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Skyline Tower Receives $2.8 million in Regional Cities Funding

May 17th, 2016

FOR IMMEDIATE RELEASE:

May 17, 2016

 

Skyline Tower Receives $2.8 million in Regional Cities Funding 

 

FORT WAYNE, Ind. - At a press conference today, the Northeast Indiana Regional Development Authority (RDA) announced that the Indiana Economic Development Corporation (IEDC) has approved their recommendation to fund Fort Wayne’s Skyline Tower Project. The grant will be awarded in the amount of $2.8 million -- the first disbursement of Regional Cities Initiative funds for Indiana.

"Skyline Tower is going to be a tremendous addition to our downtown as we continue to see momentum and record investments in Fort Wayne," said Mayor Tom Henry. "The City of Fort Wayne appreciates and values the commitment by the IEDC and RDA to move unique initiatives forward to enhance current and future economic development opportunities. Projects like Skyline Tower strengthen our position as a regional destination place for individuals, families and businesses."

The purpose of the Regional Cities Initiative funding is to attract and retain talent by providing financial support for game-changing quality of place projects that will increase economic growth, lead to population growth, and enhance the region’s national brand identity. Northeast Indiana won the Regional Cities grant last year with its Road to One Million Plan that outlines a short-term goal of 38 regional development projects in 11 counties totaling $400 million in quality of place investments, and more than 70 projects and $1.5 billion in public and private investment over the next 10 years.

“The Skyline Tower is a great example of what the RDA board hopes to accomplish with Regional Cities funding,” said RDA board chairman Jeff Turner of Metal Technologies. “The collaboration between entities to get this project across the finish line is exactly what will make us successful as we use investments like this to shape the future of our region.”

“Great Lakes Capital is honored and pleased to hear of the IEDC grant approval. We are looking forward to continuing our great relationships with the IEDC, the RDA and the City of Fort Wayne”, said Brad Toothaker, Managing Partner of Great Lakes Capital, “GLC is extremely excited about completing the final piece of the Skyline developments and is grateful to be able to work on such an innovative project that will continue to bring even more residents and business back into Downtown Fort Wayne.”

Skyline Tower is part of the Ash Skyline Plaza and Skyline Garage development bordered by Wayne, Harrison, Berry, and Webster streets in downtown Fort Wayne. The project will consist of 124 apartments, as well as retail and office space totaling 170,000 square feet. Retail will be located on the first floor (Ruth’s Chris Steak House and Another Broken Egg), office space on the second floor, and 10 floors of apartment units.

Both companies, Great Lakes Capital and Bradley Company, have committed to relocating their offices into Skyline Tower, which guarantees nearly 70 professionals will occupy a substantial portion of the newly created office space. 

“The Indiana Regional Cities Initiative is on a roll in the Hoosier state, and the Skyline Tower project marks one more step forward as we work to retain and attract top talent for generations to come,” said Governor Mike Pence. “Across the state, communities are crossing county lines to plan and build Indiana regions into nationally recognized destinations to live, work and play. I commend our local elected officials, economic development professionals, business executives and Hoosiers throughout the 11-county Northeast Indiana region for their collaboration and swift action to advance regional development.”

To learn more about the Road to One Million, visit www.neindiana.com/regionalcities.

 

About the Northeast Indiana Regional Development Authority (RDA)

The Northeast Indiana Regional Development Authority (RDA), currently the largest RDA in the state, consists of Adams, Allen, DeKalb, Huntington, Kosciusko, LaGrange, Noble, Steuben, Wabash, Wells and Whitley counties. The RDA is overseen by a five-member board, each appointed by consent of the executives of the member counties and municipalities, and receives staffing support from the Northeast Indiana Regional Partnership. Only the RDA may apply to the new state-funded Indiana Regional City Fund (administered by the Indiana Economic Development Corporation) for matching grants and loans; it may also accept loans, grants, and other contributions from federal, state, and private sources. For more information, visit www.neindiana.com/regionalcities.

 

About Great Lakes Capital

Great Lakes Capital (GLC) is a real estate private equity firm based in South Bend, Indiana with an asset footprint covering the expanded Midwest region. Great Lakes Capital principally develops and invests across the real estate spectrum and is active throughout the capital structure.

 

About the Northeast Indiana Regional Partnership

The Northeast Indiana Regional Partnership was formed in 2006 to build a globally competitive economy in Northeast Indiana. It is a public-private partnership with the mission to build, market and sell Northeast Indiana to increase business investment. In 2010, the Partnership launched Vision 2020 to bring the region together around five key areas for economic growth: 21st Century Talent, Competitive Business Climate, Entrepreneurship, Infrastructure and Quality of Life. The Partnership supports 11 member counties: Adams, Allen, DeKalb, Huntington, Kosciusko, LaGrange, Noble, Steuben, Wabash, Wells and Whitley counties. For more information, visit www.neindiana.com.

 

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MEDIA CONTACT:

Courtney Tritch
Vice President of Marketing
Northeast Indiana Regional Partnership
260.469.3460
courtney@NEIndiana.com

 

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