City officials recently joined neighborhood leaders, Delagrange Homes, Ideal Builders, and Lancia Homes to break ground on Renaissance Pointe, a major development that includes plans for nearly 400 new homes and the renovation of more than 100 existing homes near downtown Fort Wayne. Renaissance Pointe is a 36-block area bounded by Creighton Avenue, Pontiac Street, Hanna Street, and South Anthony Boulevard.
Area builders like Delagrange Homes and Ideal Builders have created a variety of home designs and floor plans that match the architectural character of existing homes in the neighborhood. Mansur Real Estate Services, Inc. of Indianapolis is the master developer for Renaissance Pointe. Mansur’s experience with this type of development includes the Fall Creek Place neighborhood revitalization in Indianapolis. Homes in Renaissance Pointe will range in price from just below $100,000 to as high as $200,000.
National City Bank is financing $900,000 of investment in Renaissance Pointe, including the six model homes that will showcase some of the builders’ designs. The model homes are scheduled to be completed by October.
In addition to new and renovated homes, Renaissance Pointe will have a new greenway trail, new street lighting and streetscape enhancements, alley upgrades, curb and sidewalk improvements, traffic calming, and stormwater upgrades. The YMCA of Greater Fort Wayne recently announced plans to build a $7 million state-of-the-art center in Renaissance Pointe. The total in private and community investment is estimated at $70 million.
Renaissance Pointe is part of a national trend toward near-downtown living. The targeted housing market includes existing neighborhood residents, young professionals, newcomers to the region, and individuals and families anxious to live close to downtown amenities including dining, shopping, culture, and entertainment.
Special financing incentives are available to qualified new homebuyers in Renaissance Pointe as well as lower-income buyers including down payment assistance grants, tax abatements and other incentives. National City Bank and Fifth Third Bank are offering lower mortgage rates to qualified buyers. Rehab incentives are also available for current Renaissance Pointe homeowners. The U.S. Department of Housing and Urban Development is participating with initial funding assistance for Renaissance Pointe.
A recent study by Zimmerman/Volk Associates, Inc. found a demand for housing in southeast Fort Wayne, a finding bolstered by a 2004 Metro Edge Retail Market Study that identified southeast Fort Wayne as having higher retail potential and buying power than many zip codes in Allen County.
For more information, visit www.rpointe.org
Graham Richard Mayor
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