FORT WAYNE, Ind (WFFT) -- Developers with the Electric Works project say there is still hope for the $260 million project, saying in the last few weeks they've been continuing to work on bringing in more possible tenants.
Developers RTM Ventures say they have 77% of the private equity and tax credit equity for the project and 61% of the building has been pre-leased.
US Senator Todd Young Tours Electric Works
"Financing is in place ready to go all the elements are ready to go to closing we're just trying to bring the local funding back," says Kevan Biggs with RTM.
A virtual forum held on Thursday with city leaders and Electric Works developers focused on the financial ramifications of losing the work, which is the biggest economic project in the state of Indiana.
"It was a very unfortunate decision that shocked all of us," says Fort Wayne City Councilman Geoff Paddock.
Paddock is referring to the decision by the Redevelopment Commission back in early August to pull funding, a decision that went along with Mayor Tom Henry.