Capital Improvement Board pays $6M for site once eyed for new downtown arena
The Allen County-Fort Wayne Capital Improvement Board on Thursday agreed to buy the so-called “fast food block” west of the Grand Wayne Center for $6 million. The CIB, which oversees county food and beverage tax revenues, acquired an option to buy the property in late 2018 and will pay $200,000 to exercise the option.
CIB members stressed there are currently no plans to redevelop the property, which is home to fast-food restaurants and a parking lot for the Allen County Public Library. The site could allow for future Grand Wayne expansion and was also eyed as a potential site for a new downtown arena — a project Mayor Tom Henry said may again be under consideration.
Completion of the sale is subject to an environmental inspection. The block is currently home to a Taco Bell, Rally’s, King Gyros and other tenants that will be allowed to remain, and pay rent to the CIB, until the property is needed for another purpose.