An Indianapolis-based construction company plans to invest $80 million in the redevelopment of the historic Palace Theatre, billed as the largest investment in downtown Gary in the past 50 years.
BWI Construction, which has built a variety of residential projects in Indianapolis and central Indiana, plans to build 251 homes and preserve the facades of the historic buildings on the city block along Broadway. The company is calling the redevelopment project “The Palace Lofts,” and it will have commercial space on the first floor and residential units on the second floor.
“This is an exciting time for the City of Gary, as we are seeing an unprecedented level of interest from local and national developers from around the country,” said Gary Mayor Eddie Melton. “As Mayor, I will continue to work collaboratively with the Redevelopment Commission and be transparent in exploring opportunities to revitalize our city and serve the community. Redeveloping historic buildings like the Palace Theatre helps our city move forward and grow. While this project is still in its early stages, we are committed to maintaining our connection to the community as we move forward.”
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Gary Hobbs, president and CEO of BWI Construction, said he wants to attract entertainment venues, great restaurants and event spaces that will add to the downtown appeal.
“We want something that will be a big draw for people who currently live in Gary, but also bring in people from out of town,” he said.
Prolific movie theater architect John Everson designed an atmospheric movie theater at 791 Broadway, hailed as VU Young’s Million Dollar Wonder Theater when it was built in 1925. With its Kilgen Wonder Organ and ornate Renaissance façade, the 3,000-seat venue was one of Northwest Indiana’s grandest movie theaters until it closed in 1972 after years of decline.
The Gehry Redevelopment Commission agreed to sell the historic building at 8th Street and Broadway to BWI Construction for $2,500. Gehry Redevelopment Executive Director Christopher Harris said that was the only appraisal given the building’s dilapidated state.
“Three generations of Gary residents have seen the inside of this building,” he said, “It hasn’t been used for the last 50 or 60 years and has been vacant for over 50 years. Like most buildings that have been vacant for over 10 years, there were problems with the roof, asbestos, lead paint and other issues that need to be addressed before it can be demolished. Hazardous materials need to be removed before it can be demolished.”
Developers are considering preserving the building’s exterior and possibly its signage along Broadway, but the building itself is beyond repair, Harris said.
“Salvage dealers have gutted the interior,” he said. “Unfortunately, the exterior of the building is empty. As a grassroots Gary historian myself, it saddens me to see the condition of the building. My great-grandparents moved here and watched movies there. The condition is depressing.”
BWI Construction has also worked on the redevelopment of historic buildings, such as the Wigwam Gymnasium in Anderson.
“We’re looking at investing $80 million into this project,” Hobbs said. “We want it to be successful, and to do that we need to communicate with the public.”
Palace Lofts will provide housing for average families, including teachers, firefighters and police officers.
Much of the building will be demolished, but at least the façade will be adaptively reused.
“We’re strategically trying to attract young professionals to downtown,” he said. “We want to respect the historic nature of the palace.”
Beer Geeks, one of the region’s oldest, best-loved and most influential craft beer bars, is closing after more than a decade in business and reinventing itself as a new concept.
An 88-year-old castle-shaped landmark White Castle in Whiting is set to be demolished to make way for a newer, larger and more modern White Castle restaurant.
A longtime staple in downtown Crown Point has poured its last drink.
Longtime Westforth Sports gun store is closing.
The Silver Line Building Products plant at 16801 Exchange Ave. is closing permanently.
Highland’s Brewfest is closing at what some are calling the “end of an era.”
David’s Bridal has filed for bankruptcy and may close all of its stores if it doesn’t find a buyer to rescue it.
The 88-year-old Whiting White Castle will be remembered by visitors as an exhibit in museums across two states.
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For many years, the “Millionaire’s Club” met every morning in a corner booth at the historic 88-year-old White Castle at the intersection of Indianapolis Boulevard and 119th Street in downtown Whiting. The famous restaurant served its last sliders on Tuesday.
One of Northwest Indiana’s most popular and longest-running hobby shops is looking for a buyer after its longtime owner passed away.
Popular thrift store J&L This N That Consignment Shop has closed in downtown Whiting after several years in business.
Calumet Fisheries, a facility in the Calumet area on Chicago’s south end, has been temporarily closed after failing a city health inspection.
Just days after reopening following a closure by city health inspectors, Calumet Fisheries was hit by a devastating fire.
Pepe’s Mexican Restaurant is no longer in Valparaiso.
Beer Geeks in the Highlands rebranded as B-Side Bar & Lounge and closed within months.
Struggling retailer Bed Bath & Beyond is closing more stores nationwide and permanently closing its Valparaiso store as it seeks to restructure and downsize in an effort to save its struggling business.
Peoples Bank has closed its branch in downtown Hammond.
Viking Artisan Ales will soon be selling its final craft beer at its Merrillville taproom.
Old Chicago Pizza & Taproom is closing after 15 years in business at one of Northwest Indiana’s most famous highway interchanges.
Walmart is closing its big-box store in Homewood.
The Chicago Auto Show, the nation’s largest auto show, returns to McCormick Place on Saturday and runs through Feb. 19.
Munster-based lunch meat giant Land O’Frost is laying off 215 workers in Chicago and closing a plant it bought two years ago.
