Developers and community leaders pondered the value of the Electric Works project in the changing Fort Wayne landscape.
In a presentation Thursday morning, a representative from RCLCO revealed results of a market study, requested by developers of the project.
According to the study, there is a demand for 700 new apartments to be built downtown in the next five years. It also suggests a need for 270,000 square feet of new office space and 110,000 square feet in the same time frame. Electric Works could support some of that demand.
“People are maybe sitting on the sidelines thinking ‘well is this going to happen? Is it not?,” Developer Kevan Biggs explained. “Getting this kind of confidence from the report, knowing that our community leaders are hearing this and understanding that this is a really big need in the community helps accelerate those conversations along.”
NewsChannel 15 checked in with the mayor’s office after the information was revealed. The mayor continues to support the project, while acknowledging a lot of work needs done.
“Overall, we view the report as complimentary to Fort Wayne’s current status and speaks to the momentum and investments we’re experiencing in Fort Wayne,” City Spokesman John Perlich said.