Mayor Tom Henry today announced Great Lakes Capital (GLC) will develop the residential component of the major development project in downtown Fort Wayne.
A development agreement between the City of Fort Wayne and GLC was signed today and the financial commitments for GLC’s private investment are in place for the residential development to be known as “Skyline Tower.”
GLC is a real estate private equity firm with offices in Fort Wayne and South Bend.
GLC will invest $40 million to construct 124 apartments, as well as retail and office space totaling 170,000 square feet. Retail will be located on the first floor, office space on the second floor, and 10 floors of apartment units.
“I’m encouraged by the momentum we continue to see in our downtown,” said Mayor Henry. “GLC will be a great partner, and we appreciate their commitment to Fort Wayne as we work together to move our community forward in the right direction. Providing additional housing and retail opportunities in the heart of our City strengthens our position as a destination place for individuals, families, and businesses. We’ve done our due diligence to ensure the residential piece is reflective of the tremendous investments taking place in our downtown and community as a whole.”
“Collectively, GLC and Bradley Company collaborate to build and manage long term,” said Brad Toothaker, President and CEO of Bradley Company and Managing Partner of GLC. “This project is the quintessential model of a public-private partnership with businesses and the community coming together to create a project that truly moves the needle for the region as it elevates the landscape of Fort Wayne’s downtown.”
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.