SPI Insights

Indiana – The city of Fort Wayne acquired 6.4 acres of Riverfront property with the vision of revitalizing the area through a public-private partnership (P3).

Acquisition of the former Pepsico site, which includes the distribution facility, will be for $4.5 million. The Redevelopment Commission’s goal for the property is to use it to attract new private investments that will bring additional revenue to the city, providing a more compatible use to the adjacent neighborhoods and public investment in the Riverfront public space areas.

In recent years, the city of Fort Wayne has undertaken multiple initiatives to position the downtown and adjacent neighborhoods for investment with the goal of creating a regionally and nationally significant center for arts, culture, sports, commerce, and retail.

In 2015, the city launched the Riverfront Fort Wayne Conceptual Plan to develop catalytic projects that build on the existing momentum of the previous visionary planning and development.

Combined with the concept plan, the City Council passed an ordinance that set aside a portion of the local income tax revenue to be used in the Riverfront area for construction of public space, such as Promenade Park, for property acquisition, riverbank stabilization, and public-private partnership opportunities.