Delays encircle Harrison Square
Ballpark remains on schedule, but financing eludes other parts
Link (JG)

“Construction has yet to start on the two major private pieces of the $130 million development, and the national economic collapse has made it extremely difficult for the hotel and condominium projects to secure financing to build.

The Harrison condo/retail project has been downsized, and its developers are examining what size project would work in Fort Wayne. While the builders of the Courtyard by Marriott have obtained a building permit, they don’t have the money to construct the hotel, despite numerous public subsidies.

Yet not all news was dire for the public-private project. Hungry contractors supplied low bids, allowing the stadium construction to come in under budget – meaning extra perks can be added.”

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“Dec. 31, 2008 : This was the deadline – extended previously from November – for the hotel to begin construction. Greg Leatherman, Fort Wayne executive director of redevelopment, said the city will likely vote again to create a new deadline, but that won’t happen until they speak with the developers about what is reasonable. He said trying to punish White Lodging, the developer, doesn’t make sense.

“It’s still a partnership. We believe they are acting in good faith,” he said.

The Fort Wayne City Council plans to host developers early this year to discuss progress at the hotel.”

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“Feb. 24 : Individual game tickets go on sale for all TinCaps games. Nutter said all the usual methods to acquire tickets – in person, by phone and online – will be possible on this day. The TinCaps have already sold nearly 1,600 season tickets, Nutter said.”

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“Like the new downtown hotel, construction on The Harrison has yet to begin. To meet demand and market conditions, Barry Real Estate, the project developer, last month cut the once-projected 62-unit, $21 million complex to 30 condominiums with a new overall cost of about $14.5 million. The newer condominiums will be larger than originally planned.

Anytime Fitness was the first tenant announced for the first-floor retail part of the building. Customers there will be able to watch minor league baseball while working out at a two-story, 6,000- to 7,000-square-foot gym.

Leatherman, however, said the redesigns for the building might not be finished. While not offering any specifics, he said the developers were working on designing a project they could get financed quickly. Representatives from Barry could not be reached for comment.”

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