Indiana Tech planning Electric Works space
By Alex Brown | Inside INdiana Business
A mixed-use innovation district in development at the former General Electric site in downtown Fort Wayne has landed a new tenant. Indiana Tech has signed a letter of intent to lease 10,000 square feet of space in a more than 100-year-old building at Electric Works.
Indiana Tech says it is working with the Electric Works development team to explore options for the most appropriate use of the space. The university says it will enter into an official lease once those plans are further developed.
"Indiana Tech has long been a partner to our community in providing quality educational opportunities for students of all ages," said Indiana Tech President Karl Einolf. "As seen in the growth and improvements on our main campus, we also believe in doing our part to help our city become an even better place to live, learn and work. We’re excited about the possibilities created by the Electric Works project and look forward to continuing our work with the development team.”
The space the university intends to lease is located inside building 19 at Electric Works, which developers are planning to turn into 230,000 square feet of rentable space.
"We are thrilled to enter into this collaboration with Indiana Tech," said Jeff Kingsbury with the Electric Works development team. "We are creating a district that will be the convergence of innovation, energy, and culture. It’s through significant and cornerstone partnerships with entrepreneurial, future-focused and locally invested organizations like Indiana Tech that Electric Works will find its roots for growth and success."
Last week, the Indiana Economic Development Corp. approved a tax incentive for the $213 million first phase of the Electric Works project. Work on the first phase, which will include more than 616,000 square feet of space, is expected to begin in 2018.