{"id":102239,"date":"2021-04-28T13:00:44","date_gmt":"2021-04-28T17:00:44","guid":{"rendered":"https:\/\/aroundfortwayne.com\/news\/?p=102239"},"modified":"2021-04-28T20:15:52","modified_gmt":"2021-04-29T00:15:52","slug":"city-provides-updates-on-downtown-development-projects","status":"publish","type":"post","link":"https:\/\/aroundfortwayne.com\/news\/2021\/04\/28\/city-provides-updates-on-downtown-development-projects\/","title":{"rendered":"City provides updates on downtown development projects"},"content":{"rendered":"

\"downtown<\/p>\n

City of Fort Wayne news release providing an update to downtown development projects.<\/p>\n

<\/p>\n

City continues to see progress with downtown development investments<\/strong>
\nLeaders also highlight challenges the City faces when projects are proposed<\/em><\/p>\n

Fort Wayne, Indiana (April 28, 2021) \u2013 The City of Fort Wayne today highlighted continued progress with current downtown development projects and shared the challenges the City is faced with when additional projects are proposed.<\/p>\n

Over the past decade, downtown revitalization efforts have resulted in nearly $1 billion of investment in the heart of Fort Wayne. <\/p>\n

In addition to highlighting successes, City leaders today also explained the complexity of projects and how some proposed developments sometimes don\u2019t work out. Various factors include the need for additional financial resources and making sure taxpayers are protected through public-private partnerships. <\/p>\n

Recently, for instance, a development team proposed a mixed-use project for the High Street area near the riverfront. Conceptually, it\u2019s a promising project, but the developers\u2019 list of requests presented to the City of Fort Wayne were outside of the scope of what the City has done in the past and placed the balance of risk more on taxpayers than the developer. It just wasn\u2019t going to be a good fit financially with the public-private partnership being swayed too far to the public side. Additionally, the City has a number of projects already underway or close to being started with available public funding set aside for those initiatives. <\/p>\n

\u201cThe City of Fort Wayne will continue to pursue effective public-private partnerships to stimulate job creation and private investment in the City, but our City leadership has a responsibility to review these potential partnerships judiciously to prevent overexposure of risk to taxpayer dollars,\u201d said Nancy Townsend, director, City of Fort Wayne\u2019s Community Development Division. \u201cWe are excited about the list of projects in the works for the City and will continue our efforts to bring in more jobs, investments, and enhance the quality of life in Fort Wayne through projects that make good financial sense for our citizens and taxpayers.\u201d<\/p>\n

Current projects<\/strong>:<\/p>\n