Skyline Tower is the first project that could receive funding from the Regional Cities Initiative.
On Wednesday the Regional Development Authority voted to allocate nearly $3 million to the 12-story apartment complex planned for downtown Fort Wayne.
However, that doesn’t mean the project gets the money right away. The proposal needs to get final approval from the Indiana Economic Development Corporation.
But RDA Chairman Jeff Turner says he’s confident the project will get approved since it encompasses the goals of the Road to One Million plan, which aims to grow Northeast Indiana’s population.
“We think it’s exciting, we think it’s going to help change the face of downtown and create a lot of buzz and excitement,” Turner said.
Skyline Tower is projected to cost about $44 million and will have 124 apartment units, which the RDA says could equal about 200 more people living downtown. The grant awarded $43 million to Northeast Indiana, and Skyline Tower is hoping to receive $2.8 million.
This is the first application the RDA board has received. Turner thinks it’s possible the organization will see more applications the next time it meets on April 19.
