FORT WAYNE, Ind. (WFFT) - The Riverfront property near Promenade Park is growing, and Barrett and Stokely Inc. out of Indianapolis wants a piece of the action.
"Everything that the city has done over the past few years is very very impressive," Rex Barrett with Barrett & Stokely, Inc. said.
Earlier this year, the Fort Wayne Redevelopment Commission terminated an agreement with a developer to build a mixed-use project because the developer couldn't meet the agreement's conditions.
Barrett and Stokely’s new $70 million investment will take its place.
"It will be about 230 apartment units, about 30,000 feet of office, 15,000 in retail and what we call flex space which gives us flexibility in retail," Barrett explained.
There will also be a new parking garage. This will be located at The corner of Harrison and Superior Streets, near Promenade Park.
"We've been working very hard for downtown to be a place of destination for people. One of the things that many individuals are asking for is more living space," Mayor Tom Henry said.
The next step is going through the required approval processes to move the project into construction.
Construction is expected to start in late 2019 or early 2020 and will take a year and a half to complete.
- New development planned along the riverfront in Fort Wayne
- Phases II and III of Riverfront Fort Wayne begin
- People weigh in on Riverfront development
- New developer needed for prime riverfront property
- Southeast Fort Wayne business development behind downtown
- Fort Wayne Arts United Center restoration plans
- IU Health planning Fort Wayne expansion
- Planned Parenthood opens new Fort Wayne clinic
- David Rubin Land Collective will lead design for Riverfront Fort Wayne
- Fort Wayne Parks and Rec offers tour of Riverfront, Promenade Park