Community Foundation invests $500,000 in Electric Works
The Community Foundation of Greater Fort Wayne will invest $500,000 in Electric Works, which will transform the former General Electric campus into commercial, residential, office and educational space in downtown Fort Wayne.
The project’s first phase on the former GE west campus includes about 712,000 square feet of space and an estimated project cost of $248 million. “There is no doubt that Fort Wayne continues to stay relevant by advancing bold and transformative projects. The Community Foundation sees this as another opportunity to invest in the future of Fort Wayne and the region. Similar to our support and participation in the Riverfront and The Landing projects, we want to see the momentum continue.” Brad Little, president and CEO of the Community Foundation, said in a statement.
“The Community Foundation’s belief in and support of Electric Works as a transformational project for our community’s long-term future is important,” said Kevan Biggs, of RTM Ventures, the development team behind Electric Works. “With its deep knowledge and keen understanding of Allen County’s most pressing needs, the Community Foundation board clearly recognizes how Electric Works will be a catalyst for community improvement. We welcome their investment and partnership as we enter the next phase of the project.”
Electric Works includes 39 acres, 18 historic buildings and more than 1.2 million square feet of space for office, educational, innovation, retail, residential, hotel and entertainment uses. The project has received pledges of $65 million in local public funds.