FORT WAYNE, Ind. (WOWO): RTM Ventures has closed on a $5.5 million deal for the former General Electric property, according to the Journal Gazette.
The deal was finalized late Thursday, according to officials.
Related: Fort Wayne GE Campus development named “Electric Works”
RTM Ventures includes Cross Street Partners of Baltimore, Greenstreet Ltd., of Indianapolis, and Biggs Development of Decatur.
Plans for the 39-acre property called “Electric Works” were unveiled back in Febrary for a $300 million mixed-use development.
Now, crews are expected to begin work on removing hazardous materials before the end of the year. Those expenses could range anywhere from $3.5 million to $9 million, including removing lead paint found throughout the buildings.
RTM will also work on applying federal and state grants.
Occupancy is slated for late 2019 or early 2020.