Lake County Economic Alliance, One Region, the Northwest Forum, the Northwest Indiana Regional Development Authority and the Lakeshore Chamber of Commerce.
     The makeover of the Bank Calumet building into The Banc is scheduled to be completed in May 2024, with its first residents taking occupancy in early summer. The Banc will provide much-needed housing options in the area, breathe new life into an Iconic landmark, and mark the Region’s first Transit Orientated Development (TOD) following the successful execution of the South Shore Commuter rail expansion and improvements.
     For more information about The Banc, including updates on leasing activity for both the apartments and the event venue, please visit The Banc’s dedicated website at www.thebanchammond.com or call NWI Development at 219.243.7184.


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Sue

Sue Baxter

Susie Young Baxter, CEO, has published PanoramaNOW Magazine for 31 years. Her hobbies are Camping, Boating, Hiking, Nature, Gardening and Outdoor Activities. She is an Artist, Graphic Designer, an Avid Seamstress, Dabbles in Homemade Crafts and Landscaping. Since her Father was a Health Teacher, she also likes homeopathic Health Solutions. Since blogging started over 10 years ago, PanoramaNow has been added to Newsbreak – a national news affiliate.

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About The Author

Sue Baxter

Susie Young Baxter, CEO, has published PanoramaNOW Magazine for 31 years. Her hobbies are Camping, Boating, Hiking, Nature, Gardening and Outdoor Activities. She is an Artist, Graphic Designer, an Avid Seamstress, Dabbles in Homemade Crafts and Landscaping. Since her Father was a Health Teacher, she also likes homeopathic Health Solutions. Since blogging started over 10 years ago, PanoramaNow has been added to Newsbreak - a national news affiliate.