Erskine Village on Ireland Road in South Bend was offered at a sheriff’s sale Thursday. Loan provider U.S. Bank has assumed full control of the property. Tribune Photo/SANTIAGO FLORES
When Erskine Village was announced in 2003, then South Bend Mayor Stephen J. Luecke said it would be "on the forefront of mall development."
And as for the original renderings, according to a March 2003 South Bend Tribune report, "pedestrian walkways will be twisting and turning around stores. Park benches will allow shoppers to eat lunch or read a book outside, according to city officials working on the project."
"This will be a village so it's not an in-and-out transaction; you can enjoy your experience," Bill Schalliol, then economic development planner for South Bend, told The Tribune in 2003.
Village may be in its name, but looking at the site today, can you say the development looks like a village? Was Erskine Village built to its full potential?
It has been a little more than 10 years since the shopping center was completed, so this question could have been asked then. But the future of Erskine Village is now up in the air after its former owner, Ohio-based Schottenstein Property Group, defaulted on its 10-year loan.
The south-side South Bend shopping plaza was placed into receivership in August after Schottenstein continued to fall behind in payments, and on Thursday it was offered at a sheriff's sale in the County-City Building with a $26 million judgment against it.
As expected, there were no outside bidders and the loan provider, U.S. Bank, submitted a bid for a little more than $23 million. The bank now has full ownership and control of Erskine Village.
Copyright © 2024, South Bend Tribune