Today, the City of Fort Wayne’s Community Development Division announced that a developer familiar with Fort Wayne will invest in another private development project next to Promenade Park in the area known as the wedge.
City of Fort Wayne news release:
Developer selected for the “The Wedge” at Promenade Park
Fort Wayne, Indiana (March 25, 2022) – The City of Fort Wayne’s Community Development Division announced today a developer that has become familiar to Fort Wayne will invest in another private development project next to Promenade Park.
Indianapolis-based Barrett & Stokely, Inc. plans to construct a mixed-use project that would sit on the 2.28-acre site known as “The Wedge.” The site is located northwest of Promenade Park on the north side of the Saint Marys River and connected to the park by the old Wells Street Bridge.
The $51 million development will include apartments and townhomes along with retail space, outdoor dining and parking.
“Barrett & Stokely continues to be a trusted partner in bringing unique and innovative projects to our community,” said Mayor Tom Henry. “It’s encouraging to see so much momentum and excitement in Fort Wayne. There’s no question it’s a great time to be part of what we’re building in our award-winning City.”
Barrett & Stokely, Inc. will begin discussions with the Department of Redevelopment on an economic development agreement for the proposed project with construction expected to begin in 2023 pending approvals.
“Barrett & Stokely have been great partners with the City and we are thrilled that they want to continue to invest in Fort Wayne,” said Jonathan Leist, Deputy Director of Redevelopment. “They have proven their ability to design and deliver high-quality projects that add to the fabric of our Riverfront. We look forward to the completion of another stunning addition to our City in partnership with Barrett & Stokely.”
“We are looking forward to partnering with the city on another development project and are proud to be trusted partners,” said Nick Barrett, Principal of Barrett & Stokely, Inc. “We believe our common vision for The Wedge will be key in the continued transformation of the riverfront and Promenade Park. It is another big step in downtown revitalization.”
The City has worked closely with Barrett & Stokely on other mixed-use development projects including The Riverfront at Promenade Park and The Lofts at Headwaters Park.