FORT WAYNE, Ind. (WANE) A deal was finalized Wednesday that gives ownership of the Stonebridge Business Park in southwest Allen County to a Kansas City development firm. Northpoint Development paid $2.1 million for four, 10-acre lots near the intersection of Fogwell Parkway and Lafayette Center Road. Northpoint has the option to buy an additional 84-acres located near the General Motors plant.
The price paid is the same amount Allen County spent to develop the shovel-ready site.
“The County Commissioners, County Council and Redevelopment Commission all take seriously our fiduciary responsibility of spending taxpayer dollars in a most prudent and responsible manner,” said Commissioner Nelson Peters. “We’re pleased with the outcome of this deal since losing taxpayer money was not acceptable.”
The planned expansion of Lafayette Center Road between I-69 and US 24 in Allen and Huntington Counties is also expected to aid in the development of Stonebridge.