FORT WAYNE, Ind (WFFT) -- Developers with the Electric Works project say they're taking a big step forward, securing the private funding needed to continue the project.
Kevan Biggs with RTM Ventures says a project like this is never easy, but COVID-19 made things much more difficult.
He was happy to bring Fort Wayne City Council some good news on Tuesday.
"We got full approval on the private debt side and now have the options of turn sheets with the equity needed to get past the deadline and get us to closing on the projects," he says.
This means the loan they were able to secure at $62 million gives them the opportunity to move forward.
Biggs and Tim Pape with Fort Wayne-Allen County Economic Development Alliance say public-private partnerships in Fort Wayne have worked, but they've taken time to develop.
"If we were in innings, we're not in the 7th [innings, or 8th or 9th, we're in the mid-innings," says Pape.
He points to South Town and Parkview Field as examples and says he's excited to see the impact Electric Works will have on Fort Wayne's south side.
"It's like no other," Pape adds.