South Bend’s Redevelopment Commission has pledged financial support for the development of Colfax Corner, a new research and innovation hub led by Ancora in collaboration with the University of Notre Dame.
The city’s financial support comes through an Innovation Development District bond, which will be repaid by incremental tax revenue generated by the project. The IDD is a partnership between the City of South Bend and the State of Indiana that aims to attract additional jobs and investment into the community.
Colfax Corner represents the first phase of the DTSB Tech and Talent District. It was envisioned by the Downtown 2045 Plan to serve as a catalyst for broader revitalization activities.
The project will feature a restored South Bend Tribune building and an adjoining research and office facility. The two will be linked on the second floor, and together frame an outdoor public plaza designed for events, pop-up programming and everyday use. Vertical construction is anticipated to begin in summer 2026, with completion expected by summer 2028.
By locating over 400 high-tech jobs to downtown South Bend and engaging the community in programming and events, Colfax Corner aims to spark renewed energy in the city, with a projected $750 million direct impact to the local economy over the next 10 years.
“This project shows what’s possible when a university, private partners and a city pull in the same direction — innovation speeds up, talent sticks and opportunity widens for South Bend,” said Josh Parker, Ancora chairman and CEO, in a press release.
Ancora is an investment management firm that partners with universities to deliver projects that support academic, research and community goals. Ancora is the development, construction, asset and property manager for the project.
Colfax Corner is the product of cross-sector collaboration among Notre Dame, Ancora, the City of South Bend, the State of Indiana, Lilly Endowment and the Judd Leighton Foundation. The announcement follows a $30 million grant from Lilly Endowment through its College and Community Collaboration program, aimed at fueling job creation, economic growth and improved quality of life in Indiana’s college towns.
“We are proud to partner with Ancora and the University of Notre Dame on this transformative investment in the heart of South Bend,” South Bend Mayor James Mueller said. “This game-changing project will not only reshape the landscape of our downtown but also catalyze shared growth in our community.”
