FORT WAYNE, Ind. (WFFT) -- Setback after setback, the Electric Works project finally has a new investor and co-developer on board.
Fort Wayne Mayor Tom Henry says this comeback is exactly what the community needs.
RTM Ventures and Fort Wayne Mayor Tom Henry on Tuesday, Oct. 6, 2020 announced that a tentative agreement has been reached to move the Electric Works project forward.
Henry says, “I am truly encouraged that The Model Group as a co-developer and Tim Ash as a general partner will join with the RTM Group and will certainly bring the Electric Works Group project into fruition.”
Kevan Biggs of RTM Ventures says he’s excited about the announcement but he’s ready to get to work.
Biggs says, “This will be the most inclusive place in Fort Wayne. We want to make sure we cast all the structures in a way that’s inclusive but the programmatic side of it and how we incorporate all of Fort Wayne to be able to enjoy it.”
Steve Smith with The Model Group, specializes in revitalizing urban and underdeveloped neighborhoods in Cincinnati, Ohio.
Smith says Fort Wayne will be transformed in the coming years.
Smith says, “The mission of our company is to positively transform communities. Electric Works is going to bring transformation on a scale that few communities have ever seen.”
The time frame to build Electric Works could take two to three years to complete.
When asked about the previous setbacks Mayor Henry said “It’s complicated.”
Henry says, “This is quite a complicated and complex environment. Every time one question was answered, another one would pop up. It took us this long to come up with a tentative agreement with all of the partners and participants to come to an agreement.”
Henry also says closing this deal is more than just signing a few papers.
Henry says, “Our goal is to close this deal by the end of the year and again, that is going to be a very complicated and complex process.”
Regardless of what happened before, Tim Ash of Ash Brokerage says it’s pivotal that this deal is established in Fort Wayne.
Ash says, “The city is at a pivotal point right now in 2020 and I’m going to tell you that there are a half a billion dollars in projects in the queue. Name the city in the United States that says it’s Fort Wayne? Well, guess what, it is.”
Biggs says none of this would be possible without the community.
He says, “This would not happen without all the community support and outpouring of unsolicited support just over the past 60 days has been remarkable.”