FORT WAYNE, Ind. (WOWO): Sweetwater found Chuck Surack and Lisa Surack of Surack Enterprises are partnering with the City of Fort Wayne’s Community Development Division for a downtown development known as “The Pearl.”
The Suracks will invest nearly $50 million for the seven-story mixed use project with more than 35,000 square feet of commercial and event space, 92 parking spaces for residents, with five live/work units and about 76 apartments on upper floors. The Suracks will also invest up to $7 million to improve the streets and infrastructure around the site.
The site is west of The Bradley and south of Perfection Bakeries bound by Pearl, Webster and Main Streets and Maiden Lane.
The Fort Wayne Redevelopment Commission will consider an economic development agreement for a tax increment financing (TIF) district to reimburse for public improvements around the property. That includes replacing sidewalks, replacing water and sewer lines, reinstalling brick on Maiden and Webster and repaving Pearl Street.
