We’ve heard that “The Harrison” project was a go many more times than we can remember, but this time it comes with word that financing has been secured. With tax credits on the line, lets hope we see more dirt turning at the site soon. The following clip is a press release by the city on December 8th.
Fort Wayne, Ind. – Mayor Tom Henry today affirmed that the final piece of Harrison Square remains on track for completion during a briefing on The Harrison’s definitive agreement with New Harrison, LLC. The Harrison is the residential, retail and office component of the signature, downtown Fort Wayne development.
“By every measure, Harrison Square is an unqualified success: new jobs, new investment, new hotel, new ballpark and tons of new activity in the heart of our community,” stated Mayor Henry. “With financing and the definitive agreement now in place for The Harrison, we are poised to add new residents, new businesses and expanded growth to downtown. Working together, even in these difficult times, we are realizing our goals for a vibrant city center that is a magnet for opportunity and a key economic driver for our region.”
The Monday news of the definitive agreement’s successful negotiation comes on the heels of the development partnership’s recent report that financing for The Harrison has been secured with PNC Bank. Evidence of the project’s financing was delivered to the City of Fort Wayne on August 31, the date outlined in the June memorandum of understanding.
The definitive agreement between the City and New Harrison, The Harrison’s new investor group, refines and memorializes the terms and conditions first set forth in the memorandum of understanding. The agreement is binding.”
“Located on the southeast corner of Jefferson Boulevard and Ewing Street and overlooking Parkview Field, The Harrison will serve as a visual gateway to Harrison Square. The mixed-use building will feature retail space at street level, distinctive office space on the second floor, and 42 upscale apartments on the top two floors. Altogether, The Harrison will encompass nearly100,000 square feet of leasable space across its four stories.
The estimated $18.5 million development will significantly exceed the $14.5 million of private investment required by the City for this portion of Harrison Square. The current estimates incorporate both design and construction projections.
Throughout the development process, interest in The Harrison has intensified. A sizable list of prospects for the apartments has already been collected.
Moreover, three businesses have executed leases and will become the first tenants of The Harrison:
• Carson Boxberger, LLP, a longstanding downtown law firm, 24,000 square feet of space;
• 3Rivers Federal Credit Union, a regional financial-services provider, 3,800 square feet of space; and
• O’Reilly’s Irish Bar, an Indianapolis-based establishment new to northeast Indiana,
4,000 square feet of space.
Barry Real Estate will continue to market The Harrison. All inquiries for both residential and retail space should be directed to www.HarrisonSquareLiving.com.”
-City of Fort Wayne Website