Mayor's reaction to New York developer buying the Chase Tower debt


Some movement has started on the building that graces South Bend's skyline, even if it has become somewhat of a scene spoiler over the years.

A New York developer recently bought the debt on the Chase Tower from Huntington Bank.

Mayor Pete Buttigieg explains what the sale of the bank note means to the city.

He says banks are very clever at finding ways not to take the responsibility for the buildings they control, which is what happened to Chase.

And while it remains to be seen what the new debt owner plans to do, sell it for a higher price or fix the building, the Mayor says, while not the city's job to bail the bank out, it also doesn't want to see Chase fail.

“We do make it clear that the city is willing to get involved, maybe even commit some funds, limited funds, to improve the building so to get this back up and running because this whole city if better off when a landmark building like that is fully occupied and productive,” explains South Bend Mayor Pete Buttigieg.

The Mayor's Office is still gathering information on what the sale of the note ultimately will mean for Chase.


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