FORT WAYNE, Ind. (WOWO): Fort Wayne City Council gave final approval on a tax abatement for the Ash Skyline project.

The $27 million dollar construction project will create a 116,000 square-foot office and retail space in the heart of downtown Fort Wayne, according to the Journal Gazette.

Ash Brokerage will save an estimated $4.3 million in property taxes over a 10-year-period and the building will create 51 full-time jobs by 2018.

The downtown property will also include a parking garage and residential space.

Journal Gazette reporter Dave Gong writes that developmental firm Hanning & Bean, pulled out of the project last fall, leaving the city with task of finding a new residential developer.