February 7, 2017 - RealAmerica Companies today celebrated the beginning of construction on Fort Wayne’s newest downtown living option, Superior Lofts, 102 W. Superior St.
Superior Lofts is located near the planned Phase I Riverfront Fort Wayne development and will convert obsolete manufacturing space into residential and retail/restaurant space. The former Graphic Packaging facility was built in 1905 and has been empty since 2010.
The $9.8 million project will rehabilitate and restore the historic industrial building into 72 high-end apartments, 21,000 square feet of new commercial space and climate-controlled self-storage units that will meet the needs of downtown residents and businesses. RealAmerica recently developed Randall Lofts, 616 Harrison St., and continues to have a waiting list for residents wanting to rent apartments at the historic building.
“Superior Lofts has been a project that I am very excited for RealAmerica to take on. I fell in love with the building when I was scouting downtown projects during the restoration of the Randall building and knew this would be a great space to create innovation for Fort Wayne’s downtown Riverfront District area,” said Ronda Weybright, CEO/President of RealAmerica.
“It's encouraging that there continues to be interest from the private sector in investing in Fort Wayne. It's a sign that the positive momentum we've been experiencing is continuing and our community is moving in the right direction,” said Fort Wayne Mayor Tom Henry. “More housing options in the heart of our City helps position us as a leader in attracting individuals, families, businesses and economic development opportunities to Fort Wayne and the region.”
Many local organizations, financial institutions and government agencies are investing in the Superior Lofts development, including the City of Fort Wayne, the Indiana Economic Development Corporation, Foss & Company Tax Credit Advisors, STAR Financial Bank and many service providers. The development is scheduled to open in summer 2018.
RealAmerica, a WBE-certified company, was created in 1995. Its original purpose was to develop and construct apartment housing through the use of Low-Income Housing Tax Credits. Building on that experience, RealAmerica expanded into other real estate development including market rate apartments, self-storage, business office, and mixed-use developments as high-quality opportunities have arisen.