FORT WAYNE, Ind. (WANE) – The Fort Wayne City Council approved a $4.5 million agreement with Pepsi to continue redevelopment on the Riverfront area.
According to a news release from The City of Fort Wayne, the Redevelopment Commission’s hope is that the 6.4 acre investment on N. Harrison St. for PepsiCo’s facility will bring more revenue and private investments to the city.
“The Harrison Street property is among the most strategically-located and valuable sites in the community. The site is large enough to accommodate multiple projects, which will bring more people, businesses, and vibrancy to the north side of the river. Redeveloping the site with pedestrian-oriented development will also dramatically improve connectivity between the riverfront, the Wells Street Corridor and the Bloomingdale neighborhood,” said Fort Wayne Mayor Tom Henry.
The funding for the property will come from the Riverside local income tax rate, requiring City Council approval. The Redevelopment Commission will take possession of the 6.4 acres when Pepsi moves to a new $19 million distribution facility near the Fort Wayne International Airport
“Pepsi recognized the opportunity to be a good corporate citizen and maintain our strong presence in Fort Wayne as we have for the past 80 years. We are excited to be able to facilitate the ongoing redevelopment of the riverfront, while retaining all of our existing employees and reinvesting in the community,” said Sean Bishop, Vice President of Sales for PepsiCo Beverages North America North Division.
The project was achieved by the Fort Wayne Community Development Division.
“During our conversations with Pepsi over the past year, it was clear how much they valued being part of the Fort Wayne community and it is demonstrated by their plans to be part of a new large investment that keeps them and their employees here in the city,” said Fort Wayne Community Development Director Nancy Townsend.
Construction of the new Pepsi facility is set to begin summer 2022 and be completed by mid-2023.