BY LINDA LIPP, Greater Fort Wayne Business Weekly
lindal@fwbusiness.com
From her office on the 18th floor of the National City building, Diana Parent has an eagle's view of Fort Wayne.
The president of Parke Group, a Fort Wayne-based commercial real estate firm, Parent said she's glad the debate about downtown revitalization finally has moved past "Should we do something?" to "What exactly should we do?"
"Whether it's the perfect thing or not, we're moving somewhere," Parent said.
Cities like Chicago, Denver, Atlanta and Indianapolis - which built a football stadium on spec before it even had a team - took creative approaches and calculated risks in successfully redeveloping their downtowns, said Barry Sturges, of CB Richard Ellis/Sturges.
"We need that kind of spirit here," he said. "You have to cast your bread upon the water and hope it comes back in the form of a ham sandwich."
But there's some disagreement among those in the commercial real estate and development business over just what Harrison Square, the city's proposed redevelopment project, needs to contain to create the momentum the downtown area needs.
Sturges likes the Harrison Square proposal, which includes a minor-league baseball stadium, a full-service hotel, 30,000 square feet of retail space and 60 condominiums.
"I haven't heard of one other plan that has any legs under it, that has any substance, that has any chance," Sturges said.
He also is impressed with the track record of Hardball Capital LLC, the Atlanta-based owner of the Fort Wayne Wizards and the developer the city is working with on the project.
"It takes a public/private partnership," said Sturges, who worked with the city of Fort Wayne to redevelop the former Southtown Mall property.
"I think (Harrison Square) is a start to other things ... Activity begets activity," Sturges said. "This isn't the answer, it's just one jewel that goes into a setting."
Mike Dahm, senior broker at NAI Harding Dahm, likes the multiuse nature of the proposed development.
"It's got to be a mix, something like that, to attract people. One's going to help the other," Dahm said.
Developer Don Steininger, on the other hand, isn't sure the city needs to do everything it has proposed at one time.
"Deep down, I believe we probably have to do something, but I don't believe there's anything that says we have to do everything at once," Steininger said.
"Look at various pieces and see which ones make the most sense," Steininger suggested. "It's this huge project and we're going to vote it all in or vote it out."
He also has doubts about the city's role in the project.
"Government has a terrible track record in real estate development," Steininger said.
Parent, an investor in Fort Wayne's new National Basketball Association Development League team, describes herself as a "sports nut." But she doesn't believe a minor-league baseball stadium necessarily has to be part of Harrison Square.
"Any kind of entertainment venue is good, whether it's sports-related or arts," Parent said.
A facility that could be used for amateur sports - a field house or natatorium, for example - also could work, Parent believes.
"We're in Indiana, and Indiana is the amateur sports capital of the world," she said.
Parent also believes the redevelopment of the area just north of the St. Marys River, including nearly 30 acres owned by OmniSource, could complement the downtown project.
A joint Fort Wayne-Allen County task force is expected to study several possibilities for the area, including a youth sports complex, a mixed-use retail area and the expansion of Lawton Park.
Parent suggested the river area might also be suitable for a gambling facility.
"Whether you like gambling or not, it is a catalyst," she said. Casinos are an entertainment magnet, and the people they draw, in turn, create a demand for restaurants and hotels.
Sturges agrees that gambling could bring in people, but he's not sure the idea would float in Fort Wayne.
"I think it would be a hard sell in the city of churches," Sturges said.
Piece by piece, here's what some members of the real estate community had to say about various elements of the Harrison Square project.
Baseball stadium
"It's not just a stadium, it's a park," Dahm said. To appeal to a broader range of people, he said, "I think (the city) has recognized it's got to be more than a stadium."
Proponents of the project recently began emphasizing other potential uses for the stadium, such as concerts, high-school football and other youth sports events.
"I think they need to expand on what they can do with it," said Karen Spake, a broker with CB Richard Ellis/Sturges. "I think they've been a little slow in doing that. Youth sports help get parents downtown."
Hotel
With roughly 3,000 developers in the hotel business, the city received only one proposal for the hotel portion of the project. That should send a message that it doesn't make financial sense, Steininger said.
"You really need to listen to people in the business. These people are smart. If it doesn't work, it doesn't work. Let go of it," he said.
Although probably of more use to people visiting the nearby Grand Wayne Center than the ballpark, "The hotel in my mind is a necessary addition," Sturges said, because the downtown Holiday Inn Hotel & Suites no longer meets many corporate standards.
Retail
Getting the right mix of stores and/or restaurants is critical, the real estate brokers agreed.
"I think they would have to be specialty shops, not big box. Not something like Wolf & Dessauer. Those things are gone," Dahm said. "Restaurants, boutiques, artists' shops - all those things create interest for people to come down there."
Because the stadium is open air, it might be usable for only six months of the year. But Dahm believes the right retailers could still survive the off-season.
"If you get a good mix, you'll still be OK," he said.
"The second thing that should follow is not residential, not the hotel, it's dining," Steininger said.
"Look at towns that are successful," said Sturges, who has adult children living in downtown areas in Denver and Chicago. "They have a plethora of things to do for young people."
Condominiums
Steininger said he would "love to believe" more people would choose to live in the downtown area, but "I think that's a real leap of faith."
Sturges disagrees. "The residential component is a key component of any redevelopment," he said.
Dahm thinks project planners should think about including apartments as well as condos to attract younger people not ready or able yet to buy.
Should the project spark a demand for additional downtown housing, Spake believes that could result in the conversion of some other downtown buildings into apartments or condos. It might also mean some other buildings would be torn down to make way for new projects.
More people living downtown might make office space downtown more desirable, Spake added.
"I think it just creates additional opportunities."