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Kite realty livingston commons8/12/2023 “We are deeply grateful to the Kite team for their tireless efforts in helping us bring Trader Joe’s to the region.” “Kite Realty Group has been a wonderful partner since 2005, developing Eddy Street Commons in a manner consistent with the University’s vision to revitalize the Northeast Neighborhood and at the same time create a ‘college town’ adjacent to our campus,” Cullinan said. Construction of the new grocery store is underway with an opening date to be announced in the future. Trader Joe’s will anchor the south end of Eddy Street Commons and provide what focus groups over the years have said was most desired in the development - a small-format, specialty grocer, and specifically Trader Joe’s. The two phases combined represent a nearly $300 million investment in the Northeast Neighborhood. Phase II, from Napoleon to Howard Street, features new quarters for the Robinson Community Learning Center, an educational initiative of the University in partnership with the Northeast Neighborhood approximately 450 apartment units 8,500 square feet of restaurant space a dog park and additional green space. Phase I of Eddy Street Commons, extending from Angela Boulevard to Napoleon Street, opened in late 2009 and includes 170,000 square feet of retail, restaurant and office space, 266 apartments, 123 condominiums, 78 row/townhouses, Fairfield Inn & Suites and Embassy Suites hotels, and a parking garage. We want to thank Trader Joe’s, the City of South Bend and Notre Dame for making this partnership a reality.” “Over the past 15 years, Eddy Street Commons has grown with South Bend and the University, and the arrival of Trader Joe’s is a crowning addition to the neighborhood and development. “We are thrilled about the impending arrival of Trader Joe’s and what it will mean for the community,” said Tom McGowan, president and chief operating officer of Kite Realty Group. Notre Dame has partnered with Kite Realty Group Trust (NYSE: KRG) of Indianapolis for 15 years to create Eddy Street Commons (ESC), a mixed-use, new-urbanist, pedestrian-oriented development that extends for three blocks south of the campus. We are confident that this key addition to Eddy Street Commons will be a wonderful resource in many ways for both the campus and broader communities.” “This vision has been realized with Trader Joe’s, a truly iconic brand in America. “Ever since Notre Dame’s leadership and our partners in the Northeast Neighborhood began to envision a lively retail, residential and restaurant district adjacent to campus, the hope was that a grocery store would be an anchor business,” University Executive Vice President Shannon Cullinan said. We believe that the value we consistently create and deliver is one of the attributes most admired by our varied constituency, consumers who shop in our centers, retailers who lease our properties, loyal shareholders who rely on our expertise, our business partners and the talented employees who are the face of Acadia.The University of Notre Dame and Kite Realty Group Trust announced today that Trader Joe’s will open a new grocery store in South Bend, a half-mile south of the University campus at the Notre Dame-inspired Eddy Street Commons. We wait patiently for the right opportunities to present themselves and make strategic decisions that are driven by our commitment to sustain growth over the long term. The very nature of our business is long-term, with horizons measured in years, not quarters. We execute our strategy by focusing on four key business strengths: enhancing our core portfolio, maintaining a strong balance sheet, launching profitable external growth initiatives, and energizing the Acadia Team. We attribute our success to our unique business model and to our uncompromising commitment to three core attributes: 1 WE STAY FOCUSED With integrity, intensity, intelligence and innovation we have built an environment that encourages our employees to step out of their comfort zones and work creatively, helping to make us, and not just our portfolio, best-in-class. We humbly appreciate that our ability to achieve the high standards we set for ourselves can only be accomplished by curating a diverse team of top talent who believe and encompass the same values and business ethics that Acadia stands for. At the same time, we manage opportunistic and value-add investments through our series of discretionary, institutional funds. Our energized team is accomplishing this goal by building a best-in-class, location-driven core real estate portfolio with meaningful concentrations of assets in the nation’s most dynamic urban and street-retail corridors, including those in New York, Chicago, Los Angeles, San Francisco, Washington DC, and Boston.
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