FORT WAYNE, Ind. (ADAMS) – New housing is being built in a historic area of downtown Fort Wayne. A groundbreaking ceremony was held for The Landing Exchange.
The complex will offer 40 mixed-income apartments and 5,000 square feet of commercial space. Construction is set for completion late next year as part of the Landing Historic District revitalization.
The City of Fort Wayne released the following:
Fort Wayne Mayor Sharon Tucker joined The Model Group representatives to highlight construction is underway on the $20 million The Landing Exchange project, 555 S. Harrison St.
The Landing Exchange is new construction located on the west end of The Landing in downtown Fort Wayne on a site that has remained vacant since a 1975 fire. When complete, it will include 40 mixed-income apartments and a total of 5,000 square feet of commercial space on the ground level.
Eight of the apartments will be workforce housing (renting to individuals or families with 60 to 80 percent of the area median income) and 32 will be market rate. There will be 20 studios, 10 one-bedroom and 10 two-bedroom apartments. Construction is expected to be completed in late 2027.
The new development is the third phase of the award-winning Landing Historic District revitalization along West Columbia Street from Calhoun to Harrison streets. Previous phases included the historic rehabilitation of seven buildings and the construction of one new building. These buildings include 70 mixed-income apartments, which are fully leased, and 56,000 square feet of commercial and retail space.
“This construction represents a significant next step in the historic revitalization of The Landing, a block that is pivotal to our identity as a city and as a community,” said Mayor Tucker. “The Landing’s story started more than a century ago, and with the thoughtful planning and design from many partners, it now stands ready to take us into the next century as a place where people from all walks of life can gather and connect.”
“All these years later, to be starting this next exciting chapter of The Landing as a continued signal of Fort Wayne’s resurgence, we feel a sense of gratitude for our local partners’ trust in our continued investment here,” said Model Group CEO Bobby Maly.
The Landing was established in 1965 as Indiana’s first Local Historic District and was later listed on the National Register of Historic Places. The City of Fort Wayne’s Historic Preservation Commission staff worked closely with the Model Group and MKM Architecture + Design to ensure the new building maintains and complements the original character by incorporating some of the district’s Italianate and Romanesque Revival styles.
For nearly a century, The Landing was the central business district of Fort Wayne because of its proximity to the Wabash and Erie Canal and later the railroad. West Columbia Street is home to many Fort Wayne firsts, including the first post office (1820), hotel (1823), newspaper (1833), theater (1851) and railway station (1853).
The Downtown Trust, a non-profit staffed by Greater Fort Wayne Inc. to purchase underutilized property in downtown Fort Wayne, bought the buildings and eventually chose The Model Group as the developer. Based in Cincinnati, The Model Group specializes in revitalizing urban neighborhoods and was instrumental in the redevelopment of Cincinnati’s historic Over-The-Rhine community.
In addition to owner equity, the City of Fort Wayne is supporting The Landing Exchange with tax increment financing (TIF) through the Redevelopment Commission, HOME federal dollars for affordable housing through the Office of Housing & Neighborhood Services, and new markets tax credits through the Fort Wayne New Markets Revitalization Fund. The Indiana Economic Development Corporation and the Northeast Indiana Regional Development Authority are investing READI 2.0 funds.
More information, including a digital rendering, can be found at Engage Fort Wayne HERE
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