A condo construction project which has sat unfinished and deteriorating for the last two years now has a new owner. We are learning more about the future of Legacy Square near Notre Dame.
The property, which sits at 823 Sorin, was purchased out of foreclosure at a Sheriff's sale on August 22nd. Belcorp Financial Services, out of the Chicago area, paid over $600,000 for it.
Belcorps's owner, Norm Belas tells WSBT, he was an initial lender on the project two years ago. It was going to be single family condominium units, but the 5 building development has been sitting empty and unfinished since construction stopped in 2011 after the original developer ran out of money.
90-year-old Marilyn Ehman is not shy about her feelings about the property.
"I don't like them," she says, referring to the looming, deteriorating buildings in front of her home, "What can you do? Nobody asked my opinion. Or maybe they did and it was so long ago I wouldn't remember anyway."
Ehman has lived near the corner of Sorin and Notre Dame avenue for more than 70 years. And for the last two the view from her window has been obstructed.
"They are just outlandish. They just don't belong there. I resent it really," says Ehman.
But there is new hope for neighbors. The owner of Belcorp, Norm Belas, says he is aggressively seeking developers to finish the project.
"Its definitely a step in the right direction because it means someone has a plan to do something," says neighbor Anthony Krenselewski.Belas says he is in talks with 2 or 3 developers.
An inspector, who was examining the property for one of those interested developers said one of the buildings is in bad shape and will need to be completely torn down. The others have fared much better -- although there is still broken windows and water damage.
Belas says he hopes to have a deal wrapped up in the next few weeks.
That is a relief for Ehman who at this point, would just like to see something happen.
"Its there and you just put up with it. Just like old age," she says as she laughs.
Belcorp's owner says the developers are interested in either single family condo units or student housing. But it the land is zoned for single family units.