Ruoff Home Mortgage details plans for $43.5 million downtown headquarters
Mayor Tom Henry and Mark Music, President and CEO, Ruoff Mortgage, on Monday added details of Ruoff Mortgage’s plans to build their corporate headquarters at the corner of Ewing Street and Jefferson Boulevard in downtown Fort Wayne.
Project details include a $43.5 million investment and approximately 110,000 leasable square feet of office and retail space with a parking garage of nearly 260 spaces contained within nine floors, with cnstruction anticipated to start during the winter, with completion taking 20-24 months depending on the weather.
Ruoff Mortgage is currently headquartered on Magnavox Way in Fort Wayne. Under Music’s leadership, Ruoff Mortgage has grown from 18 employees to about 700 team members today. The company also went from one location in Fort Wayne to over 55 retail lending offices in five states, as well as, their consumer direct platform, which covers 40 additional states.
The city of Fort Wayne and Ruoff Mortgage are in the process of putting together an economic development agreement. Approvals from several local governing bodies will be required in the coming weeks and months in order to move the project forward to eventual construction. Henry said the value of the city’s investment in the project is uncertain, but said the city is expected to underwrite the cost of the parking structure through property taxes generated by the project and other development in the area.
“Having Ruoff Mortgage as part of our revitalized downtown speaks volumes about how well things are going in Fort Wayne,” Henry said in a statement. “I appreciate and value Mark and his team. He could have chosen to build anywhere, and having a nationally-recognized company wanting to call downtown Fort Wayne as home for their corporate headquarters sends a powerful message that Fort Wayne is worth investing in. Public-private partnerships are making a tremendous difference in our community. We’re well positioned for current and future success and even more investments by the private sector moving forward.”
“While we are proud of what Ruoff Mortgage has accomplished to date, we believe that our growth is still accelerating. We want to secure the future of our headquarters in Fort Wayne, and the ability to have a signature building in my hometown that continues the revitalization of our downtown is an important step in accomplishing this goal. We hope that we can quickly finalize our development agreement, receive all the appropriate approvals, and get started on this project as soon as possible,” stated Mark Music, president and CEO of Ruoff Mortgage. “This was a team effort, and we are excited.
Founded in 1984, Ruoff Mortgage is a full-service residential mortgage company with more than 55 branches throughout Indiana, Ohio, Michigan, Kentucky and Florida. They have been ranked on the Inc. 500/5000 Fastest Growing Companies in America for the past seven years and are also ranked in the Top 100 Mortgage Lenders by Mortgage Executive Magazine and The Scotsman Guide. Ruoff Mortgage is also licensed to originate in 45 states.