Mayor Tom Henry joined representatives from Miller-Valentine Group and Vincent Village today in celebrating the grand opening of Bottle Works Lofts, the historic rehabilitation of the former Coca-Cola bottling facility, 1631 E. Pontiac St.
Miller-Valentine Group and Vincent Village are co-developers of the project with Vincent Village acting as the supportive service provider, helping link tenants up with area services and programs.
The $14.5 million development includes 31 affordable rental units, on-site management office, community room, business center, media room, fitness center, outdoor shelter and indoor and outdoor playgrounds. Also included are 19 lease-to-purchase single family homes located throughout the Renaissance Pointe neighborhood. The homes were completed last year and are already leased to families.
The homes were built on vacant lots previously owned by the City of Fort Wayne. The City also owned the Coca-Cola building, which was constructed in 1943 and purchased by the City in 2012 in order to redevelop it.
Bottle Works Lofts helps fill a critical need for affordable housing. For example, the Fort Wayne Housing Authority has more than 2,000 applicants on its public housing program’s waiting list. Additionally, 41 percent of local renters are “housing burdened,” or pay more than 30 percent of their income in housing costs. This forces them to make decisions between necessities such as rent, food, transportation and medicine. Bottle Works tenants will pay rent based on their income so they will not be housing burdened.
“MVAH Partners is excited to become part of the Renaissance Pointe neighborhood and we look forward to providing affordable housing options to families in Fort Wayne.” Said Peter Schwiegeraht, senior developer for Miller-Valentine Group.
“We are proud to be a partner in this exciting development,” said Denise Andorfer, executive director of Vincent Village Inc. “The new rental units and lease-to-purchase homes provide excellent options for residents who are part of Vincent Village’s mission to move individuals from homelessness to self-sufficiency.”
“This is a great day for Renaissance Pointe and the City of Fort Wayne,” said Mayor Henry. “For the last seven years, we have been working to redevelop this historic building and make it an asset to the neighborhood instead of a blighting influence. We are grateful to Miller-Valentine and Vincent Village for their dedication to seeing this project to completion.”
Many organizations, financial institutions and government agencies are investing in the Bottle Works development, including the City of Fort Wayne through dollars provided by the U.S. Department of Housing & Urban Development (HUD); the Indiana Housing and Community Development Authority through federal low-income housing tax credits; PNC Bank through federal historic tax credits issued by the National Park Service; Federal Home Loan Bank of Indianapolis; and Old National Bank. Martin Riley is the local architect working on the project.
Leasing information can be found at www.mvahpartners.com/properties/bottle-works-lofts or by calling 260-402-9257.