Fort Wayne, Electric Works Developers Continue Talks

The first phase of the Electric Works project is slated to begin this year.

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The city of Fort Wayne and RTM Ventures, the developer of the massive Electric Works innovation district, say negotiations on a development agreement for the project are ongoing. Both parties have declined to provide an update to the Fort Wayne Redevelopment Commission in favor of continuing discussions.

The city and RTM were scheduled to give an update to the commission Monday. No further information was released.

The joint statement comes two months after the city released a draft development agreement which would provide $62 million in public funding for the $440 million project, more than the $50 million initially offered by the city. The developers said without the extra funding, the project could not move forward.

The Electric Works project has seen major support in recent months. Earlier this year, a study commissioned by RTM Ventures showed the project was poised to reach demand for office, apartment, and retail space in downtown Fort Wayne. A survey released by Greater Fort Wayne Inc. also suggested a high level of support from Allen County residents.