FORT WAYNE, Ind. (ADAMS) – Fort Wayne Mayor Sharon Tucker, joined by representatives of Visit Fort Wayne and Turnstone, today announced the selection of PB Development, the development affiliate of Price Brothers, as the master developer for the North River District.
Price Brothers, the largest real estate developer in Kansas City, is a real estate development and construction management team with a diverse portfolio of retail, multi-family, single-family, office, industrial, and mixed-use projects. They are the developer of a variety of housing projects as well as the premier sports and entertainment complex Bluhawk, located in Overland Park, Kansas.
“Price Brothers is the right firm to bring our vision of a vibrant mixed-use district to life. They have a proven track record of delivering transformational projects similar in size and scope to the North River District,” said Mayor Tucker. “This bold project is critical to continuing city and regional economic growth and momentum, and I look forward to working with Price Brothers as we move into the planning and public engagement phase.”
The City released the following:
Price Brothers rose to the top from a total of 20 development teams that submitted qualifications to the City’s Redevelopment Department. A Redevelopment Advisory Committee, made up of economic development and community leaders, reviewed all proposals, conducted interviews and unanimously agreed that Price Brothers was uniquely qualified to lead the project.
“The fact that the North River District project has generated this level of interest from multiple national and regional developers confirms that the work Fort Wayne has done in the last 20 years continues to pay off. This is not the time to rest on our laurels, but to move forward with purpose to take advantage of this well-earned momentum,” said City of Fort Wayne Redevelopment Director Alec Johnson.
The 29-acre North River site is bounded by Clinton, Harrison and Fourth streets and serves as an important gateway into downtown Fort Wayne. The site was previously used as a rail yard and scrap yard, dating back to 1902. The land has not been actively used since 2006.
With the selection of the master developer, the planning and public engagement phase for the North River District kicks off. The development team will meet with local business and community leaders, elected officials, residents of Bloomingdale neighborhood, and the public to gather input about the design and uses for the site. Housing, both affordable and market-rate, will be a primary focus for the site as well as plans for the North River Fieldhouse, which will establish Fort Wayne as a key youth and adaptive sports tourism destination. Spanning 160,000 square feet, the facility is anticipated to accommodate various indoor sports and activities, including basketball, soccer, volleyball, wrestling, cheerleading, pickleball, baseball, flag football and more.
Recent feasibility studies estimate the fieldhouse will generate approximately $36 million in economic activity annually, primarily from visitors coming to Fort Wayne for tournaments. This will support nearly 900 jobs and contribute approximately $12.9 million in labor income each year. It is expected to create demand for 54,000 hotel nights annually and generate an estimated $733,000 in food and beverage and innkeepers tax revenue annually.
For more information and to stay up to date on the project visit TheNorthRiverDistrict.com.
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