FORT WAYNE, Ind. (ADAMS) – A City of Fort Wayne Redevelopment Advisory Committee, made up of economic development and community leaders, has selected two finalists to potentially serve as the master developer for the North River site.
In February, the Redevelopment Department issued a Request for Qualifications for a master developer to construct the North River Fieldhouse and, in later phases, housing, a hotel, restaurant and retail spaces. Twenty development teams from around the nation submitted qualifications and the Advisory Committee short-listed and interviewed five teams. Upon completion of all interviews, the committee selected the following finalists, each with a track record of successfully delivering transformational projects similar in size and scope to North River.
“This is an important next step in the process to bring a world-class and bold redevelopment project to the heart of our great city,” said Mayor Sharon Tucker. “North River has the potential to be a monumental boost for Fort Wayne. Upon completion, this unique initiative will be a source of community pride and center of activity for generations to come. Our commitment to being a fun, family-friendly, and safe community will have a lasting impact.”
The City released the following:
Price Brothers Development, headquartered in Kansas City, is a full-service real estate development and construction management team with a diverse portfolio of retail, multi-family, single-family, office, industrial, and mixed-use projects. They are engaged in all phases of the development process including site selection, acquisition, master planning, entitlements, financing, leasing, marketing and construction. Team members have over ten decades of combined experience from well-respected real estate firms and have delivered 15 million square feet of developments and redevelopments.
Related Midwest is part of Related Companies, a global organization, and is based in Chicago. Related Midwest is widely recognized as one of the most innovative and prolific developers in the U.S. For over 30 years, their team has developed best-in-class city centers, residential, mixed-use, and affordable properties. Their senior management team has expertise in every aspect of real estate development including acquisitions, finance, architecture and design, construction, marketing, sales and leasing. Their financial resources allow them to execute developments of virtually any size or complexity.
The selected teams will now prepare conceptual drawings and proposed financing, which will be reviewed by the Advisory Committee. A final development team will be selected within the next several months.
“The City appreciates the efforts from the advisory committee and all the development teams that submitted proposals,” said Jonathan Leist, director of the City’s Community Development Division. “In particular, we appreciate the interest of the team led by Chuck Surack and Daryle Doden, who always have the best interests of the community at heart.”
“We were overwhelmed by the number and quality of development teams vying for this opportunity,” said Alec Johnson, Redevelopment director. “We are confident these finalists will provide us with exceptional proposals that will lead to a development which will benefit the community and neighborhood, while boosting economic activity through sports tourism that serves both local and regional athletes and teams.”
The 29-acre North River site is bounded by Clinton, Harrison and Fourth streets and serves as an important gateway into downtown Fort Wayne. The site was previously used as a rail yard and scrap yard, dating back to 1902. The land has not been actively used since 2006.
Phase one calls for the construction of the North River Fieldhouse, which will establish Fort Wayne as a key youth and adaptive sports tourism destination. Spanning 160,000 square feet, the facility will be designed to accommodate various indoor sports and activities, including basketball, soccer, volleyball, wrestling, cheerleading, pickleball, baseball, flag football and more.
The estimated investment for the Fieldhouse is anticipated to range between $50 million and $60 million and the complex is estimated to generate approximately $36 million in economic activity annually, supporting nearly 900 jobs and contributing approximately $12.9 million in labor income each year. It is expected to create demand for 54,000 hotel nights annually and generate an estimated $733,000 in tax revenue annually.
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