Ancora - whose name in Italian means both “anchor” and “again” (as in bringing new life to old places) - stands at the precipice of adding another revitalization to a roster of successes and ongoing projects that includes not only Durham, but the Purdue Innovation District, Indiana University Health Center in Bloomington and the transformation of the former Lion Brothers Building in Baltimore. GE was an anchor in the community for more than 100 years. Fort Wayne is headed toward that same vision with a 730,000-sq.-ft.-plus innovation district being developed by RTM Ventures, backed by capital sources from the National Trust Community Investment Corporation (NTCIC) that include $35.7 million in federal Historic Tax Credit (HTC) equity (NTCIC’s largest HTC investment in its history) and $12.5 million in New Markets Tax Credit allocation. The 39-acre property was acquired for redevelopment in 2017 by a partnership led by Ancora Partners, based in Durham, North Carolina - a town synonymous with making legacy industrial real estate into the hippest place to be. Later this year the company is moving 450 employees - company leaders say that may turn to 500 quickly - from an outgrown patchwork of buildings to a gleaming new headquarters at Electric Works, the redevelopment of an 18-building General Electric factory complex that was shut down in 2015. ![]() That’s the slogan of Do it Best, the $5.2 billion member-owned hardware, lumber and building materials cooperative based in Fort Wayne, Indiana.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |