SPRING 2015 GREATER FORT WAYNE INC DOWNTOWN Generating Interest...High In Demand 200 E. MAIN ST. SUITE 800 FORT WAYNE, IN 46802 T 260 420-6945 W GreaterFortWayneInc.com Inside this issue: Leisure 1 Demand Generators Downtown Improvement 4 Corporate 6 Demand Generators THE LANDING 7-8 Downtown Housing Market The Big Reveal: 9-10 Master Plan for Riverfront Development Announced Visitors Economic Impact PARKVIEW FIELD RANKED #1 11-12 VisitFortWayne By The Numbers Leisure Demand Generators 13 Story by John Nolan/Fort Wayne TinCaps FORT WAYNE, Ind. - It's another feather in the cap for the home of the TinCaps. Parkview Field has been ranked No. 1 out of all 160 MiLB ballparks in the nation, according to Stadium Journey. The magazine released its 2014 Midwest League Ballpark Rankings on Monday. "A team with a facility as impressive as Parkview Field could easily just open the gates and let the fans roll in," the review reads. "The TinCaps organization
Page 2 GFW INC DOWNTOWN Parkview Field set new records for overall (411,028), regular season (406,715), and single-game (9,182) attendance during the 2014 season. We re a 10! Sports Venue Experiences in North America 1 Camden Yards Baltimore Orioles MLB 2 Amsoil Arena Minnesota-Duluth 3 Dayton Speedway NASCAR 4 PNC Park Pittsburgh Pirates MLB 5 Busch Stadium St. Louis Cardinals MLB 6 Univ of Notre Dame Compton Family Ice Arena 7 Indian Wells Tennis Indian Wells, California 8 Xcel Energy Center Minnesota Wild 9 Carolina Stadium USC Gamecocks 10 PARKVIEW FIELD Fort Wayne Tin Caps 11 Lucas Oil Stadium Indianapolis Colts NFL Another Record Year does nothing of the sort. This organization strives to offer fans one of the best game day experiences anywhere. This commitment is evident from the top of the organization to the game-day employees working throughout the ballpark. From the moment you step foot in Parkview Field you will find a dedication to customer service that is unmatched not only in minor league baseball, but in all of sports." Stadium Journey rated Parkview Field a 4.7 out of 5.0. The magazine's "FANFARE Score" is a metric device for rating each stadium experience that covers food and beverage, atmosphere, neighborhood, fans, access, return on investment, and extras. Each area is rated from 0 to 5 stars with 5 being the best. The overall composite is the "FANFARE Score." Attendance 70 Home Number of Events (non- Events (non-tincaps) TOTAL ATTEND- Parkview Field received a 5 in food and beverage, atmosphere, fans, return on investment, and extras. The Downtown Fort Wayne ballpark was given 4s for access and neighborhood. "The TinCaps appreciate seeing Parkview Field recognized as the best MiLB ballpark in the country," TinCaps President Mike Nutter said. "To be ranked #1 in the entire country is amazing and is a testament to 2012 2013 2014 408,044 410,458 411,028 602 612 677 102,670 92,997 144,120 510,714 503,455 555,148 our community, the region, and the revitalization of downtown. We're proud of the success we've had since moving to Downtown Fort Wayne in 2009 and are excited to continue working hard to provide our fans with the best possible experience every time they come to Parkview Field." TinCaps Named 2014 MiLB Team of the Year Ballpark Digest Recognizes Organizational Excellence
Page 3 GFW INC DOWNTOWN DOWNTOWN ARENA City of Fort Wayne is investing in study that looks at a Downtown Arena FORT WAYNE, Ind. (WANE) Fort Wayne is investing in a study that will look at the impact of bringing a new arena to downtown. The $40,000 study is in its preliminary stages. Based on the results over the next few months, city officials could discuss a mid-size arena. We re a city on the move. We have a lot of momentum: Parkview Field, the Harrison, housing downtown. We re seeing a lot of growth, we re seeing a lot of development, said John Perlich, spokesperson for the mayor s office. Perlich said it makes sense that a downtown arena would be discussed next. What we ve been hearing from not only residents but developers locally and throughout the country is, have you looked at what a downtown arena could possibly do in Fort Wayne? Would it be feasible? Would it work? And so, that s really what we re doing, said Perlich. The city chose Chicagobased Hunden Strategic Partners for the study. The consulting firm that we selected has a lot of experience looking at downtowns across the country. They ve actually done studies here in Fort Wayne, said Perlich. HEADWATERS PARK Headwaters Park is strategically located at the confluence of the three rivers and was designed to mitigate flood control issues. 500,000 people attend Headwaters Park annually. Its location provides a perfectly positioned area that hosts over 50 festivals, concerts, charitable and special events. Two large pavilions host popular events like Germanfest, Ribfest, Greek- fest, and other popular venues. In the winter, the Ice Rink opens to the public. Over 40,000 people attend Germanfest annually. Fort Wayne s Downtown Improvement District is the organization established under State of Indiana Statute designed to provide top-shelf services for businesses located in Downtown Fort Wayne. Much of the success growth to the Downtown community can be attributed to a number of very popular programming events. Downtown Fun
