RTM Ventures secures $62 million loan to Electric Works redevelopment project

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RTM Ventures has secured a $62 million loan required for the proposed renovation of the former General Electric campus near downtown.

Kevan Biggs, from RTM Ventures, told the Fort Wayne City Council that they were able to get the loan from Midland States Bank.

The project is expected to create approximately 2,400 construction jobs over about two years, according to Biggs, reports Fwbusiness.com.

Electric Works plans to redevelop the west side of the former General Electric complex at 1030 Swinney Ave. off Broadway. The project will create more than 1.2 million sq. ft. of space for office, educational, innovation, retail, residential and entertainment uses.

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