The Harrison – Slow Sales

From Today’s News-Sentinel, an article by Kevin Leininger regarding sales of the condo units in The Harrison.  The Harrison is the retail/housing component of the Harrison Square development downtown. 

Some excerpts:

A weak housing market and other complications have slowed the purchase of condominiums in Harrison Square, casting doubt on when construction will begin on the housing and retail section of the downtown project. But Jim Irwin, project development specialist for Barry Real Estate Cos., said he still expects the building to be largely complete by the time the adjacent baseball stadium opens next year, “and we remain 110 percent committed to the project. We are going to do this.”

“There are many factors beyond our control, and we are working our way through them,” said Irwin, noting contracts have been signed on “four or five” of the 62 condos included in the first phase of the $125 million to $160 million Harrison Square project. Construction will not start until more firm contracts are signed – Irwin could not say how many are necessary – but he still expects work to begin this summer.

[…]

“We’re not behind schedule yet, but it’s a vacillating target,” Irwin said. “If it gets any longer, the condos won’t be ready for people to live in by Opening Day,” said Greg Leatherman, the city’s deputy director of development, who said the stadium and adjacent hotel remain on schedule.

[…]

“Any delays will make it that much harder to get people to lease space or buy condos,” said City Councilman Tom Smith, R-1st District.

[…]

Despite the slow pace of firm condo commitments, Irwin said he remains convinced the project ultimately will succeed. “This is going to be terrific for Fort Wayne. There’s no way we’re not going to build this.”

Related Images:

Jim Irwin leads a tour of Parkview Field Fort Wayne Redevelopment Commission at Parkview Field Fort Wayne Redevelopment Commission at Parkview Field 2009/02/27: Fort Wayne Mayor Tom Henry 2009/02/27: Mayor Tom Henry shakes hands with Allen County Councilman Paul Moss 2009/02/27: Fort Wayne City Council President Tom Smith 2009/02/27: Fort Wayne City Councilman Tim Pape 2009/02/27: Allen County Councilman Paul Moss Belmont Beverage Belmont Beverage Belmont Beverage Belmont Beverage Belmont Beverage Belmont Beverage Belmont Beverage

1 COMMENT

  1. SlowXXXX no it’s NO SALES: Here we go – Guess who gets to bail “BS Fort Wayne -1” out on this? It’s you and I – thanks to Richards and Peters who talked Ms. Musgrave into approving the use of Fort Wayne’s Property Tax Levy to back the lease/bonds sold to finance the ballpark and the parking garage which were NOT NEEDED! And have you read whats happening on the police & fire academy at Southtown Centre? Looks like we will inherit the $1 million bill due to the loss of state tax revenue to support this facility – all due to the greed of our elected officials! John B. Kalb

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