$5.5 million bond OK’d for boutique hotel project
By Dave Gong | The Journal Gazette
The Fort Wayne Economic Development Commission on Thursday approved the issuance of a $5,494,050 tax-exempt revenue bond for the boutique hotel planned for Main and Harrison streets downtown.
No one rose to speak in favor of or against the bonds at a public hearing Thursday morning, Commission member Joel Benz said.
The planned boutique hotel was announced last year and is being developed through a partnership with Portland, Oregon-based Provenance Hotels and Vera Bradley co-founder Barbara Baekgaard. Once complete, the five-story hotel will feature 125 rooms.
Smaller than most chain hotels, boutique hotels typically include upscale furnishings, gourmet dining and art or amenities unique to the location.
In November 2017, the Allen County Commissioners approved a $2 million loan with the County Redevelopment Commission for the project. That loan will be repaid using tax increment financing district funds. The Fort Wayne Redevelopment Commission approved an economic development agreement with the hotel's developers in March.
Thursday's approval from the Economic Development Commission will now go before the Fort Wayne City Council for final approval.