Fort Wayne to cut ribbon on Cityscape Flats
By Alex Brown | Inside INdiana Business
Officials in Fort Wayne will Thursday cut the ribbon on a luxury apartment project that is nearly two years in the making. The nearly $34 million Cityscape Flats development includes 163 completed apartments and 14 town homes which are expected to be finished this fall.
The development also includes a private courtyard, 24-hour pet wash center, fitness center, amenity club room with a rooftop patio, grilling patio and a reflecting aqua bench. It also features underground parking with a parking space for each apartment.
"We continue to experience positive momentum and investments in Fort Wayne," said Fort Wayne Mayor Tom Henry. "The completion of Cityscape Flats is another example of why Fort Wayne is a point of destination city. By working together, public-private partnerships are making a lasting and meaningful difference in our community and region. We’re moving in the right direction with job and business growth, more housing options in the heart of the city, thriving neighborhoods and quality of life amenities that make us unique."
The city has invested $3.5 million in tax increment financing and another $3.5 million in tax abatements for the project. The city says the property previously generated nearly $14,000 in property taxes annually and, with the project's completion, it is expected to eventually generate nearly $657,000 in property taxes each year.
The ribbon cutting ceremony is scheduled for 11:00 a.m. Thursday.