Electric Works One Step Closer to Construction
(rendering courtesy of RTM Ventures)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe construction manager for the $440 million Electric Works project in Fort Wayne says it has secured all the necessary permits to begin construction. Fort Wayne-based Weigand Construction says it is preparing to start construction on the first phase of the redevelopment of the former General Electric campus later this year.
Weigand says work will begin after developers RTM Ventures closes on financing and receives the $62 million in public funds dedicated to the project. Last month, the developer announced it had secured the private financing needed to continue with the development.
“Our community needs a project like Electric Works now more than ever – we are fortunate to have something of this economic scale, scope and impact ready to start at a critical time,” said Larry Weigand, chief executive officer of Weigand Construction. “We’re grateful to the City of Fort Wayne and State of Indiana for their support in granting these important permit approvals that position the project for a timely and successful start of construction later this year.”
Weigand Construction says Electric Works will generate outside investment of more than $200 million into the local economy and a projected 2,000 construction and related jobs during the 24-month construction phase.
“With more than 700,000 square feet of mixed-use space among multiple historic buildings, this project requires an unprecedented level of cooperation, coordination and teamwork among hundreds of Fort Wayne- and Indiana-based design, engineering and construction professionals,” added Cory Miller, principal of Elevatus Architecture in Fort Wayne, which is coordinating the design team for the project. “The development team’s vision for Electric Works reflects the community’s vision – and this team is dedicated and committed to bringing that vision to life.”
Weigand says the first phase of the Electric Works project is expected to open in 2022.