FORT WAYNE, IND. (WOWO) Fort Wayne leaders have approved plans for a new hotel development on the city’s southeast side, a project officials say could help attract additional investment to an area that has seen limited growth in recent years.
The Fort Wayne City Council voted 7–1 Tuesday night to move forward with the $9.5 million project at 1661 South Phoenix Parkway, next to a Menards store. The property had remained vacant for more than two decades before it was purchased by developer F&D Hospitality Group LLC.
Under an approved tax abatement plan, the developer could save approximately $1.3 million in property taxes over the next ten years. Even with the incentive, the company is expected to pay roughly $1.6 million in property taxes during that time, according to details reported by WPTA…