Mayor Henry announces $27 million downtown residential development project

slparker67

10 years ago

News release from the City of Fort Wayne:

Mayor Henry announces $27 million downtown residential development project

(January 15, 2015) – Fort Wayne Mayor Tom Henry today announced the City of Fort Wayne and Domo Development, LLC, based in Indianapolis, have reached a Memorandum of Understanding (MOU) for a $27 million downtown residential development across from Parkview Field in downtown Fort Wayne.

The project, Cityscape Flats, will feature apartments, row houses, parking garage, and streetscape improvements. The 3.59 acre area is bordered by Ewing Street on the east, Fairfield Avenue on the west, West Jefferson Boulevard on the north, and Brackenridge Street on the south.

Project highlights:

167 unit multi-family complex consisting of studio, one bedroom, and two bedroom apartments

8 row houses

177 space parking garage

The development will be $20 million in private investment, with the City’s investment being up to $7 million. The City’s participation will include the parking garage and streetscape work and will come from existing tax increment financing (TIF) funds and tax phase-in. No property taxes would be used to fund the City’s portion of the project.

“I continue to be encouraged by the unprecedented growth and development taking place in the heart of our City,” said Mayor Henry. “We’re committed to meeting the high demand for downtown housing options. The City of Fort Wayne is moving in the right direction as we invest in the future and enhance economic and quality of life opportunities.”

Sunstone Construction will manage the construction process. Design Collaborative will serve as the architect on the project. It’s anticipated that construction will begin this spring.

Domo recently completed a 264-unit residential complex, Steeplechase at Parkview, in the area of Diebold and Dupont roads.

The Fort Wayne Redevelopment Commission will take formal action on the approval of the MOU at its next meeting, which will be held at 4 p.m. on Tuesday, Jan. 20 in Room 030 at Citizens Square, 200 E. Berry St.