Finalists selected for Fort Wayne’s North River project
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The city of Fort Wayne has identified two finalists to potentially serve as the master developer for the long-awaited redevelopment of the city’s North River site.
The project would include the construction of the $60 million North River Fieldhouse, as well as a hotel, residential, retail and restaurant spaces in future phases.
The finalists were selected by a City of Fort Wayne Redevelopment Advisory Committee comprised of economic development and community leaders. The committee reviewed responses to a Request for Qualifications that was issued in February and resulted in more than a dozen proposals.
Kansas City-based Price Brothers Development is one of the finalists. The real estate development and construction management firm has multiple retail, multi-family, single-family, office and mixed-use projects in its portfolio, according to the city.
The second finalist is Chicago-based Related Midwest, which has more than 30 years of developing city centers, residential, mixed-use and affordable properties, the city said.
“We were overwhelmed by the number and quality of development teams vying for this opportunity,” Fort Wayne Redevelopment Director Alec Johnson said in a news release. “We are confident these finalists will provide us with exceptional proposals that will lead to a development which will benefit the community and neighborhood, while boosting economic activity through sports tourism that serves both local and regional athletes and teams.”
The city says the finalists will prepare conceptual drawings and proposed financing, which the advisory committee will review. The winning firm is expected to be announced in the coming months.
The property—which encompasses nearly 30 acres of city-owned land north of the Dr. Martin Luther King Jr. Memorial Bridge and bordered by Clinton, Harrison, and Fourth Streets—was formerly the site of an Omnisource metal recycling plant and has been vacant for decades.
“This is an important next step in the process to bring a world-class and bold redevelopment project to the heart of our great city,” Fort Wayne Mayor Sharon Tucker said. “North River has the potential to be a monumental boost for Fort Wayne. Upon completion, this unique initiative will be a source of community pride and center of activity for generations to come. Our commitment to being a fun, family-friendly, and safe community will have a lasting impact.”
The first phase of the redevelopment would be construction of the 160,000-square-foot North River Fieldhouse, which the city said is expected to generate $36 million in annual economic impact and support nearly 900 jobs.
