Electric Works Lands Another Major Tenant

Posted: Updated:
FORT WAYNE -

The developers of the massive $440 million Electric Works in downtown Fort Wayne have announced a lease commitment from one of the largest employers in northeast Indiana. RTM Ventures says it is working with Parkview Health to finalize a 10-year agreement for the health system to be a tenant in the mixed-use innovation district.

Parkview plans to open a healthcare clinic at Electric Works, which is being developed at the former General Electric campus, in an effort to address a medically-underserved area of Fort Wayne. The health system also plans partner with RTM Ventures and higher education institutions to develop a dedicated research and innovation space. 

"We believe in the redemptive qualities of this project and its potential to make our region more competitive when it comes to talent attraction," Mike Packnett, chief executive officer of Parkview Health, said in a news release. "We recognize that this project – and others currently underway in our community – are crucial to advancing our region as a destination for business growth, strong neighborhoods and quality of place characteristics that are attractive and unique. This project has the potential to change the perception of Fort Wayne around the country, and what our region can accomplish when we work together. It will build confidence in companies and talent to more strongly consider Fort Wayne when looking at places to expand or relocate."

The health system did not specify how much it planned to invest in its efforts at Electric Works.

Parkview Health is the first major tenant to join Electric Works since the announcement of an economic development agreement between RTM Ventures and the city of Fort Wayne. The city has agreed to provide $62 million in public funding for the project, which requires approvals from various governing bodies. The Fort Wayne Redevelopment Commission gave its approval of the deal last month.

The Fort Wayne City Council is expected to vote Tuesday evening on contributing $10 million from the city's Legacy Fund to the agreement. Councilor John Crawford tells our partners at WPTA-TV he fully supports the measure, saying "if we don't take a chance on this now, we may never get another chance to develop this property."

Councilor Russell Jehl released a statement Monday expressing concern, saying the proposal "substantially depletes the Legacy Fund and offers virtually no rate of return for the Public’s investment." He says a loan from the Legacy Fund, rather than a grant, and a tax phase-in plan would address his concerns. 

  • Perspectives

    • Regional Investment Proposal Could be a Game Changer for Quality of Place Initiatives in Indiana

      While quality of place may be defined differently by people, a growing number of Hoosiers recognize the importance of this issue. In particular, the impact of quality of place on talent attraction and retention in a geographic area cannot be ignored. The future of every community is dependent on quality of place. Like many Midwestern states, Indiana is not growing at the same pace as areas in the southern and western regions of the United States.

    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

    • The Vogue opened as a movie house in 1938, then reopened as a nightclub in 1977. (Picture Courtesy: The Vogue)

      Tech Vets Purchase Popular Indy Nightclub

      A group of Indianapolis tech entrepreneurs has bought a popular nightclub in the city's Broad Ripple neighborhood. High Alpha co-founder Eric Tobias and former MOBI executives Scott Kraege and Andrew Davis say they will retain the Vogue's current staff to manage the venue's day-to-day operations. The new owners say they will detail plans to reinvigorate the Vogue through enhanced fan experience and engagement in the coming months. Tobias, Kraege and Davis purchased the Vogue...

    • (Image courtesy of the Indianapolis Colts.)

      Colts Announce 2019 Regular Season Schedule

      The 2019 NFL schedule is out and the Indianapolis Colts will play in several high-profile games. All three of the Colts’ 2019 primetime games will be on the road against defending division champions. 

    • Bryan Brenner is the CEO of FirstPerson and a founding partner of Performance Lab.

      FirstPerson Execs Launch Performance Lab

      A new firm founded by executives from Indianapolis-based FirstPerson says it wants to help companies strengthen performance. Performance Lab uses a field test known as the Performance Climate Survey, which provides insights into a company’s performance culture. Founding Partner Bryan Brenner, who is also the CEO of FirstPerson, says the firm has already landed a number of early customers, including Goodwill Industries, the Indy Chamber and the Central Indiana Community Foundation.

    • Skilled Nursing Facility Proposed for Merrillville

      A new $7 million skilled nursing facility is being proposed in Merrillville. Our partners at The Times of Northwest Indiana report the development would include five residential buildings outfitted with 12 beds, a dining area, beauty salon and spa. 

    • 2019 'Stellar' Finalists Announced

      Lieutenant Governor Suzanne Crouch has unveiled the finalists for the 2019 Stellar Communities Program. The four regions selected will receive a planning grant and work with the Indiana Communities Institute at Ball State University on project alignment and continued planning efforts. Stellar Communities, launched in 2011, is led by the Indiana Office of Community and Rural Affairs and aims to boost community and economic development and promote local and regional partnerships.