Fort Wayne details $45M downtown mixed-use project
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Fort Wayne Mayor Sharon Tucker on Monday announced that Indianapolis-based Barrett Realty Investments is moving forward with a $45 million mixed-use development in the city’s downtown.
The Wells Street Wedge will feature 111 housing units, 3,300 square feet of ground-floor retail space, and a 236-space public parking garage.
The development will be built on a 2.28-acre site on the north side of the Saint Marys River northwest of Promenade Park. The city said in a news release that the project is the first major new private development on the north side of the riverfront.
Tucker said the project is an example of the city’s efforts to determine what’s next to help build Fort Wayne into “a desirable and sustainable community that’s leading the way.”
“Our Riverfront is an area of focus for current and future investments. Barrett Realty Investments’ past success with The Riverfront at Promenade Park project gives us confidence that the Wells Street Wedge will be an excellent addition to the heart of our city,” the mayor said in the release.
The Fort Wayne Redevelopment Commission is set to consider multiple resolutions related to the project during its meeting Monday afternoon. They include amending the West End TIF district to include the project site, an economic development agreement, and a pledge of TIF funds and future parking garage revenue to be used toward an annual lease payment on the public parking garage.
The Fort Wayne City Council will consider certain elements of the proposed project at a later date, the city said.
Pending all necessary approvals, construction on the project could begin in early 2025, with the parking garage slated for completion in 2026 and the remainder completed in the summer of 2027.
The city said the project would bring Barrett Realty Investments’ total investment in Fort Wayne to more than $230 million. The city previously worked with the firm on projects such as The Riverfront at Promenade Park and The Lofts at Headwaters Park.