Mayor Graham Richard today announced the City of
Definitive agreements are documents necessary for construction to begin. They represent a significant milestone toward realizing the project. Agreements will be presented to the Fort Wayne Redevelopment Commission for consideration at its 4:30 p.m. meeting today on the 8th floor of the
“We continue to make great progress as we move forward on a signature downtown development for our community and region,” said Mayor Richard. “ Harrison Square will assist us in retaining and gaining jobs and bringing new business opportunities to the area. Harrison Square demonstrates sound fiscal management and the commitment of respected private investors that want to be key partners in revitalizing downtown. An investment in downtown is a positive investment for our community's future.”
Summary highlights of the definitive agreement with Hardball/Barry are as follows:
* City of
* City will construct the ballpark for an amount not to exceed $30 million with Hardball contributing $5 million toward the cost of the facility.
* City will participate in naming rights and ticket revenues with the proceeds going into a capital maintenance fund.
* Barry Real Estate will construct at a cost of not less than $14.5 million a condominium and retail development.
Barry Real Estate is a dynamic and multifaceted commercial real estate firm specializing in project development, marketing and management. Barry has an award-winning track record with an affinity for mixed-use projects in urban areas. Hardball Capital is an Atlanta-based company that invests in and operates baseball-related businesses. It is the owner of the Fort Wayne Wizards.
Additional Harrison Square updates:
* City Council: An ordinance outlining the bond financing for the Harrison Square development will be discussed at the July 17 City Council meeting. The meeting begins at 5:30 p.m. in Room 200 of the