Page 4 GFW INC DOWNTOWN Three Rivers Festival For nine days each summer and for 47 years, this annual event draws nearly a half a million visitors to Downtown. Festival-goers enjoy tasty treats at the Food Alley, Art in the Park, Raft Race, TRF Parade, and so much more. Clean & Green 469,000+ Attendees Enhances appearances of the streets, sidewalks, and public spaces. The D.I.D. uses the Clean & Green Ambassador Services to maintain and enhance the appearance of sidewalks, curbs and right-of-way via litter patrols, power washing and detailed cleaning, e.g. weed and graffiti removal. Musicians, jugglers, living statues, stilt walkers, and pyrotechnics are the first five reasons why this year s BuskerFest promises to be five times the fun! BuskerFest 8,500+ Attendees BuskerFest is a celebration of street performers and a festival of the unexpected. Musicians, jugglers, living statues, stilt walkers, and pyrotechnics fill the streetscape for this family-friendly event. The DID hosts its locally renowned, admission-free Buskerfest on the last Saturday in June. Taste of the Arts 5,000+ Attendees This very popular, summer event draws large crowds throughout the Downtown. Over 30 restaurant vendors, 10 performance stages, and an art marketplace contribute to this event s success. Proceeds help to make innovative arts and educational programming accessible to our community. Fright Night 7,500+ Attendees Downtown Fort Wayne s annual Halloween event features the zombie walk, haunted tours and spooky activities. Night of Lights/Holly Trolley 15,600+ Attendees The holiday season officially begins with Night of Lights, the ceremonious lighting of Fort Wayne s most treasured holiday displays.
Page 5 GFW INC DOWNTOWN Another Record Year Meeting/Conference Demand Generators GRAND WAYNE CONVENTION CENTER Annual attendance (2014) over 225,000 We have a large number of clients that are looking for offsite venues to host dinners/ luncheons. FORT WAYNE: In 2013 we booked 52 conventions, 2014 we will end the year around 53 and targeting around the same for 2015, Marcy McKinley, Sales & Marketing Director, Grand Wayne Convention Center. The GWCC has put more of a focus on our corporate market segment and we continue to see a rise in corporate meetings/events. The GWCC will host 12 Holiday Parties this year. We will host over 100 corporate/local events in 2014. We will host 16 Wedding receptions in 2014. We have a large number of clients that are looking for offsite venues to host dinners/luncheons, McKinley said. As for private parties there s a real demand for spaces for events, both related to the convention center and not, Megan Flohr, Visit Fort Wayne adds. One aspect of meetings and events in recent years is the downsizing of food functions. Basically, where a conference used to have X number of banquets and luncheons, many have now gone to 1 or 2 events and the rest are meals on their own. Lots of times this ends up meaning a few vendors go in together and host something off-site. There are a very limited number of restaurants currently that have the type and size of spaces that can accommodate this. There are also smaller events coming into town trainings and such, as well as business groups, teams, families, etc. There s lots of potential for the right -priced location. Visit Fort Wayne THE HISTORIC EMBASSY THEATRE A $10 Million renovation is ongoing at the seven-story Indiana Hotel and the attached Historic Embassy Theatre, a local performing arts theatre. Most of these areas have been unused for more than 40 years and are now taking shape. The plan calls for a two-story high ballroom and rooftop garden, studio and rehearsal space, classrooms, history center and improved public access and concession areas. Renovation is scheduled to be completed by 2016. 2013 Attendance: 118,370 2014 Attendance: 112,073 *The Embassy hosts roughly 45 private parties per year.
Page 6 GFW INC DOWNTOWN Corporate Demand Generators DOWNTOWN HOTELS & LODGING We believe in Fort Wayne, and our decision to build our national headquarters downtown is a grand slam for all of us, Tim Ash, President & CEO Ash Brokerage Corporation. Located in the heart of downtown, two award winning hotels are conveniently connected to the Grand Wayne Convention Center and to the Historic Embassy Theater via Sky Bridges. Visitors enjoy spectacular views of Parkview Field and the Tin Caps baseball games. The Courtyard by Marriott Downtown and the Hilton at the Grand Wayne Center have enjoyed growing occupancy rates since 2010. DOWNTOWN INVESTMENT HISTORY FORT WAYNE Including the Anthony Wayne Building, Randall Lofts and the Harrison there have been 144 units constructed in the last couple of years. Currently under development, over 300 residential units in the residential portion of Skyline Terrace, Cityscape Flats and Superior Lofts (Real America). Since 2004 there has been $467M of investment in downtown Fort Wayne. This includes $241M of private funds, $192.6M of local funds, $25.8M of state funds and $7.8M of federal funds. Ash Brokerage plans to build its corporate headquarters in Downtown Fort Wayne with over 100,000 square feet of available office space. The project includes a parking garage and over 20,000 square feet of first-floor retail space. The combine private-public investment totals over $70 Million.
