Minnesota Company Planning $62M Fort Wayne Investment

Posted: Updated:
(Rendering provided by the city of Fort Wayne.) (Rendering provided by the city of Fort Wayne.)
FORT WAYNE -

Plans for a nearly $62 million private, mixed-use development have been announced for the Fort Wayne riverfront. The seven-story project will be located next to Promenade Park, which is currently under construction and is one of the signature pieces of the downtown resurgence. Plans from Minnesota-based Continental Property Group include 150 apartments, 20,000 square-feet of retail space and more than 1,000 parking spaces. The city's Redevelopment Commission is slated Monday afternoon to consider the project's development agreement.

The company will work on design and construction elements with Design Collaborative and Weigand Construction, both local firms.

Mayor Tom Henry characterizes the proposal as "exactly the type of investment we have been working to attract along the riverfront." He adds "this unique project further positions our community and region as a point of destination for economic development opportunities, job growth and quality of life amenities that are attractive to businesses, individuals and families."

The development could be complete in 2019 and construction could begin as early as the spring. The city says the agreement includes investing property taxes paid by Continental Property Group parking garage revenue into the project. If approved mid-January, a portion of Local Income Tax and Community Economic Development Income tax during the next 25 years could also be pumped into the development.

Continental Property Group's property portfolio also includes a more than 860,000 square-foot facility in Fort Wayne that is home to an Ohio-based Pro Shear Corp. operation.

Fort Wayne will be the focus this weekend on a special edition of Inside INdiana Business with Gerry Dick from Parkview Field in the city's downtown.

  • Perspectives

    • Social Security Benefits For Your Spouse

      When should you begin Social Security benefits? That depends! If you are married, determining when to start receiving Social Security benefits becomes more complicated. Social Security benefits for spouses are not cut-and-dried. Benefits for a divorced spouse, Social Security survivor benefits, and working or non-working spouses are regulated by a different set of rules. While everyone wants to maximize the amount received, doing so will require thinking through multiple options.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Social Security Benefits For Your Spouse

      When should you begin Social Security benefits? That depends! If you are married, determining when to start receiving Social Security benefits becomes more complicated. Social Security benefits for spouses are not cut-and-dried. Benefits for a divorced spouse, Social Security survivor benefits, and working or non-working spouses are regulated by a different set of rules. While everyone wants to maximize the amount received, doing so will require thinking through multiple options.

    • Maggie Galloway accepted the top prize for Inscope Medical. (Picture Courtesy: inX3)

      Organizers Cancel INX Event

      A multi-day event celebrating Indiana innovation that debuted last year will not return this year. In a joint release, INX organizer inXInnovate LTD and the Venture Club of Indiana say INX, originally scheduled for September 18-19 in Indianapolis, has been canceled. The groups cite "unforeseen circumstances" for the cancellation. Last year's event, which took place at The Union 525 in downtown Indianapolis, featured events including the Venture Club's...

    • (Image courtesy of Winona Building Products LLC.)

      Manufacturer to Start up in Plymouth

      Winona Building Products LLC is planning to invest $9 million into a new facility in Plymouth. The startup manufacturer is locating to a former food processing plant in the Marshall County city and says it could create more than 150 jobs over the next four years. Winona, founded by the owners of Kosciusko County-based Winona Powder Coating Inc. and E&H Products Inc. of Florida, expects to open the facility in November. The company says it plans to...

    • (Image courtesy of the Indianapolis Colts.)

      'Legend And Icon' Retires From Colts Broadcasts

      The radio voice of the Indianapolis Colts for more than 30 years has retired. Bob Lamey, who was with the organization from 1984 to 1991 and from 1995-2018, was inducted into the Indiana Sports Broadcasters and Writers Hall of Fame in 2008. On an interim basis, Colts Radio Production Manager Matt Taylor will take over play-by-play responsibilities. Colts owner Jim Irsay called Lamey "a legend and icon" and said...

    • AstraZeneca Makes Global Connections From Posey County

      The executive director of a major pharmaceutical site in Posey County is discussing its global reach. In a video from the Economic Development Coalition of Southwest Indiana profiling the AstraZeneca PLC manufacturing and distribution operation in Mount Vernon, Tanya Harris says about half of the products from the facility are exported throughout the world. The operation was acquired by AstraZeneca in late 2015 in a more than $3 billion deal for the global diabetes business...