Mayor Graham Richard today announced plans for an urban revitalization initiative near downtown
The Renaissance Pointe development would include plans for nearly 400 new homes, the rehabilitation of more than 100 existing homes, a greenway trail, and improved infrastructure. The Renaissance Pointe area is bounded by Creighton Avenue on the north, Pontiac Street on the south, Hanna Street on the west, and South Anthony Boulevard on the east.
“Attractive housing options make Fort Wayne more competitive in expanding businesses and retaining and gaining jobs,” said Mayor Richard. “We are revitalizing an essential neighborhood in our downtown area. We want to keep current residents and bring in new homeowners to enjoy urban living.”
Amenities would include a greenway trail, new street lighting, alley upgrades, curb and sidewalk improvements, traffic calming, stormwater upgrades, and streetscape enhancements.
The City plans to break ground on the new development in the fall. City leaders will provide consistent updates to the public as work moves forward in the coming months. A website has been established to keep the community updated, www.Rpointe.org. The website will be available in a few weeks.
The targeted housing market includes existing neighborhood residents, first time homebuyers, young professionals, and newcomers to the region. Homebuyers will be offered incentives including:
- Households below 80% of area median income will receive up to $15,000 in downpayment assistance grants
- 30-year fixed mortgages with lower interest rates
- Flexibility with private mortgage insurance
- Real property tax abatements