Fort Wayne, Indiana, is celebrating a new $32.2 million revitalization project underway in one of its most historically significant neighborhoods.

The Landing development, located in downtown Fort Wayne, includes the restoration of seven buildings listed on the National Register of Historic Places, along with construction of one new building. Once completed, the project will include 56,000 square feet of commercial and retail space, as well as 70 new apartments, including 18 affordable housing units.

Enhanced Capital helped finance the rehabilitation project with $2 million in federal New Markets Tax Credit allocation, a $4 million federal historic tax credit investment, $3 million Indiana Industrial Recovery Tax Credits investment, and a $4.8 million bridge loan providing funding that will help to preserve the city’s rich history and revitalize the struggling economy.

“This project is about more than bringing new residential and commercial space to downtown Fort Wayne,” said developer Steve Smith in a statement released by the city. “It is about preserving and showcasing the community’s history and offering opportunities for residents to live, work and play in the heart of the city.”

The Landing had previously been the central business district of Fort Wayne, housing the first post office, hotel newspaper and railway station in the 1800s.

“The Landing is unique to our city – no other community has anything like it,” said Mayor Tom Henry. “That’s why its’s so important to restore this block of buildings and make it a centerpiece of our downtown revitalization efforts.”

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