FORT WAYNE — Mayor Tom Henry, the City of Fort Wayne’s Community Development Division, and developer Barrett & Stokely held an official groundbreaking ceremony Tuesday, April 11, to celebrate construction that began last week. The Lofts at Headwaters Park is a $98 million mixed-use development project located at the northeast corner of Clinton and Superior streets.
“The Lofts at Headwaters Park is going to be a welcome addition to our downtown that continues to grow and thrive,” said Mayor Henry. “It’s encouraging to see the private sector wanting to invest in our community. Our proactive revitalization efforts in the heart of Fort Wayne will have a lasting and meaningful impact.”
The six-story mixed-use development will include apartments, townhomes, retail space, and a 651-space parking garage supporting the building and providing convenient parking for Headwaters Park events and patrons, the Arts Campus and nearby businesses and restaurants. The parking garage is expected to be open in 12-14 months, with the mixed-use project completion date of approximately 30 -months. The apartments and townhomes will bring 350 new residents to our vibrant and growing downtown.
“We are thrilled to be starting construction on our next project, The Lofts at Headwaters in downtown Fort Wayne. We share the community’s vision for riverfront redevelopment and are pleased to be a part of the progress happening downtown,” said Rex Barrett, Executive Vice President of Barrett & Stokely, Inc.
The Lofts at Headwaters Park received approval of READI funding earlier this year from the Northeast Indiana Regional Development Authority and the Indiana Economic Development Corporation. READI is a statewide effort dedicating $500 million in state appropriations to promote strategic investments that will make Indiana a magnet for talent and economic growth. The project also received support from the Fort Wayne Redevelopment Commission, Fort Wayne City Council and the Capital Improvement Board.
Launched by Gov. Holcomb and led by the Indiana Economic Development Corporation, READI encourages regional collaboration and data-driven, long-term planning that will attract and retain talent in Indiana. The $500 million READI fund was passed by legislation during the 2021 session and was divided among 17 regions.
Through READI, 17 regions across the state that represent all 92 counties are moving forward with projects and programs designed to enhance Indiana’s regions for current and future generations of Hoosiers. Collectively, the state’s $500 million investment is expected to yield an additional $9.86 billion public, private and nonprofit dollars invested (19.72:1 investment leverage ratio) in enhancing Indiana’s quality of life, quality of place and quality of opportunity.