FORT WAYNE, IND. (WOWO) Fort Wayne leaders have approved plans for a new hotel development on the city’s southeast side, a project officials say could help attract additional investment to an area that has seen limited growth in recent years.
The Fort Wayne City Council voted 7–1 Tuesday night to move forward with the $9.5 million project at 1661 South Phoenix Parkway, next to a Menards store. The property had remained vacant for more than two decades before it was purchased by developer F&D Hospitality Group LLC.
Under an approved tax abatement plan, the developer could save approximately $1.3 million in property taxes over the next ten years. Even with the incentive, the company is expected to pay roughly $1.6 million in property taxes during that time, according to details reported by WPTA.
City leaders say the project could help stimulate development in the surrounding area and bring new economic activity to the southeast side of Fort Wayne.
Plans submitted for the project indicate the hotel would create at least three full-time jobs and eight part-time positions once it opens.
Supporters of the development say turning a long-vacant property into an active business could help encourage additional commercial investment nearby.
