$1.5B mixed-use project proposed for Fort Wayne riverfront
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(rendering courtesy of MKM Architecture)
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(rendering courtesy of MKM Architecture)
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(rendering courtesy of MKM Architecture)
A group led by Carmel-based Domo Development Co. is proposing a $1.5 billion mixed-use development along the Fort Wayne Riverfront it says would be one of the largest urban development projects in the Midwest.
Domo Development announced Monday that the Riverfront Planned Urban District would include multi-generational housing, multiple youth and professional sports facilities, and commercial and retail space.
The proposal is one of nine being considered for development in the area, that includes a former Pepsi facility that has been acquired by the city.
Domo Development founding principal Eric Doden told Inside INdiana Business the partners found that they needed anchors to the development that could attract some half a million visitors each year.
“[Among] those three anchors that we felt would give us the best long term strategy was a soccer stadium. It’s a magnet for business and for economic development, as well as for entertainment,” said Doden. “Then you have the natatorium; there’s a lot of energy around an Olympic-quality natatorium. And then people have been designing a downtown arena for some time. So, putting those three big anchors, all within just the same 60 acres that was walkable and usable for the entire community just made sense.”
Domo Development said the project would utilize the former Pepsi site just north of downtown. That parcel would connect the the city’s North River property to the north with additional property along High Street to the west.
The main components of the Riverfront Planned Urban District are:
- 5,000-seat multi-use arena and event venue
- 5,000-seat outdoor soccer stadium with connected boutique hotel
- Natatorium with olympic-size swimming pool
- Additional athletic fields and basketball courts for youth sports and public use
- “The Wedge” mixed-use development
- Mixed-use high-rise building with attached structure parking
- Multi-generational residential village that will house people of all ages and abilities
- Expanded, accessible riverwalk spaces
A specific number of hotel rooms, apartment units and residences was not provided. Doden said the project builds on previous economic development efforts in Fort Wayne, including Electric Works, The Landing and Promenade Park.
While he hasn’t seen the other proposals being considered by the city, Doden said his group believes those proposals are specific to the Pepsi site, while their proposal expands to the full 60 acres.
“What we’re really excited about is the team we put together,” said Doden. “This is a whole super team of developers who have come together that can really execute a $1.5 billion plan over 10 years.”
Doden is also one of five leading candidates seeking the GOP nomination for governor.
The partners on the team, the majority of which are Indiana-based, include Brown Capital Group, Card & Associates, Cityscape Residential, Grove Holdings, MKM Architecture, Thompson Thrift and Weigand Construction.
“While Fort Wayne’s continued growth and momentum has been incredible, it’s also created challenges around the supply of housing options for its increasing population,” Jim Thomas of Cityscape Residential said in a news release. “We view this market in general – and this project in particular – as an ideal fit for our team, and we look forward to addressing Fort Wayne’s housing challenges through our Midwestern-rooted approach.”
The city of Fort Wayne issued a statement to our partners at WPTA-TV in response to Monday’s announcement:
“The City of Fort Wayne Administration is aware of the proposal that’s been made by Domo Development. The project will be reviewed, along with eight other proposals that have been brought forward by other development teams to possibly invest along the riverfront. The City’s immediate focus is on the construction of Riverfront Phase IIb Public Open Space that started last month and will take the next 24 months to complete. We continue to be encouraged by the ongoing popularity of our riverfront development efforts and the successful public-private partnerships we’ve experienced to date.”
Doden said the 10-year project, if selected by the city, could get underway in about two and a half years, though he couldn’t commit to a starting date.
It’s also unclear how many jobs could be created with the project, but Doden said his group believes it would have a significant, multi-generational impact.