The Fort Wayne Redevelopment Commission has approved an economic development agreement for phase one of a mixed-use project called Village Premier in southeast Fort Wayne. The city says the $55 million development will transform more than 20 acres of vacant, city-owned property into a neighborhood of homes and businesses.
The initial development includes more than 200 units of income-based housing and at least nine single family homes.
The city says future phases will include senior housing commercial space, health services, among other public amenities.
“This project is a demonstration of the vitality and opportunities for significant private investment that exist in all parts of our community,” said Nancy Townsend, community development director. “This is one more specific example, of the market demand and existing developable land in the Southeast area coming together for what will ultimately be a more than $55 million mixed-use project focusing on quality of life, place making amenities and connectivity.”
Carmel-based real estate developer House Investments will partner with MKM Architecture and Michael Kinder & Sons, both Fort Wayne businesses, to complete the project.
As part of the economic development agreement, the city says it will apply for additional funding through the Indiana’s Regional Economic Acceleration and Development Initiative (READI) program.
Construction of Village Premier is expected to begin later this year.