FORT WAYNE — The city of Fort Wayne is seeking a new developer for its $61.7 million mixed-use downtown riverfront project at the northeast corner of Harrison and Superior streets downtown.
Continental Property Group of Minnesota, the developer hired for the job, is unable to complete the project, according to a city statement.
“The City has met all the terms and conditions of the economic development agreement but unfortunately CPG seems unable to meet their commitments,” Nancy Townsend, executive director of the Fort Wayne Redevelopment Commission, said in the statement. “I have already heard from other developers who are interested in the site and I look forward to talking with them about creating a project that will will be a great asset to our community.”
“It’s important to note that recent market studies show our downtown and riverfront have capacity for additional housing and commercial space,” Townsend said. “We have great partners in developers like Great Lakes Capital, the Model Group, Provenance Hotels, White Lodging and RealAmerica who are making successful investments in our downtown.”