Developer of riverfront site out
A linchpin of Fort Wayne’s planned riverfront development was pulled Monday with the announcement that Continental Property Group could not meet financing approvals specified by its development agreement with the city.
Continental of Wayzata, Minnesota, had been approved to build a $61.7 million mixed-use project known as the HIVE on the northeast corner of Harrison and Superior streets.
The project was to include residential units and retail space surrounding a 1,000-space parking garage to be used by residents, shoppers, government workers and the public.
At a news conference, Nancy Townsend, the city’s redevelopment director, said Continental “did not achieve their financial commitments” while the city had met its end of the bargain.