FORT WAYNE, Ind. (WANE) - Ruoff Home Mortgage plans to build a new office building in downtown Fort Wayne to house its corporate headquarters, NewsChannel 15 has learned.
The Fort Wayne-based home lender is currently in talks with the city to purchase land at the southwest corner of Jefferson Boulevard and Ewing Street, near Parkview Field and the Cityscape Flats residential complex. Ruoff plans to build an 8-story, 97,000 square foot building at the site, with a parking garage and street-level space for retail shops, company officials confirmed to NewsChannel 15.
The project is expected to cost an estimated $32 million.
"We've got the office building pretty well resolved," said CEO Mark Music. "We are hopeful. But we still have some details with the city to still work out. We are deep in discussion right now and hopeful in the next few weeks we'll have a plan that would allow us to begin turning dirt."
Music said the they are still working with the city to resolve financing for the parking garage.
The building will house corporate office employees, of which Ruoff currently employs roughly 150. That figure could rise to as many as 300 after the development is realized, company spokeswoman Kim Murphy said.
Ruoff will keep its local lending centers on Dupont Road and at Pointe Inverness, according to Murphy. Ruoff's corporate office is currently in an office space at 1700 Magnavox Way, off Illinois Road.
"Every time that a project is completed [downtown] it makes it a little easier for the next folks to come behind," said Music. "Take the Ash project for example. That made it much easier for me to visualize what it would be like to move our headquarters down there."
It's not clear yet when Ruoff plans to break ground on the building or when it will be complete. Music said the plans are tentative.
Ruoff Home Mortgage has made a name for itself within the last year after it sponsored the winning car of the Indianapolis 500 and won the naming rights to the popular Noblesville concert center. Ruoff will sponsor Team Andretti's Carlos Munoz car in this year's Indianapolis 500.
NewsChannel 15 is working to learn more about this planned development. This story will be updated.