Tuesday, July 17, 2007

Latest HS Updates

Harrison Square Development Continues to Move Forward

"“We continue to make great progress as we move forward on a signature downtown development for our community and region,” said Mayor Richard. “ Harrison Square will assist us in retaining and gaining jobs and bringing new business opportunities to the area. Harrison Square demonstrates sound fiscal management and the commitment of respected private investors that want to be key partners in revitalizing downtown. An investment in downtown is a positive investment for our community’s future.”"

Talks wrap up on Harrison Square pacts
Parking lot deal OK'd; hotel now hinges on new enclosed walkway

"Fort Wayne completed months of negotiations Monday with developers for Harrison Square, but the final documents include new concessions including the creation of a walkway leading to Grand Wayne Center."

"The hotel agreement is contingent upon the city constructing an enclosed walkway from the hotel to Grand Wayne Center at the city’s cost. Deputy Mayor Mark Becker said the city is discussing options for building a walkway from the new hotel – on the southwest corner of Harrison Street and Jefferson Boulevard – to the Embassy Theatre. Patrons could then use the Embassy’s walkway to the convention center."

"Joe Kimmel, corporate counsel for the city, said the hotel numbers are still close to what was originally presented, and the bond would not have to be increased. He said the city could have demanded a $47 million hotel, but the amount of public subsidy to construct it would be unbearable."