Following a Tuesday groundbreaking celebration on the hilltop site that formerly housed Duluth Central High School, construction is now underway on the $500 million Incline Village housing and retail development, one of the largest such projects in the city’s history.
Longtime, New York-based developer Luzy Ostreicher, who is leading the project, said today that everything is on schedule for the planned Spring 2026 opening of the initial phase of Incline Village, a 70-unit condominium development. Incline will ultimately include 120 condominiums, 1,180 apartments and retail space.
Ostreicher reiterated that all funding is in place and secure for Incline Village, a project that is separate from others with which he and his large family are involved. One of those developments, Endi Plaza at 2120 London Road in eastern Duluth, recently filed what’s described as a strategic bankruptcy, not a financial bankruptcy, as a step in a process when legal disagreements need to be worked out.
Neither Ostreicher nor anyone else involved with Incline Village filed for bankruptcy or are party to the legal proceedings. Incline Village assets are not at risk or involved.
“The reality of large development projects is that they often come with disagreements along the way. Then all sides eventually come together and these matters get resolved,” said Ostreicher. “That’s the case with Endi. This will be settled in the near future. But nothing related to those interactions has any bearing whatsoever on Incline Village.”
Ostreicher added that contractors, consultants and everyone else involved with Incline Village construction have been and continue to be paid on schedule. No government funding is at risk, either, as that comes only when the project meets its contractual obligations.
