Bill Bean Closes Deal to Buy One Summit Square

FORT WAYNE, Ind. (WOWO): Local developer Bill Bean has closed a deal to purchase One Summit Square. According to the News-Sentinel, Bean closed the deal Wednesday.

Just last week, Bean's Hanning and Bean backed out of the $100 million dollar downtown Ash Skyline Plaza project. The local developer was pledging about $30 million dollars for the residential part of the skyrise. The city is contributing $39 million and Ash Brokerage $29 million to make it their new headquarters.

Bean says his purchase of the the building that sits at Berry and Calhoun Streets will lead to a variety of rental properties.

Mayor Tom Henry says other developers are interested in joining the Ash Skyline Plaza project. Meantime Henry says, the standards and expectations for the building remain high.