FORT WAYNE, Ind. (WANE) — Living up to its name, Ambassador Enterprises has offered to work with Fort Wayne to develop the Electric Works project.
Ambassador Enterprises is a Fort Wayne “legacy-minded private equity firm” that includes a full-service real estate development company.
In a September 14 letter, Ambassador executive Ronald Turpin tells Mayor Tom Henry they are interested in “collaboratively working with the city and other strategic partners in developing a financially responsible and economically sustainable plan for Electric Works.”
Of course, neither the city nor Ambassador owns the former General Electric campus on Broadway and would need to find agreement with RTM Ventures for a win-win-win deal.
Turpin confirms he sent the letter but would offer no additional comment. The mayor’s office sent a response that did not mention Ambassador specifically. RTM Ventures declined to comment.
Ambassador also suggests they could save money on the project, an apparent goal of the mayor, but did not include specifics.
“Given our cost-efficient model and legacy-mindset along with the resources available to us, we anticipate that millions of dollars will be saved from current projected costs,” Turpin writes.
The letter points out this would not be the first time Ambassador has served as a community partner.
“If all parties work together with a legacy mindset and for the common good, we believe what has been done with the old Taylor University Campus (now known as ‘The Summit’) can be done with the former GE campus.”
The full statement from Mayor Henry’s office:
Mayor Henry is encouraged by the interest being shown by developers and local business leaders. We’re focused on finding a path for a successful redevelopment project that protects taxpayers and is viable now and in the future. It’s also vital to keep Do it Best as a corporate partner with good jobs in our community as part of the efforts to redevelop the former GE campus. The Mayor has been providing leadership throughout this process. The Mayor and members of his leadership team are currently looking at multiple options and continue to talk with business and community leaders to get feedback on possible next steps moving forward. Those discussions have been ongoing for a number of weeks since the cancellation of the Electric Works economic development agreement.Mayor Henry spokesman John Perlich