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.
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.