City Seeks New Developer for Riverfront Property

City Seeks New Developer for Riverfront Property

The City of Fort Wayne is now seeking a new developer for the prime riverfront property located at the northeast corner of Harrison and Superior streets. The Fort Wayne Redevelopment Commission approved an economic development agreement to build a mixed-use project with Continental Property Group (CPG), but it appears CPG cannot meet the conditions of that agreement.

“The City has met all the terms and conditions of the economic development agreement but unfortunately CPG seems unable to meet their commitments,” said Nancy Townsend, executive director of the Fort Wayne Redevelopment Commission.  “I have already heard from other developers who are interested in the site and I look forward to talking with them about creating a project that will be a great asset to our community.”

“It’s important to note that recent market studies show our downtown and riverfront have capacity for additional housing and commercial space,” continued Townsend. “We have great partners in developers like Great Lakes Capital, the Model Group, Provenance Hotels, White Lodging and RealAmerica who are making successful investments in our downtown.”

“Our residents deserve the best project possible and I am confident we will find a developer that has the capacity to make this prime riverfront site something we can all be proud of,” said Mayor Tom Henry.

Moving forward, the Redevelopment Department will meet with developers who previously expressed interest in the site and work toward finding the right partner for the project.

Category Business Buzz