FORT WAYNE, Ind. (WANE) – A new mixed-use development is planned near Fort Wayne’s riverfront, just east of Promenade Park according to an announcement Wednesday morning by city officials.
The building, offering commercial space, office space, apartments and a parking garage would be located at the northeast corner of Harrison and Superior just south of the St. Marys River, if the plans clear the approval process.
The more than $70 million project is slated to include 225 apartments, a 900 space parking garage, along with 30,000 square feet of office space, nearly 15,000 square feet of retail space and another 15,000 spare feet of flex space. Construction is expected to being in late 2019 or early 2020 with completion expected a year and a half after that.
At Wednesday’s news conference announcing the development, city officials said Barrett & Stokely, an Indianapolis-based company, was chosen from among a group of five deveopers that submitted requests for proposals (RFP). A selection committee comprised of Redevelopment Commissioners, City of Fort Wayne staff, Capital Improvement Board representative, a representative from the Allen County Board of Commissioners, and a representative from Land Collective, the consultant team leading the Riverfront Implementation Framework, oversaw the RFP process.
“It fits what we do. We are long-term investors in communities. We have other developments that we’ve done over the last 44 years that we’ve been in business, but I can honestly say we’re probably more excited about this than anything we’ve done. And the reason for that is what you see around you and what’s going on in Fort Wayne,” says Rex Barrett, with Barrett & Stokely.
Before the project can move forward, an economic development agreement needs to be reached between Barrett and Stokely and the City of Fort Wayne.
Barrett & Stokely is also working with the City on The Lofts at Headwaters Park, a mixed-use development along Clinton and Superior streets in downtown Fort Wayne that would feature housing, retail, and a parking garage.
This development has been the second project proposed for the piece of land that used to be home to a single-story industrial building. ‘The Hive’ mixed use proposed by Continental Property Group was canceled earlier this year after being announced in 2017. The city has been seeking a new developer since that announcement.
Promenade Park was not only designed to be a centerpiece of development along the St. Marys, it has been a major selling point for the city as planners reach out to private developers across the country. City leaders have had talks in acquiring more land along Superior Street to attract more commercial and residential complexes.
“We look forward to being part of this community for the long term. We are not developer that builds stuff, sells it, and moves to the next site. Most of the things we own we’ve owned for over 20 years. And we look forward to this site. It’s an iconic building that’s designed, I think it will be a great statement next to Promenade Park,” says Barrett.