A different developer is looking to breathe new life into the 200-acre parcel at Mississippi Street and U.S. 30 in Hobart that was once the proposed site of the failed Silverstone project.
Schererville businessman Al Krygier confirmed Thursday he is looking into developing the land and will be appearing before the Hobart Plan Commission on April 7 to discuss his proposal.
“I see some good opportunities there,” said Krygier, who added his proposal will be “completely different” from the one proposed by former owners Diamond Veil Development and B-3 Properties.
The previous developers had laid out an ambitious plan for the area just north of the Hilton Garden Inn, which would have included a hotel, convention center, sports complex, retail and some residential. B-3 Properties later filed for bankruptcy in U.S. Bankruptcy Court Northern District of Indiana and the property was put up for auction.
Krygier said there may be an entertainment component in his plans, but ruled out retail.
“This has different pods of ideas,” Krygier said, but would not elaborate further, saying he would reveal more Thursday evening.
He said he is working with another person, whom he did not name, on the project.
Hobart Councilman Jerry Herzog, D-1st, said council members received an e-mail from Krygier saying he would be at Thursday’s meeting with a proposal for the property.
“We’re all hoping for the best right now,” Herzog said.
Krygier’s proposal comes just as a three-year extension that was granted by the City Council and Board of Public Works and Safety for a portion of the project comes to an end. The extension was granted in March 2013.
It also comes one month after the Board of Works gave the owners of a row of dilapidated houses along Mississippi Street, in the footpath of the project, 30 days to raze the houses or come back to the board with a contract for the work.
City officials said at the time that the houses have drawn almost daily complaints.
Krygier said his project would be done in phases, with work on an initial stage possibly starting this summer.
“Most of the site is ready,” he said.
About $6 million in site improvements were made on the property through a Lake County tax increment financing district.
Karen Caffarini is a freelance reporter for the Post-Tribune.
