Thu May 8, 2014
Ash Project Gets More Space, Higher Costs
The Ash Brokerage project set for Downtown Fort Wayne is getting bigger. And it's getting more expensive.
The news came Thursday as Fort Wayne Mayor Tom Henry and the project developers announced the signing of the development agreements for the building. The site is expected to take up nearly a full city block bordered by Wayne, Harrison, Berry and Webster streets.
The building includes office space for Ash Brokerage, condominiums, first floor retail space and an underground city parking garage.
The expansion will add an additional story on top and a basement to accommodate up to 1,200 parking spaces, up from the 750 originally planned. It also grows the Ash office space to 95,000 square feet, up from the 65,000 square feet announced in 2013.
The cost of the public-private partnership is now projected to be $98 million dollars, up from the initial investment of $71 million. The city estimates the public portion of the investment to be $39 million, double the original projection of $19.5 million.
City officials say site work could begin in June.