May 24, 2023 - Mayor Tom Henry and the City of Fort Wayne’s Community Development Division today led a groundbreaking ceremony to mark the beginning of construction on a major single-family housing development in southeast Fort Wayne.
Roosevelt Reserves is a 131-lot subdivision, the largest market rate single-family housing development in southeast Fort Wayne in nearly 50 years. The development is situated on 126 acres of land at Tillman and Hessen Cassel roads, and the total investment is expected to be approximately $40 million over the next three to four years.
Roosevelt Land Development Group President Jerry Starks received City Council approval in February to use Legacy funds to pay for a portion of needed public infrastructure improvements including water, sewer, and street work. A residential tax increment finance district was also formed to reimburse the Legacy funds through new taxes generated by the project. The development takes a step toward addressing the demand for new for sale, market rate single-family homes as evidenced in the City’s most recent housing study.
“Roosevelt Reserves is going to be a tremendous development for our community by providing needed housing options. It’s one of the many reasons why I’m so enthusiastic about the direction we’re headed in southeast Fort Wayne,” said Mayor Henry. “We’re bringing meaningful quality of life opportunities to residents, neighborhoods, and businesses. Collectively, our community has an unwavering commitment to make a positive and lasting difference in the southeast quadrant. We still have work to do, but we’re on the right track.”
Roosevelt Reserves will offer lots that will accommodate single story and two-story homes with attached garages with some lots having water views. Lots are currently available for sale. Builders will begin construction of homes on lots that have already sold in the coming weeks. It is anticipated that homes in this addition will begin in the mid-$200,000’s for certain models as well as offering lots for custom builds.
Roosevelt Reserves is a catalytic project aligned with the recently-adopted Southeast Strategy Update. By attracting new owner-occupied households, the project seeks to provide opportunity for families to build wealth through home ownership and to stimulate further investment in this historically underinvested part of the city.