News release from Great Lakes Capital and the Bradley Company:
Great Lakes Capital and Bradley Company officially open Skyline Tower
(August 30, 2018) – Great Lakes Capital and Bradley Company, along with Fort Wayne Mayor Tom Henry, officially cut the ribbon today to open Skyline Tower, a $42 million mixed-used development in the heart of downtown.
Located at 855 Webster St., Skyline Tower rises 12 floors above its downtown neighborhood and features 123 distinctive apartments, as well as 30,000 square feet of commercial space. The first floor is home to Ruth’s Chris Steakhouse, while the second floor is the regional headquarters of First Merchants Bank.
A unique public-private partnership made Skyline Tower possible. The development was the first to be approved for matching funds through the Regional Cities Initiative, resulting in a $2.8 million investment. Additional support came from the IEDC’s Community Revitalization Enhancement District (CReED) tax credit, federal New Markets Tax Credits, the City of Fort Wayne’s community and economic development arms, and private investment. Old National Bank was the lead financial partner with collaboration from Lake City Bank and Salin Bank. All three of the private lending partners are Indiana owned and operated.
“The Skyline Tower is a perfect example of what’s possible when you bring together state, regional and community leaders,” Gov. Eric Holcomb said. “Because of this collaboration, we can better support economic opportunities that will allow us to take Fort Wayne and the surrounding areas to the next level.”
The completion of Skyline Tower also marks downtown Fort Wayne’s ongoing evolution as an emerging housing market where residents can live, work, and play. This aspect of community building and place making is attracting a diverse mix of residents to Skyline Tower, with approximately 60 percent of the apartments already pre-leased.
“The Skyline Tower mixed-use development is a tremendous addition to our growing and thriving downtown,” said Mayor Tom Henry. “Public-private partnerships at the state and local levels have resulted in a project that will have a lasting and meaningful impact on our community and region. Skyline Tower is another example of how we’ve positioned Fort Wayne as a leader in providing live, work, and play opportunities for individuals, families, and businesses.”
A host of amenities welcome Skyline Tower residents home, including picturesque views from balconies and oversized windows, LVT plank flooring, and stainless-steel appliances. The rooftop park is believed to be the largest elevated greenspace in Indiana. Locally based Wiegand Construction was the construction partner.
Skyline Tower was developed by Great Lakes Capital, which is working with Bradley Company to provide exceptional on-site management services to Skyline Tower’s residents and commercial tenants. Bradley Company is a Midwest region full-service commercial real estate firm with expertise in leasing and management of retail and office space, as well as multi-family housing.
“The addition of Skyline Tower brings more than just new apartments, new commercial tenants, and new jobs to downtown Fort Wayne,” said Brad Toothaker, president and CEO of Bradley Company and managing partner of Great Lakes Capital. “It represents how collaboration at all levels can create transformative results that positively impact communities. We are grateful to our partners for giving us the opportunity to redevelop this key corridor and look forward to being a part of downtown’s continued renaissance.”
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