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Electric Works project checks off one hurdle in critical week ahead

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5nbc Electric Works tenant
Mayor Tom Henry told a Rotary club gathering that the developers of Electric Works are closing in on locking down a major tenant for the troubled project.

FORT WAYNE, Ind. (Fort Wayne's NBC) - The Electric Works project cleared one hurdle needed to move forward on the development of the industrial campus.

The Redevelopment Commission voted and passed a deadline extension to keep public financing that is essential to the project in play.

It was passed 3-2.

This isn't the only hurdle the project needs to clear to move forward.

Two days later -- on Wednesday -- the Capital Improvement Board will consider a similar measure.

Approval from both is needed to extend the timeline for Electric Works developers, who say they have now lined up a major "anchor tenant" for the former General Electric manufacturing site.

An announcement identifying that company is slated for Thursday.

But without the deadline extension, the project itself would be in serious jeopardy.

Fort Wayne Mayor Tom Henry recently endorsed the extension -- which would be the second in recent months.

The $230 million redevelopment project is headed by RTM Ventures, which foresees a mixed-use future for the GE campus -- one offering retail, commercial, residential and entertainment opportunities.

Kayla Crandall

Kayla Crandall is an Emmy award-winning journalist. She serves as the Social Media and Digital Content Manager at WPTA. Follow her on Twitter @KaylerJayne.

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