City Council approves funding to support two Riverfront District developments

03/10/2020  |  BY rfw

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City Council approved the last piece of funding to support two Riverfront District developments, The Lofts at Headwaters Park and The Riverfront at Promenade Park, that will bring more housing, retail options, office space, and parking to downtown Fort Wayne.

“I am encouraged to see The Lofts at Headwaters Park and The Riverfront at Promenade Park move forward,” said Mayor Tom Henry. “These projects are crucial to the long-term viability of the Riverfront District because they deliver much-needed public parking in conjunction with high-quality retail, office space and a variety of residential options. Additionally, these developments will stay true to the Riverfront Fort Wayne guiding principle of inclusivity, by ensuring that all residents and visitors can continue to enjoy our riverfront and have access to the restaurants and shops in the area. I want to thank the developer, Barrett & Stokely, for their commitment to these projects and Fort Wayne and extend my appreciation to the members of City Council, Fort Wayne Redevelopment Commission and Capital Improvement Board who have supported them.”

The Lofts at Headwaters Park

• $67.75 million six-story, mixed-use development
• Located at northeast corner of Clinton and Superior streets, just west of Club Soda
• 217 market rate apartments on upper floors and 15 townhomes along Clinton and Barr streets
• 11,700 square feet of commercial space on Superior Street
• 651-space parking garage – more than 320 of the total spaces will be available for public use (exceeding the 265 public spaces that are there today)
  1. Redevelopment Commission will lease, operate and manage the garage for a term of 25 years
  2. One level underground and two levels above-ground
  3. Virtually no portion of the garage will be visible from public rights-of-way
  4. After 25 years, the Redevelopment Commission will have the option to own 50% of the garage
• Club Soda will not be affected. A public plaza with outdoor seating will be created between the development and Club Soda along Superior Street.
• Site work will begin in the summer of 2020, parking garage construction is expected to begin in late 2020 with completion of the project expected in early 2023

The Riverfront at Promenade Park

• $88.7 million six-story, mixed-use development
• Construction expected to begin in spring 2020, completion of garage in mid-2021, completion of apartments/commercial in third quarter of 2022
• 3.44-acre site on northeast corner of Superior and Harrison streets; just east of Promenade Park
• 222 market rate apartments, 7 townhomes
• 24,000 square feet of office space
• 14,000 square feet of retail space
• 12,800 square feet of “flex space” that could be retail, live-work units or townhomes
• Iconic glass design that mirrors the design of the Park Foundation Pavilion
• 913-space parking garage to accommodate apartment residents, residents of Superior Lofts, County government employees and the public
  • Redevelopment Commission will lease, operate and manage the garage for a term of 25 years
  • Four levels – one at-grade and three above-grade
  • The majority of the garage will not be visible from the public right-of-way
  • After 25 years, the Redevelopment Commission will have the option to own 50% of the garage