SUPERIOR LOFTS OPENING IN SUMMER
Superior Lofts opening in summer
Downtown Fort Wayne’s Superior Lofts project will open this summer, officials announced Wednesday following a tour of the building with Mayor Tom Henry.
The $9.8 million project – in the former Graphic Packaging facility on West Superior Street between Harrison and Calhoun streets – will convert the 113-year-old building into 72 loft-style apartments, with 21,000 square feet of commercial space and climate-controlled self-storage units.
Ronda Weybright, CEO of RealAmerica Cos., said Wednesday the project is on schedule.
The Graphic Packaging site has been vacant since 2010.
Last March, to support the project, City Council awarded it a $1 million revenue bond. The site also sits in a tax increment financing district, where tax revenue generated is captured and can be used for further public improvements.
The project also received $1.2 million in federal HOME funds from the Department of Housing and Urban Development and $2.7 million in Industrial Recovery Tax Credits.
City Council also granted Superior Lofts a $1 million, 10-year tax abatement.
RealAmerica is developing Superior Lofts. The company also developed Randall Lofts on Harrison Street, which opened in 2014.