Downtown living.
The demand for it in Fort Wayne has grown substantially in recent years and by the end of next year, there will be more options.
“The Lofts at Headwaters Park represents a $98.5 million investment,” says Jonathan Leist, Director of Community Development for the City of Fort Wayne. “Once it’s done, it will have 223 apartments, two-story townhomes, a 651-space parking garage and 12,000 square feet of first-floor commercial space.”
Located at the northeast corner of Clinton and Superior Streets, The Lofts is being built on land adjacent to the Club Soda restaurant. The site had previously been used as a service parking lot for the city.
“The original development agreement was signed pre-COVID and at nearly the same time as the Riverfront at Promenade deal,” says Leist. “The city moved forward with the Riverfront at Promenade, mixed-use development, which was right next to Promenade Park, and kind of put The Lofts on a back burner for a bit — in large part because of COVID. In late 2022, they circled back to The Lofts project, breaking ground in April of 2023.”
But a lot had happened since the original contract agreement from February of 2020.
“Of course, with inflation, the cost of everything had gone up. And there were some environmental and soil constructibility concerns with The Lofts that were more significant than with the Riverfront project. So, the city engaged in soil removal at the site, which took a while and added more cost to the project. In addition to that, we had to do some tweaking to the original building plans to make it a better fit with the ongoing riverfront redevelopment. It took us a while to get here, but there was a lot of excitement around the start of construction last year,” reflects Leist.
Despite those setbacks, the city forged ahead with its vision.
In the months leading up to the groundbreaking, The Lofts project received approval of READI funding from the Northeast Indiana Regional Development Authority and the Indiana Economic Development Corporation. READI is a statewide effort offering millions of dollars in funding to promote strategic investments geared toward making Indiana attractive for talent and economic growth.
“READI was a lifesaver,” says Leist. “This project wouldn’t have happened without that help as well as the support of the Redevelopment Commission, City Council and the Capital Improvement Board.”
Barrett Realty Investments of Indianapolis took a keen interest in The Lofts years ago and shared the city’s vision for this unique project.
“We are very hands-on with our projects,” says Zach Barrett, Principal for Barrett Realty Investments. “We build and design some bigger and nicer apartments and go all in on the amenities. It should be able to compete with newer projects 10 to 12 years from now because we have that long-term mindset instead of just ‘flip and build it.’ When we choose a community, we like to dive in and get involved with everything that community has to offer. We are thrilled to be on board with The Lofts and we’d like to keep growing our footprint in Fort Wayne.”
The parking garage at The Lofts is expected to be complete by the end of this year, with the apartments, townhomes and commercial space finished by the end of 2025.
“On top of the garage is a podium and there will be a pool on the north side, so residents will be able to enjoy that while having unobstructed views of Headwaters Park,” says Barrett. “It will have two courtyards, with the pool in one and the other set up as a relaxing, resort-like facility. There will be a lot of trees and plant materials, outdoor TVs, fire pits and corn-hole. There will also be a clubhouse and a fitness center that looks out onto the pool and the other courtyard. It will definitely be high-end living.”
While there have been many challenges along the way, both Barrett and Leist say the final product will be well worth the wait.
“Even if you don’t live downtown or plan to live downtown, The Lofts will have an impact on you,” says Leist. “When that land was simply a service lot, it wasn’t generating much in the way of property taxes. With The Lofts, a substantial amount of tax revenue will be a benefit to the city and residents for future growth and development. It also means more downtown residents, which helps us attract new commercial development.”
“We believe Fort Wayne will be a powerhouse for the Northeast region of Indiana and is primed to draw people and investments from Michigan and Ohio,” says Barrett. “We’re excited about this growth and look forward to what it leads to in the future.”
