- Published: Thursday, 27 October 2016 16:15
October 27, 2016 - The $40 million Skyline Tower project is the final piece of an overall downtown development initiative of nearly $110 million that features Ash Skyline Plaza, home to the national corporate headquarters of Ash Brokerage, along with retail office and commercial space and the Skyline Garage. The redevelopment of this previously blighted block is comparable to the investment in Parkview Field, the Harrison, the parking garage and the Courtyard by Marriott hotel.
The City of Fort Wayne Redevelopment Commission is contributing proceeds of a $4 million bond, paid through tax increment financing (TIF) to the Skyline Tower.
The City of Fort Wayne’s subsidiary organization, Fort Wayne New Markets Revitalization Fund, closed and financed a $17.5 million allocation of federal New Markets Tax Credits to support the new mixed-use Skyline Tower. This provided $5.9 million in equity to the project.