FORT WAYNE, Ind. (WANE) Ash Brokerage partnered with Hanning & Bean Enterprises in a public-private partnership for the building that will change Fort Wayne’s skyline. The $98 million downtown development project started Thursday with a groundbreaking ceremony to commemorate the start of construction on the new buildings.
The project is funded by three different groups, Ash Brokerage, Hanning & Bean Enterprises, and the city. While no property taxes are being used to fund the City’s portion of the project, the city is putting the most money into this project.
“We are going to add about 95000 square feet of office space, 20000 square feet of retail space, 150000 square feet of living space and 1200 parking spaces to downtown,” Bill Bean, vice president of Haning & Bean Enterprises said. “I mean it’s a huge huge addition to downtown.”
“For too long we were stagnate in our downtown, and all of you know that,” Mayor Tom Henry said. “We’re beginning to get some swagger. And that’s a nice position to be in.”
Ash Brokerage’s new building will be known as “Ash Skyline Plaza.” The company has invested $29 million for the 95,000 square feet of office space. Ash anticipates an increase of 115 local jobs over the next few years.
“It’s not about Ash Brokerage, it’s about our city,” said Tim Ash, CEO of Ash Brokerage. “And we are a part of our city. We hope that others are inspired to want to do more and invest in downtown, and make it something to be proud of.”
The Ash tower should be open for bushiness around March 2016. The building will be 17 stories tall, reaching 199 feet at the tallest point.
The Hanning & Bean housing will be known as “Skyline Terrace.” Hanning & Bean Enterprises invested $30 million in the construction of 80 apartments, 10-14 condominiums, and six street-front townhouses. The Hanning and Bean Tower is expected to take the longest to complete, finishing sometime around October or November 2016.
Fort Wayne will construct a 1,200 space parking garage for the project. The city will invest $39 million which includes the parking garage, land acquisition, site preparation, streetscape improvements, utility upgrades, as well as other project enhancements. The parking garage should be ready to use by December 2015.