FORT WAYNE, Ind. (WANE) – The old Oak River Apartments nearly sit empty right now, but over the coming months they will be transformed into a modernized complex.
Now under new ownership, the complex will undergo $4 million in renovations over the next 30 months. Representatives Alyssa and Beau Schendel shared that they were inspired to capitalize on the momentum of other major projects happening around downtown.
“It just felt right,” said Beau Schendel, “This place was owned by out-of-state investors, and it’s been neglected for years. For us to come in here, I felt like the opportunity was right.”
The 103-unit complex will be rebranded as the “RIV on the Greenway.” The Schendel’s also shared that they have partnered with a local leasing agency and local suppliers to help with the multi-million dollar renovation project and better cater to future tenants.
Once completed, the RIV on the Greenway aims to create a lively experience by taking advantage of the complex’s location near the St. Joe’s River. Ownership also hopes to attract those who are seeking a downtown experience while being more affordable.
“We would love to bring in some live music here,” Alyssa Schendel shared. “We would love to feature the bicycling here on the river greenway, the walking, and just kind of having an outdoor, active environment, but also come inside and having a fresh, new appeal to a lot of people.”
While renovations are underway, the first two buildings are expected to be ready for tenants by early Fall 2021.