FORT WAYNE, Ind. (WANE) – With a groundbreaking ceremony that included Mayor Tom Henry and other city officials, construction officially began on a mixed-use development on Fort Wayne’s southeast side.
The Village Premier project is being built on a 22-acre site near the intersection of South Anthony Boulevard and McKinnie Avenue and will include affordable housing as well as amenities such as childcare, a health clinic and commercial space, city officials said in a media release.
The project received funding from City Council at Tuesday night’s meeting after a resolution detailing bonds that are not to exceed $4.5 million in principle were introduced, discussed and placed on passage with a 7-2 vote.
Only councilmembers Jason Arp and Paul Ensley voted against the resolution.
“We are excited to begin Phase I construction of Village Premier, and we look forward to the completion of the full project,” said Deputy Director of Redevelopment Jonathan Leist. “The new amenities will improve the quality of life in our existing neighborhoods while also attracting new private investment in southeast Fort Wayne.”
Community Development’s Office of Housing and Neighborhood Services is investing $500,000 in federal funds to create 208 units of affordable housing as part of Phase 1. There will also be nine market rate single-family homes as part of the phase.
Housing and Neighborhood Services also used $2.1 million in Community Development Block Grant and Neighborhood Stabilization Program funds to acquire the property and prepare a shovel-ready site for the project.
The development is led by House Investments, an Indianapolis-area developer, in partnership with Fort Wayne-based companies MKM Architecture and Michael Kinder & Sons.
Future phases senior and income-based housing options along with the childcare, a health clinic, and commercial spaces.
Phase I of Village Premier is expected to be finished in June 2024.
Village Premier was awarded $5 million in funding through the State of Indiana’s Regional Economic Acceleration and Development Initiative (READI) program. Additional funding through a $3.3 million economic development bond will be repaid from tax increment generated by the project and by the Tillman-Anthony TIF district. Phase I has an estimated total project investment of approximately $45 million. Once the project is complete, there will be an anticipated total investment of $65 million over three phases.
“I’m enthusiastic about what we’re seeing take place in southeast Fort Wayne,” said Mayor Henry. “We’re looking forward to partnering with House Investments as we work together to make a lasting and meaningful difference. Village Premier is going to be an outstanding project for our community.”
Launched by Governor Eric Holcomb and led by the Indiana Economic Development Corporation (IEDC), READI encourages regional collaboration and data-driven, long-term planning that will attract and retain talent in Indiana.