FORT WAYNE, Ind. (www.incnow.tv) -- The Indiana Housing and Community Development Authority will award the Randall Lofts apartments nearly $675,000 annually for the next 10 years in rental housing tax credits.
Carmel-based RealAmerica Development is planning to convert the historic building at 616 S. Harrison St. into one and two bedroom apartments. Floors two through five will become home to 44 apartments. Construction will most likely begin in the late summer or early fall.
“This is good news for downtown Fort Wayne,” said Heather Presley-Cowen, deputy director of the Office of Housing and Neighborhood Services in a press announcement. “This is yet another development that will contribute to the revitalization of the area, bringing residents downtown to live and shop.”
This turn-of-the-century structure is the largest Victorian commercial block in Fort Wayne and is on the National Register of Historic Places.
The estimated cost of the renovation is $7.5 million with the City of Fort Wayne contributing $600,000 in federal Neighborhood Stabilization Program 3.
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