A view of the planned plaza alongside Center Lake.

WARSAW — The Indiana Economic Development Corporation has approved Regional Cities Initiative funding for three projects in Northeast Indiana, including the North Buffalo Street development in Warsaw.

The North Buffalo Street development in Warsaw will receive $3.5 million. The Buffalo Street project will combine urban housing and mixed-use development within one comprehensive redevelopment project located close to the downtown area and Central Park. When completed, 52 various residences, a multi-use building, a community plaza, $546,000 in annual tax returns and 85-90 new jobs will be added to Warsaw.

“This project represents a true public-private partnership that will fill an unmet housing need for our professional workforce and generate new property tax revenue for our community,” Warsaw Mayor Joe Thallemer said in a statement.

Dave Matthews, an urban developer from South Bend with Matthew LLC is investing over 20 million dollars into the project by creating the housing developments. The residences will include townhomes, city homes and mews along both sides of North Buffalo Street between Fort Wayne Street and the city park property of Center Lake.

The project will take place in multiple phases. Most of the work will be finished within four years, but the total project will be done within ten years.

“The purpose of the Regional Cities Initiative is to encourage communities to collaborate and plan regionally for their future and attract and retain talent,” said Indiana Secretary of Commerce Jim Schellinger. “These three projects offer something for everyone in northeast Indiana – urban housing, workforce and business development and health and wellness. I look forward to witnessing the positive impact these projects will have on their communities and the state as a whole.”

The other two projects are The Enterprise Center in Steuben County and the South Adams Trails.

A view of the Buffalo Street Redevelopment project shows the proposed urban housing development with 10 city homes, 17 townhouses and 26 mews as part of phase 1. Phase 2 is the creation of a mixed-use building for retail/eateries, office and residential space at the former Indiana American Water property.