STEAM Park land goes up for sale

June 15th, 2016

News Coverage:

June 15, 2016

STEAM Park land goes up for sale

Local owners seek $6 million

Dave Gong | Journal Gazette

Land that Greater Fort Wayne Inc. is eyeing for its proposed STEAM Park project is up for sale. 

The Zacher Co., working on behalf of the Rifkin family, which owns the property, listed the land at a $6 million asking price late last week, said Steve Zacher, president and managing broker of the Zacher Co.

Greater Fort Wayne Inc., an economic development group, unveiled plans late last month to renovate the property, turning it into a park geared toward science, technology, engineering, arts and math. The $180 million proposal would include an aquarium and an IMAX theater. 

“We’d be very interested in working with the city on their STEAM Park proposal, but we don’t want to wait until 2021 to 2025,” Zacher said. He said the property could be purchased by the city of Fort Wayne or a private developer.

Since it just recently went on the market, Zacher said no one has yet inquired about buying the property. He added that the firm is working with an international firm to market the land to potential buyers. Zacher declined to speculate on how long he thinks it will take for the property to sell.

The city’s efforts to purchase the property, formerly occupied by OmniSource, go back years. The city had originally planned to rezone the parcel for commercial development. In light of the property being put on the market, Greater Fort Wayne Inc. is optimistic that a deal can be reached, said Rachel Lott, spokeswoman for Greater Fort Wayne Inc.

“To see the north river property listed for sale is a positive step forward, and as with any deal, we understand that this will have to be a win-win for all parties involved,” Lott said.

“We are grateful to see that the Rifkin family has defined their perspective on the value of the property, and look forward to the next steps in this process.”