Tuesday, May 14, 2019 1:00 am
Infrastructure projects advance
Internal road for Jefferson Pointe; water for Sweetwater
DAVE GONG | The Journal Gazette
The Fort Wayne Redevelopment Commission on Monday approved two public infrastructure reimbursement agreements for projects at Jefferson Pointe and Sweetwater Sound.
Under the agreement with Red Development, the owner of Jefferson Pointe, the Redevelopment Commission will reimburse the firm up to $3.5 million to build an internal road through the shopping center. Adding that street is intended to help increase the number of tenants at the shopping center, said Andy Boxberger, an attorney for Jefferson Pointe.
The shopping center is currently at 83% occupancy; the goal is 95%, Boxberger said.
“This plan is really essential and crucial to the sustainability and growth of this project that's on one of our main corridors here in Fort Wayne,” Boxberger said. “At the time it was developed, it was really huge for the area, and we'd like it to stay that way and continue to get bigger and bigger.”
There are about $16 million worth of improvements planned for Jefferson Pointe, but the internal road is the most necessary to attract tenants. The reimbursement agreement also includes stormwater drainage improvements, Redevelopment Director Nancy Townsend said.
Red Development bought Jefferson Pointe last year. The firm had filed documents with the Fort Wayne Plan Commission seeking permission to install the internal street, but those plans were withdrawn early this year.
“There is that essential public improvement piece that really they need to make this thing happen to make the numbers work to get this project done, to rejuvenate this project,” Boxberger said.
The Sweetwater Sound agreement relates to plans to extend a public water main across U.S. 30 to the Sweetwater property, helping serve the campus and surrounding area as growth occurs.
Sweetwater is undergoing an $83 million expansion at its site on U.S. 30.
Boxberger, who also represents Sweetwater, said the reimbursement agreement is for about $268,000 for the water line, which Sweetwater will then give to City Utilities for use as a public water main.
The Allen County Redevelopment Commission is also going to pay $175,000 to remove a hill on Kroemer Road to eliminate a blind turn near the Sweetwater campus.