South Bend Approves Colfax Corner Project and Downtown Innovation Development District

The long-awaited Colfax Corner project and a new downtown tax tool get the green light from city officials.

Published on Feb. 16, 2026

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The South Bend Redevelopment Commission has approved the Colfax Corner project, a major development led by the University of Notre Dame and investment firm Ancora that will transform the former Tribune building and surrounding area into a tech and talent hub. The commission also approved the creation of a downtown Innovation Development District (IDD), which will allow the city to retain state sales and income tax revenue to support transformative projects like Colfax Corner.

Why it matters

The Colfax Corner project is a key part of South Bend's broader Downtown 2045 Plan, aimed at revitalizing the city's urban core. The new IDD tax tool gives the city more flexibility to fund major development initiatives and retain tax revenue locally, rather than sending it to the state. These moves are seen as critical steps in making South Bend a more attractive place to live, work and invest.

The details

The Redevelopment Commission gave final approval to the Colfax Corner project, which will redevelop the former Tribune building and surrounding Main Street area. The project is led by Notre Dame and Ancora. The commission also approved the creation of an Innovation Development District (IDD) downtown, which will allow the city to retain up to $15 million per year in state sales and income tax revenue over the next 30 years to support transformative projects like Colfax Corner.

  • The Redevelopment Commission approved the Colfax Corner project and IDD at its February 12, 2026 meeting.
  • The IDD designation date is set for March 15, 2026, starting its 30-year lifespan.
  • Construction on the Colfax Corner project is anticipated to be completed by summer 2028.

The players

University of Notre Dame

A private Catholic university and the lead partner on the Colfax Corner project.

Ancora

An investment management firm that is partnering with Notre Dame on the Colfax Corner project.

South Bend Redevelopment Commission

The city agency that gave final approval to the Colfax Corner project and the new downtown Innovation Development District.

Caleb Bauer

The South Bend Community Investment Executive Director who provided details on the IDD.

Canneth Lee

The South Bend Common Council President who expressed support for the transformative nature of these projects.

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What they’re saying

“The Innovation Development District captures state sales and income tax and allows it to be retained within this geography. An exciting tool that the state has made available to us and one that will allow us to support transformative projects in the downtown like the Colfax Corner project.”

— Caleb Bauer, South Bend Community Investment Executive Director (southbendtribune.com)

“These are the things that 20 years from now we'll look back and see that we made a difference. Those are the things [that's] going to make South Bend be a place where everybody wants to live, and that's why we're here, to see those opportunities come to pass.”

— Canneth Lee, South Bend Common Council President (southbendtribune.com)

What’s next

Bond closing for the Colfax Corner project is expected to take place over the next few months, with construction anticipated to be completed by summer 2028.

The takeaway

The approval of the Colfax Corner project and the new downtown Innovation Development District represent significant steps in South Bend's efforts to revitalize its urban core and make the city a more attractive destination for businesses, residents and visitors. These initiatives demonstrate the city's commitment to leveraging public-private partnerships and innovative financing tools to drive transformative development.