The Journal Gazette
Saturday, October 17, 2020 1:00 am

Ruoff to lease at Electric Works

Mortgage company still determining space needs

DAVE GONG | For The Journal Gazette

Ruoff Home Mortgage plans to move a portion of its Fort Wayne headquarters to the Electric Works development, a spokesperson for the former GE site's development team said in a Friday news release.

Ruoff, which in 2019 announced plans to build a new home office near Parkview Field on West Jefferson Boulevard, has signed a letter of intent to lease an unidentified amount of space in the $280 million redevelopment project, the release said.

The company is working to determine which areas of its local operations will move into Electric Works when it opens in 2022.

“While we are still formalizing the strategy around how that space will be utilized, we felt it important to make an investment in the community with this project, which has garnered incredible support and excitement,” Ruoff Mortgage CEO Mark Music said in a statement.

Friday's announcement comes just days after a new economic development agreement between the city and RTM Ventures, the firm that owns and is developing the site, was adopted by the Fort Wayne Redevelopment Commission.

A year ago, Music and Mayor Tom Henry announced plans to build a 110,000-square-foot building at Ewing Street and West Jefferson Boulevard, on an empty lot that previously housed an auto repair shop. Plans for the site called for office and retail space, as well as a parking garage.

In an email response Friday, a spokesperson for Ruoff said the company is no longer planning to build downtown, and looked forward to supporting such a critical project.

RTM Ventures' Jeff Kingsbury said in a statement the development team is excited to have Ruoff Mortgage on board.

“Like many growing companies, they recognize the challenges in attracting, retaining and growing a talented workforce here – and like Do it Best and our other tenants, they also recognize the unique and critical advantages Electric Works offers them in meeting that challenge directly,” Kingsbury said.

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