City Seeks New Partner for Ash Skyline Project

Fort Wayne Mayor Tom Henry and Ash Brokerage CEO Tim Ash announce
 the departure of Hanning and Bean from the Ash Skyline project.

FORT WAYNE, Ind. (WOWO): City leaders announced Thursday Hanning and Bean has bowed out of a proposed residential development in the $100 million Ash Skyline Plaza in downtown Fort Wayne.

The city is shopping for a new developer for the residential portion of the building.

The original residential plan was estimated to cost about $30 million dollars and included 80 apartments, about a dozen condos and a handful of townhouses.  The Mayor says there could be design changes that come as they shop for a new developer, but he's determined to bring more living space downtown.

The project remains on schedule, according to city officials, with a 12 hundred space parking garage opening in late 2015 and much of the Ash Headquarters ready by the Spring of 2016.  The city is contributing $39 million and Ash Brokerage $29 million.

According to Kevin Leininger with the News-Sentinel. Bill Bean, with Hanning and Bean, told him the delays pushed construction costs higher and makes it selling property difficult.