Page 7 GFW INC DOWNTOWN PROGRESS ON THE LANDING FORT WAYNE Mayor Tom Henry announced on January 13th that progress has been made on Columbia Street at The Landing. Local leaders gathered to celebrate the strategic acquisitions of several important buildings. The Historic Landing district is the origin of much of downtown Fort Wayne s commercial origins. When commerce was transported in the 1830 s, the Wabash & Erie Canal System provided a pre-railroad means via canal boats to connect Lake Erie to the Ohio River. Fort Wayne broke ground at The Landing in 1832 and commercial success and development soon put Fort Wayne on an upward development trajectory. Thomas Alva Edison, the world renowned inventor, worked in one of the Columbia St. buildings as young telegraph operator in 1864. Many of the existing buildings have historic designations and plans to redevelop and repurpose have already been executed by a local non-profit, the Downtown Development Trust. The Trust was formed in 2011 to buy vacant or underutilized property in the downtown area, with the purpose of reselling to new owners for redevelopment. To date, the Trust has Mayor Tom Henry stands with Fort Wayne Downtown Development Trust board president, Maclyn Parker, at the January 13th news conference. a purchased seven buildings and two parking lots on West Columbia St. with more than $3.1 Million invested with the singular purpose to attract an ambitious and enthusiastic developer. A local architectural firm, Design Collaborative, whose origins began at the Landing, has sketched a new design which envisions a new brick street, restaurants, retail stores at the street level with mixed use living units or offices in the upper floors. New Gateway archways adorn the two entrances to the east and west ends. Trust officials estimate an RFP forthcoming in the next 3 to 4 months and hope for project completion within the next three to five years. DOWNTOWN HOUSING MARKET FORT WAYNE The downtown housing market can support 200 to 250 additional rental and owner occupied units per year over the next five to seven years, according to Laurie Volk, a market analyst for New Jersey based Zimmerman/Volk. The forecast absorption of rental units over the next 5-7 years is about 800 units. Renters are forecast to have income that support rents in the range of $475 to $2,000. A majority of the rentals in this forecast segment of the market has income that is greater than 80% of the area median (AMI range for 2 person to 4 person households is $47K to $59). The forecast absorption of owner units over the next 5 to 7 years is about 700. Owners are forecast to have income that supports purchase prices in the range of $95K to $250K. The downtown housing market is forecast to be dominated by younger singles and childless couples (64%) with empty nesters and traditional families making
Page 8 GFW INC DOWNTOWN up the balance (19% and 17% respectively). The forecast for buyers and renters in the downtown housing market will increasingly come from beyond Fort Wayne and Allen County. In 2006, about 78% of the downtown housing market was forecast to come from Allen County and by 2014 that share dropped to 65%. The share of out-of-town buyers and renters that comprise the downtown housing market is expected to increase from the current 35% (this is up from the 19% forecast in 2006). The trend is for more of the downtown market to be absorbed by out-of-towners. ANNUAL MARKET POTENTIAL FROM OUTSIDE THE CITY CONTINUES TO RISE: Fort Wayne 56.7% (down from 74.4%) Allen County: 7.5% (up from 3.6%) DeKalb, Whitley, Noble: 0.7% (up from 0%) Indianapolis: 3.7% (up from 2.3%) Balance of the U.S.: 31.4% (up from 19.8%) CITY ANNOUNCES NEW HOUSING PROJECT Thomas Project Units Added Anticipated Opening Date Cityscape Flats 167 Fall 2017 The Landing 100+ approx? FORT WAYNE (JG D Gong) A new apartment complex in downtown Fort Wayne is expected to break ground in the spring of 2015. Known as Cityscape Flats, the project located across from Parkview Field on a plot of land bordered by Ewing Street, Fairfield Avenue, West Jefferson Boulevard and Brackenridge Street will feature apartments, row houses, a parking garage, and streetscape improvements. "I continue to be encouraged by the unprecedented growth and development taking place in the heart of our city," Mayor Tom Henry said in a statement. "We're committed to meeting the high demand for downtown housing options. The city of Fort Wayne is moving in the right direction as we invest in the future and enhance economic and quality of life opportunities." The total project cost is an estimated $27 million. Private investment will comprise $20 million of the total cost, while the city has committed $7 million in public funds, which will come from existing tax increment financing funds and a tax phase-in. No property taxes will be used to fund the city's portion of the project. Ash Skyline Plaza 90+ approx Superior Lofts 66 Spring 2016 The Harrison 62 2013 Randall Lofts 44 Fall 2014 Anthony Wayne 38 2012? How Fast Will the Target Households Rent or Buy New Housing in Downtown Fort Wayne? Rental Units: 10 to 12 percent capture rate For-Sale Units: 5 to 8 percent capture rate Annual Capture of Market Potential: 205 to 272 Market-Rate Units per Year
