Fort Wayne CIB agrees on purchase option of 'Fast Food Block'

The Capital Improvement Board does not plan to remove the restaurants from the land, but plan to control the area in the event of a future development opportunity.

Posted: Jan 23, 2020 6:37 PM
Updated: Jan 24, 2020 10:29 AM

FORT WAYNE, Ind. (WFFT) — The Fort Wayne Capital Improvement Board will be moving forward with their purchase option of the “Fast Food Block.”

The stretch of Jefferson Boulevard is between Ewing and Webster streets just west of the Grand Wayne Center.

The land is currently occupied by King Gyros, Rally’s and Taco Bell.

The C.I.B. does not plan to remove the restaurants from the land, but plans to control the area in the event of a future development opportunity.

“We may have future needs or wants,” said C.I.B. Partner, Tim Pape. “We want to control that site for the potential expansion of the Grand Wayne Center.”

The area surrounding the Grand Wayne Center only permits for expansion west in the direction of the Fast Food Block.

“If we were ever to want to grow the Grand Wayne Center or expand, that’s the only direction we can really go,” said C.I.B. President of the Board James Cook.

The C.I.B. awaits confirmation from the Indiana Department of Environmental Management that no further inspection is required.

Cook explained the 6th amendment of the purchase option of the Fast Food Block is a means of buying time while IDEM approves of the land.

After the letter from IDEM is received the board will exercise the option to purchase the property

The meeting also included a presentation from the Indianapolis-based development company Barrett & Stokely.

They shared details on two new developments in part of the Economic Development Project in downtown Fort Wayne.

The Premier Riverfront and Lofts at Headwaters properties will add over 450 apartment spaces, over 1500 parking spaces, as well as additional office and retail space.

“We’ve got an extremely rare and extremely valuable thing in our riverfront now,” Pape said. “The citizens have primed the pump with their money for the development. We need to make sure it is open to everyone at all times.”

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