Overview

Kenmara (the “Project”) is a phased, master-planned commercial development on a 59.0-acre site in Munster, Indiana, formerly the Indiana portion of the Lansing County Club. The project will include 720,000 sq.ft. of commercial space designed for healthcare and business commerce. At stabilization, the Project will exceed $200 million in value and will house approximately 2,700 employees. READI funding will be used for Phase I Infrastructure, breaking break ground in 4Q22, including roadways, site utilities, and open space buffering with 1.2 miles of new greenways in roadway rights-of-way, and over 3.0 acres of new parks. All improvements lie within Munster’s Transit Development District boundary and are within walking distance to the NICTD Munster-Ridge Station. Saxon owns the site and will finance the development with internal private capital supplemented by Town of Munster TIF financing under a proposed Development Agreement. Total capital investment will exceed $160 million; infrastructure investment is estimated at $31.7 million. The 25-year projected tax increment for the Project exceeds $82 million. A critical design feature is minimizing carbon footprint. Phase 1 includes extensive greenway systems connecting to NICTD rail stations and linking area neighborhoods to Calumet Avenue businesses and healthcare facilities, thereby minimizing automobile traffic by encouraging walking and bicycling. A new stormwater detention lake will accept and hold roadway runoff prior to discharge into local lakes and streams. Phase I design work includes a net-zero approach to drive Phase 2 building architecture, including an initiative with NIPSCO to promote renewable energy development, energy efficiency, and cogeneration.