Page 9 GFW INC DOWNTOWN CITY ANNOUNCES RIVERFRONT PROJECT FORT WAYNE - The City s riverfront consultant, SWA Group, recommended building a waterfront promenade as the first phase of enhancements to Fort Wayne s downtown riverfront. The recommendationsthomas came at the Grand Wayne Center during the Big Reveal, which is the final public meeting of the riverfront study process. SWA Group provided detailed renderings of what the promenade could look like. The first sections of promenade could extend along both the south and north banks of the St. Marys River beginning at the Historic Wells Street Bridge and stretching east toward Harrison Street. The public has been very involved in this planning process, said Kinder Baumgardner, SWA Group principal. We heard time and again from residents that they most wanted to see a promenade that would allow for walking, shopping and dining. This promenade would include terracing and a variety of levels designed to withstand different water levels and conditions. In addition to detailed promenade plans, SWA Group provided final recommendations for Lawton, Guldlin and Bloomingdale parks, as well as the area surrounding the confluence. Highlights include: Locating Headwaters Junction, a rail-themed attraction and home to the historic 765 steam locomotive, on the north side of the St. Marys to the east of Wells Street. Expanding Lawton Park into an active adventure area for all ages.
Page 10 GFW INC DOWNTOWN Possibilities include a sandy area with water features, a rock climbing wall, improved skate park and a boat dock. A lake-like area could be created by pulling back the shoreline near Lawton. Building pedestrian bridges over the confluence of the three rivers. The bridges would have multi-colored lights and would create what SWA Group calls a sphere of confluence. Improving the boat launch, restoring natural habitat and building a new Urban Ecology Center in the Bloomingdale and Guldlin parks area. I m encouraged about the possibilities for our riverfront, said Fort Wayne Mayor Tom Henry. The recommendations will serve as a road map for creating a dynamic downtown riverfront that attracts residents, visitors and private investment. We ll continue to build on the momentum we re experiencing in our City as we invest in the future. City leaders tonight emphasized that development along the rivers will take time. Potential projects will be done in phases over decades. Public-private partnerships will need to be formed for potential Thomas initiatives to get started and be successful. SWA Group will provide a final report to the City in the next several weeks and staff from all City divisions will review the report and develop ways to begin implementation. We ll be creating action steps in three areas: programming, maintenance and development, said Pam Holocher, the City s Planning & Policy director. One of the first things we can do is open up views of the downtown riverfront by removing invasive plant species, dead trees, debris and trash. We can also begin by pruning trees and shrubs and working to control erosion. SWA Group was hired in November 2013 to complete the riverfront study, which is the first comprehensive look at enhancing the city s rivers. Citizens wanting to stay connected to the Riverfront Fort Wayne initiative should visit www.riverfrontfw.org and sign up for the electronic newsletter. LOCAL RESTAURANT ANNOUNCES PLANS FOR RIVERFRONT EXPANSION The Deck sits on the St. Mary s Riverfront, behind Don Hall s Old Gas House. Owner Ben Hall said his willingness to expand on the riverfront may be a catalyst for future development. We ve been in this location since the late 50s we ve seen the glory days of downtown, said Hall. Downtown resurgence over the past half a dozen years has been remarkable. The proposed expansion would add seats for an additional 60 to 70 diners and add a lobby where guests can wait for a table. The Deck currently seats about 85 in the dining area. The Halls hope to break ground by spring.
Page 12 WINTER 2015 DOWNTOWN
Page 13 SPRING 2015 DOWNTOWN BY THE NUMBERS Census Data Allen County Population, (2013 est.) Population change (Indiana s = 1.3%) Fort Wayne Population (2013 est.) Fort Wayne Metro Population (2014) Unemployment Rate (August-2014) Downtown Employment (2011) 363,014 2.2% 256,496 416,851 4.9% 16,309 Top Downtown Employers City of Fort Wayne, Citizens Square Allen County Government, Rousseau 1,814 1,605 Lincoln Financial 1,970 Saint Joseph Hospital 1,087 Ash Brokerage (est 2017) 350 Fort Wayne City Schools 4,230 Indiana-Michigan Power 451 Fort Wayne Newspapers 404 CONTACT: Kirk Moriarty Director Downtown Business Development 260-203-5770 kmoriarty@greaterfortwayneinc.com GreaterFortWayneInc.com