Fort Wayne’s Redevelopment Commission gave the required approval to several elements of two large downtown projects at its meeting Feb. 10.

The Lofts at Headwaters Park, a $68 million multi-use development, and the newly named Riverfront at Promenade Park, an $89 million mixed-use development, were granted approval on eight separate issues by the commission.

The projects have many similarities: they’re both being developed by Barrett and Stokley of Indianapolis; they’re both parking garages on the interior with residential units, office and retail space wrapped around the exterior; and they both front Superior Street.

And they’re only about three blocks apart.

The parking garages are crucial to both projects. Joe Giant, redevelopment manager for the city of Fort Wayne, said as development occurs, such as the new Promenade Park, “Riverfront parking went from challenging to dire.” The Riverfront at Promenade Park development, which is directly east of the new park, will include a 900-space parking garage, 225 apartments and 60,000 square feet total for offices, retail space and “flex space.”

The Lofts at Headwaters Park, which will be built on what is now a parking lot at Clinton and Superior streets, just south of the Headwaters Park pavilion, will have a three-level parking garage with 633 spaces, 232 apartments, 15 townhomes and 12,000 square feet of retail space.

The projects needed – and got – approval from the Redevelopment Commission on the following eight items:

Lofts at Headwaters Park

• Economic development agreement

• Parking structure lease

• Tax increment and parking revenue pledge

• Remediation and indemnification agreement

Riverfront at Promenade Park

• Economic development agreement

• Parking structure lease

• Tax increment and parking revenue pledge

• Amendment to Riverfront/Columbia Street TIF District

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