May 4, 2017 -- Cityscape Flats LLC, an investor in Greater Fort Wayne Inc., celebrated the opening of its 143,000-square foot luxury apartment community by DOMO Development and Weigand Construction Co., Inc. on Thursday, May 4, at 11 a.m. Cityscape Flats is located next to Parkview Field on Jefferson Boulevard between Ewing Street and Fairfield Avenue. The Fort Wayne Redevelopment Commission is investing in the public infrastructure for the project.
Cityscape Flats features 163 luxury apartment homes comprised of five studios, 118 one-bedroom and 40 two-bedroom units. There are nine different floorplans featured in the three- and four-story buildings. Apartments include spacious designs and tall ceilings, granite kitchen countertops, modern light fixtures and stainless steel appliances. This development includes 14 for sale luxury town homes, estimated to be completed fall 2017.
Community features of the $33.8 million project, which broke ground in September 2015, include a private courtyard, a 24-hour pet wash center, a fitness center, an amenity club room with a rooftop patio, a grilling patio and a reflecting aqua bench. Secured underground parking includes a parking space for each apartment.
The City of Fort Wayne’s investment of $3.5 million in tax increment financing (TIF) and $3.5 million in tax abatements – made possible through the Fort Wayne Redevelopment Commission – includes the parking garage and streetscape work. The entire project is made up of 84 percent private funding and 16 percent public funding, which comes from existing TIF funds and a tax phase-in. No property taxes were used to fund the City’s portion of the project. In addition, the Redevelopment Commission negotiated with all the previous property owners and acquired the parcels for approximately $2.5 million. Prior to Cityscape Flats, the property generated nearly $14,000 in annual property taxes. Eventually, this development is expected to generate taxes of nearly $657,000 per year.
“We continue to experience positive momentum and investments in Fort Wayne,” said Mayor Tom Henry. “The completion of Cityscape Flats is another example of why Fort Wayne is a point of destination city. By working together, public-private partnerships are making a lasting and meaningful difference in our community and region. We’re moving in the right direction with job and business growth, more housing options in the heart of the city, thriving neighborhoods and quality of life amenities that make us unique.”
“I think this is going to be an active-lifestyle property,” said Eric Doden, CEO of Greater Fort Wayne Inc., at Cityscapes Flats groundbreaking. “It will bring people together, millennials and empty nesters, and that will make it special. Some people like to spend time at the lake and downtown, others want to walk to work or to other amenities. It will be a dynamic place to live.”
Flaherty & Collins Properties will manage the site.
“Cityscape Flats is a community for those who crave city life, but love the comfort and convenience of a modern development,” said Angela Peoples, Regional Property Manager for Flaherty & Collins Properties. “But the real attraction is the neighborhood.”
About Flaherty & Collins
As one of the Midwest’s largest and most experienced developers of multifamily properties, Flaherty & Collins Properties is a leader in development, construction and property management.
For more information on Flaherty & Collins Properties, visit www.flco.com
About Greater Fort Wayne Inc.
Greater Fort Wayne (GFW) Inc., serves Fort Wayne and Allen County, Indiana, as its metro chamber alliance and primary point of contact for economic growth. GFW Inc., focuses on prosperity and community vibrancy through economic development, advocacy, programs and resources that support business success, leadership development, graduate retention and community engagement. To learn more, visit www.greaterfortwayneinc.com.