BREAKING NEWS : Fort Wayne Police searching for potential suspect in Third Street shooting leaving 2 dead Full Story

Electric Works developers complete close on $286M in project financing

Electric Works officials say they will now invest more than $200 million alone over the next 24 months to redevelop the historic former General Electric campus.

Posted: Jan 12, 2021 4:58 PM
Updated: Jan 14, 2021 12:30 PM

FORT WAYNE, Ind. (WFFT) —  The development team behind Electric Works announced Tuesday that it has closed on $286 million in project financing.

Officials say they will now invest more than $200 million alone over the next 24 months to redevelop the historic former General Electric campus.

Electric Works

Officials say the project will play a critical role in helping the local and regional economy recover and regain its momentum.

“Reaching this milestone took the collaboration, commitment and passion of many, many people,” said Josh Parker of RTM Ventures, the development team behind Electric Works. “We are grateful to our public and private sector partners for their continued support and belief in the potential of Fort Wayne and this project – and the profound positive impact it will have on the city, the region and the state. To the community, we are ready to make your vision of Electric Works a reality.”

Organizers say the first phase of Electric Works is expected to generate nearly $300 million in economic impact during construction and almost $400 million in annual economic impact when the campus opens in 2022.

The West Campus will include more than 700,000 square feet of creative office, co-working, research, entertainment, and retail space as well as a food hall and public market, a STEAM high school, primary care clinic and pharmacy.

With more than 60 percent of the West Campus already pre-leased, Electric Works is anchored by the global headquarters of Do it Best Corp., with other major tenants including Parkview Health, Fort Wayne Community Schools, Medical Informatics Engineering, Ruoff Mortgage, Fort Wayne Metals, IU Ventures, and Indiana Tech.

“Electric Works is a once-in-a-generation opportunity for our city and our region – it keeps us moving forward and continues the momentum of positive development that has been taking place in downtown for the past several years,” said Tim Ash, CEO of Fort Wayne-based Ash Brokerage and a partner in RTM Ventures. “2020 was a historically challenging year on many levels, and we are incredibly fortunate as a community to have a project of this scale and impact ready to go. It is an example of how Fort Wayne is going to be a ‘net winner’ in attracting and retaining talent and creating new jobs.”

Weigand Construction says approximately 2,000 construction-related jobs will be created for this project.

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 710607

Reported Deaths: 13248
CountyCasesDeaths
Marion968581722
Lake51908949
Allen39337672
Hamilton34643406
St. Joseph34306543
Elkhart27477432
Vanderburgh22099394
Tippecanoe21927213
Porter17987301
Johnson17571374
Hendricks16854310
Clark12715190
Madison12367337
Vigo12240244
Monroe11510166
LaPorte11204204
Delaware10382184
Howard9698211
Kosciusko9165114
Hancock8014139
Bartholomew7913155
Warrick7702155
Floyd7568176
Wayne6917198
Grant6855171
Boone6568100
Morgan6414138
Dubois6091117
Marshall5801109
Dearborn571276
Cass5698104
Henry5588101
Noble543683
Jackson494172
Shelby481395
Lawrence4349118
Gibson429589
Harrison429171
Clinton420953
Montgomery418986
DeKalb413284
Whitley382239
Huntington379780
Miami373365
Knox367189
Steuben367157
Putnam353460
Jasper352546
Wabash348178
Adams338253
Ripley335469
Jefferson318080
White308854
Daviess289999
Wells286881
Decatur279592
Fayette277362
Greene271085
Posey269533
Scott261553
Clay255445
LaGrange255470
Randolph236080
Washington231631
Spencer228131
Jennings225448
Fountain209345
Sullivan208042
Starke206252
Owen192756
Fulton192140
Jay186429
Carroll186120
Perry181436
Orange178353
Rush170824
Vermillion166343
Franklin166035
Tipton161543
Parke144616
Blackford133931
Pike130734
Pulaski114345
Newton104234
Brown100740
Crawford97914
Benton97413
Martin83115
Warren80215
Switzerland7698
Union70110
Ohio56011
Unassigned0408

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 1058395

Reported Deaths: 19033
CountyCasesDeaths
Franklin1229981360
Cuyahoga1080042072
Hamilton785031170
Montgomery50326998
Summit45710915
Lucas40568768
Butler37858572
Stark31586896
Lorain24333473
Warren23964293
Mahoning21029584
Lake20143365
Clermont19480229
Delaware18162130
Licking16185207
Fairfield15796197
Trumbull15666461
Medina14961259
Greene14765236
Clark13697293
Wood12828185
Portage12481196
Allen11374229
Richland11102198
Miami10568214
Muskingum8729127
Wayne8619209
Columbiana8589226
Pickaway8454121
Marion8409135
Tuscarawas8393240
Erie7644154
Hancock6746124
Ross6727146
Ashtabula6563166
Geauga6563146
Scioto6314101
Belmont5657159
Union560247
Lawrence5483102
Jefferson5372149
Huron5333114
Darke5285121
Sandusky5208120
Seneca5163120
Washington5095108
Athens509256
Auglaize477683
Mercer473785
Shelby458092
Knox4418108
Madison426559
Putnam423199
Ashland414488
Fulton411667
Defiance405596
Crawford3894102
Brown387755
Logan375176
Preble372498
Clinton364060
Ottawa359578
Highland348460
Williams330074
Champaign322357
Jackson309351
Guernsey308749
Perry290949
Fayette278448
Morrow277239
Hardin265964
Henry265066
Coshocton261058
Holmes255199
Van Wert239863
Pike234231
Gallia233346
Adams230252
Wyandot228354
Hocking210759
Carroll189747
Paulding169239
Meigs141738
Noble133037
Monroe129041
Morgan107723
Harrison105936
Vinton81614
Unassigned02
Fort Wayne
Partly Cloudy
48° wxIcon
Hi: 49° Lo: 29°
Feels Like: 42°
Angola
Clear
46° wxIcon
Hi: 48° Lo: 26°
Feels Like: 40°
Huntington
Cloudy
48° wxIcon
Hi: 49° Lo: 27°
Feels Like: 43°
Fort Wayne
Partly Cloudy
48° wxIcon
Hi: 48° Lo: 28°
Feels Like: 42°
Lima
Cloudy
45° wxIcon
Hi: 48° Lo: 29°
Feels Like: 37°
Patchy frost is expected Thursday night and near seasonable highs are on the way for Friday afternoon.
WFFT Radar
WFFT Temperatures
WFFT National

Community Events