1st Source Bank recently participated in the ribbon cutting for the Historic Rushton Apartments in South Bend.
Renovation began less than a year ago on the Rushton building, known as South Bend’s first "skyscraper". This past week, the building opened in its new iteration as Historic Rushton Apartments, offering 23 newly refurbished studio, one and two bedroom apartments for seniors 55 and older.
Legend has it that South Bend developer John Rush visited New York City around the turn of the twentieth century and was so impressed with the city’s "skyscrapers" that upon returning home he built the Rushton, South Bend’s first multi-story apartment building. Completed in 1906, its high quality appointments attracted real estate agents, clerks, managers, lawyers and teachers to its 35 apartments.
Developed by South Bend Heritage, 1st Source was glad to be a financing partner of the project along with Great Lakes Capital Fund and the Indiana Housing and Community Development Authority.
"1st Source Bank is honored to be a part of the Rushton project that has such historical significance for our city," said Jim Seitz, 1st Source President. "Not only is this project restoring an important downtown building and helping to revitalize the area, but it is providing much needed affordable housing in our area."