The Lakes of Valparaiso luxury apartment and business park development is about to become a reality with a groundbreaking on August 13. The 146-acre development is located on the east side of Ind. 49 between Evans Avenue and Vale Park Road. “The city is looking forward to this quality development and the shovel-ready business sites that will be included,” said Mayor Jon Costas. “The project represents a significant investment in Valparaiso’s future and we’re delighted that it is proceeding on schedule.” When complete, The Lakes of Valparaiso will include 408 luxury apartments, plus 90 acres of business park and commercial area.
“Valparaiso is one of the finest communities not just in northern Indiana, but in the entire Chicago area. We have a quality education base, a brand new hospital, diverse employment, and a wonderful place to live and work,” said Don Weiss, developer of The Lakes of Valparaiso. “We’re pleased to be locating in such a premiere community.”
“The Lakes of Valparaiso Business Park will be excellent for economic development,” said Patrick Lyp, Valparaiso’s economic development director. “The shovel-ready park gives the city just what incoming and expanding businesses are looking for in a location for commercial growth.”
Weiss is investing $50 million in the luxury apartments at Lakes of Valparaiso. The business park portion of the development represents another $50+ million in private investment potential. The Weiss family has been in business in Valparaiso for many years, and became a household name from 1979 to 2012 as owners of the WiseWay grocery chain.
“The Lakes of Valparaiso will provide a category of housing not currently available in the area – appealing to those who don’t wish to own a home, but are looking for high-end amenities like stainless steel appliances, granite countertops, their own connected parking, and a country-club quality clubhouse,” Weiss said. “Similarly, the business park will provide users with a number of advantages including excellent access and visibility, design flexibility and state-of- the-art, technology-enabled infrastructure.”
This past spring, the city of Valparaiso annexed the 32 acres that will make up the business park portion on the north end of the Lakes of Valparaiso project. The city will also extend Memorial Drive, the main artery through The Lakes of Valparaiso and install high-speed fiber optic as part of the project. The high-speed fiber optic has been designed to be the most reliable and secure, originating from a single carrier without hops or interruptions. Valparaiso’s Redevelopment Commission will fund the infrastructure improvements.
Weiss expects to be ready for occupants – both residents and businesses in 2015.The Lakes of Valparaiso is going to great lengths to preserve the natural environment of the property, even maintaining a 4.5 acre old growth forest in the middle of the development. The development will also include more than a mile of pedestrian and bicycle paths, which will connect to the city’s existing pathway system at Vale Park Road.