An artist's rendering of what the Electric Works project could look like after development. Courtesy image
At a glance
Electric Works' Phase I is expected to include:
• 224,000 square feet of office space
• 113,000 square feet of educational/institutional space
• 83,000 square feet of retail space, including restaurants and a food hall
• 83,000 square feet of dedicated innovation space
• 82,000 square feet of residential space
• 31,000 square feet of recreational and amenity space
Source: RTM Ventures
The former local General Electric campus is officially out of GE's hands.
RTM Ventures has completed a $5.5 million acquisition of the 39-acre property just south of Fort Wayne's downtown core, officials told The Journal Gazette.
RTM Ventures is a joint venture created by Cross Street Partners, of Baltimore; Greenstreet Ltd., of Indianapolis; and Biggs Development, of Decatur.
The firms and their plans for the campus now called Electric Works were unveiled to the public in February during a ceremony attended by Gov. Eric Holcomb, Mayor Tom Henry and other city and county officials. The $300 million, mixed-use development will be funded with a combination of private and public money.
The RTM Ventures name honors local entrepreneur Ranald T. MacDonald, who launched the Fort Wayne Electric Co. on the GE campus in the late 1800s. G.E. acquired Fort Wayne Electric in the early 1900s.
Although Thursday's closing might seem like a minor step in the multiyear process, developer Kevan Biggs didn't take it for granted.
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