Developers Show Progress on New Renaissance Pointe Area Developments
Fort Wayne, Ind. – Mayor Tom Henry announced his support for proposals that could generate an investment of over $60 million in Fort Wayne’s central core, strengthening neighborhoods, invigorating city housing stock and creating more lifestyle choices for families. While the southeast Fort Wayne proposals are still in the development phase, developers continue to make significant commitments that will move these important projects forwards. New designs and agreements will be discussed today at the City of Fort Wayne’s Housing and Neighborhood Development Services (HANDS) board meeting.
“These efforts are yet another step in the City’s efforts to make Fort Wayne affordable and livable for everyone,” said Mayor Henry. “These new units offer a wider variety of housing choice than has been available in the near downtown community and they ensure the existence of a wider spectrum of quality products available to families.”
Mayor Henry praised developers for their vision as they went into the HANDS board meeting today. The two projects, proposed to the HANDS board, will focus on a variety of living options in the Renaissance Pointe area in southeast Fort Wayne.
A $50 million dollar project is proposed by national developer The Community Builders, Inc. The company is committed to a variety of styles of living. The Community Builders, is one of the largest and most accomplished non profit development organizations in the United States. Their mission is to build and sustain strong communities where people of all income can achieve their full potential. They’ve developed more than 25,000 mixed income units since 1964.
Another development, a $10.4 million dollar project, calls for 66 rent-to-own homes to be built. This project is planned by Kevan Biggs and Biggs TC Development. The average value of these homes will be between $125-$140 thousand. Biggs TC is a local developer who’s been involved with the Renaissance Pointe neighborhood since its inception. The company has a commitment to making home ownership possible for families who have struggled in the traditional lending environment.
“I am excited about developer interest in our community and this important neighborhood,” said Mayor Henry. “We are doing all we can to improve and preserve existing neighborhoods and to create new housing stock where needed. These efforts represent all we can accomplish when we put together a strong program of public/private partnership.”
The projects are still in the discussion stages with the HANDS board – but the commitment level from developers who shared drawings with the board is encouraging and the projects are expected to move forward to the Plan Commission.