Innovation District Planned For GE Campus

Posted: Updated:
FORT WAYNE -

A buyer has been identified for the 31-acre former General Electric campus in Fort Wayne. The plans from Baltimore-based Cross Street Partners LLC include commercial, residential, retail and hotel components that Greater Fort Wayne Inc. Chief Executive Officer Eric Doden says could total more than $280 million. GFW Inc. says the redevelopment is expected to be funded through public and private sources and construction could begin as early as this fall. The company expects work to take more than three years.

Doden tells Inside INdiana Business the vision involves an innovation district concept. "What we knew is we had a campus of about 30 acres of 16 buildings that had no activity on it and so it was time for us to work hard as a team to repurpose that into something that is economic value-added," Doden said. "In broad terms, what we see with a $284 million redevelopment is after that you have it either complete or mostly-complete, we do a snapshot for the next 10 years, our typical impact has been five-to-ten times the original investment."

Doden says to-date, Cross Street has been an "excellent" partner, visiting the site and city numerous times, as well as meeting with neighborhood and community leaders in the lead-up to General Electric's selection. Doden says he expects the developer to do more of this kind of work throughout Fort Wayne as plans move forward.

Doden says the investment and potential economic impacts are significant, but the most exciting part for him will be the effect on the people of Fort Wayne and the potential innovations and creativity that will be spurred throughout the redevelopment.

Mid-2016, GE launched its national search for development partners through a request for qualifications process. The property, which used to be the site of thousands of GE employees at its peak, has been abandoned for about two years.

  • Perspectives

    • Ahh…Yes! Turning a Hot Mess into a Cool Breeze

      "Problems cannot be solved by the level of thinking that created them," is attributed to Einstein over 75 years ago. This still holds true, particularly in challenging communications. Many people address conflict at the level it was created by rehashing and building more evidence for their ‘side’ of an argument. Repeating a position tends to intensify the separation of people.

    More

Events



  • Most Popular Stories

    • The IU School of Informatics, Computing and Engineering will now be named for Fred Luddy for his $60M gift. (photo courtesy James Brosher/IU)

      $60M Gift to IU, Second Largest in School History

      An Indiana University alumnus who founded the information technology firm, ServiceNow, has given his alma mater $60 million to establish an artificial intelligence center. The university says the gift from cloud-computing pioneer Fred Luddy is the second largest in the history of the IU.

    • Bob Stutz

      New Role For Salesforce Exec

      After three years on the job, Salesforce Marketing Cloud Chief Executive Officer Bob Stutz is moving into a new role. Stutz, who will remain in Indianapolis, is now executive vice president of strategic partners at Salesforce (NYSE: CRM).  Since arriving in Indianapolis, Stutz has overseen the establishment of the company’s regional headquarters in downtown Indianapolis, which included the Salesforce name being placed atop the state’s tallest building.

    • Who Pays Debts After Death?

      If you have a mortgage on your house, what happens when you die?  What about a car lease or credit card debt?  Are your heirs required to pay off what you owe? What is the financial legacy that you will leave behind?  Your legacy could be the bequest of property or money, but it could also mean inheriting debt. It’s not uncommon for spouses or others to get bombarded with collection calls from creditors asking to pay the bills of a family member who has died.

    • POET ethanol co. announced in Aug 2019 it was closing the plant in Cloverdale. (photo courtesy: POET)

      Cloverdale Ethanol Plant Closes

      South Dakota-based POET LLC, the nation’s largest biofuels producer, is moving forward with a plan to shut down its biorefining plant in Cloverdale, leaving 50 Hoosiers without jobs effective Friday. The company tells Inside INdiana Business that it is not making any changes to the plans announced two months ago. 

    • Photo courtesy of Cummins

      Cummins Names Kennedy VP of Product Compliance

      Columbus-based Cummins Inc. (NYSE: CMI) has named Melina Kennedy vice president of product compliance and regulatory affairs. In the newly-created role, Kennedy will oversee engine emission certification, product compliance, and regulations related to Cummins products.