Indiana Tech completes acquisition of Electric Works building
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Indiana Tech has completed its purchase of Building 36 on the campus of the Electric Works district in downtown Fort Wayne, a key step toward establishing what the university envisions as an advanced-manufacturing innovation center.
The home for what the university is calling Junction 36 was purchased for $1.5 million, the university said in a news release. The building is at the corner of College and Wall streets on the west end of Electric Works, a 39-acre mixed use innovation district that once was a location for General Electric.
“The purchase of Building 36 at Electric Works is an exciting step in our development of the Junction 36 initiative,” Junction 36 Executive Director Nate Cheviron said. “With a wide range of partners, we’ve already begun laying the groundwork for a project that will enable us to drive innovation, collaboration, and economic growth in our region. Both at Electric Works and at our main campus, we’ll be helping industry and education converge to create lasting impact.”
Indiana Tech announced the Junction 36 initiative in August when the university received a five-year, $21 million grant from Indianapolis-based Lilly Endowment Inc.
The initiative comprises three central components:
- A center for hardtech and advanced manufacturing innovation that will provide training and assistance to businesses and foster research and development.
- A workforce development program that will provide learning opportunities for university students, fellowships for students to work with area companies and organizations on problem-solving, and mentorship opportunities for Amp Lab high school students.
- A public workshop program that will connect area residents and entrepreneurs with support services such as early-childhood education, affordable housing and health resources so that they can better focus on advancing their education.
Indiana Tech said in the news release that converting the building into Junction 36 will take 18 to 24 months.
The building announcement comes about seven weeks after the university hired Cheviron to lead the initiative. Cheviron is a business coach and consultant who co-founded Cheviron Enterprises, a holding company primarily involved in the real estate industry, Inside INdiana Business reported in February.