Fort Wayne Mayor Tom Henry and Ash Brokerage CEO Tim Ash announce
the departure of Hanning and Bean from the Ash Skyline project.
FORT WAYNE, Ind. (WOWO): City leaders announced Thursday Hanning and Bean has bowed out of a proposed residential development in the $100 million Ash Skyline Plaza in downtown Fort Wayne.
The city is shopping for a new developer for the residential portion of the building.
The original residential plan was estimated to cost about $30 million dollars and included 80 apartments, about a dozen condos and a handful of townhouses. The Mayor says there could be design changes that come as they shop for a new developer, but he's determined to bring more living space downtown.
The project remains on schedule, according to city officials, with a 12 hundred space parking garage opening in late 2015 and much of the Ash Headquarters ready by the Spring of 2016. The city is contributing $39 million and Ash Brokerage $29 million.
According to Kevin Leininger with the News-Sentinel. Bill Bean, with Hanning and Bean, told him the delays pushed construction costs higher and makes it selling property difficult.
