Marketing of Other People Money-Property Taxes-Hotel/50/50

Marketing of the sole developer and the partially paid for with property tax dollars supported downtown hotel that will belong to a private owner.

Information from the city's website,

The City of Fort Wayne today released more details on the proposal received for the downtown hotel component of the Harrison Square mixed-use development. Acquest Realty Advisors, Inc. along with White Lodging Services Corporation has submitted a response, which calls for a full-service Marriott-branded hotel.

RFP highlights
* $47 million private sector development

* 11-story, 250 room hotel tower

* 4,000 square foot junior ballroom

* Two 1,000 square foot meeting rooms

* 4,200 square foot signature restaurant and bar for hotel patrons and residents

* 1,200 square foot specialty coffee shop

* Outdoor pool, year-round spa and fitness center

* Developer supports the overall Harrison Square development and acknowledges the hotel, Grand Wayne Center and mixed-use development along with a baseball stadium would serve as a visitor and local destination place



The City of Fort Wayne now will enter into a negotiation period over the next four to six weeks to work on an agreement with the developer. The City expects to have an agreement in place by the end of the first quarter.

Acquest and White Lodging have hotels in Indianapolis, Chicago, Houston, Louisville, Ky., Austin, Texas, and Trenton, N.J. to name a few. Indiana-based White Lodging and Acquest each bring several years of professional, industry-specific experience to the project.

“We are encouraged to be moving forward as we work to create new catalyst opportunities in downtown Fort Wayne,” said Mayor Graham Richard. “This is a great opportunity for our City and region to be a leader in economic development. A centerpiece gathering place that attracts jobs, businesses and residents will leverage existing assets and enhance community vitality."

The hotel would be a priority element in the multifaceted Harrison Squaredevelopment. Project plans include residential condominiums, street level retail, a new minor league baseball stadium, and a parking garage in the initial $125 million phase.

Taxes generated from the hotel would assist the City in financing the public portion of the Harrison Squaredevelopment. Harrison Square’s first stage calls for a nearly 50/50 split between private and public financing.