Developers speak on Electric Works future

Developers speak on Electric Works future

Good evening, i'm hunter petroviak.

Thanks for joining us.tonight -- developers with the electric works project say there is still hope for the two hundred sixty million dollar project.they say even in the last few weeks..they're still working on bringing possible tenants in.fox 55's chris mullooly joins us live in fort wayne,chris -- what key points did developers make about the projects future?

Hunter -- right now they have 77 percent of the private equity and tax credit equity for the project...and 61 percent of the building pre-leased...basically developers say when with do it best -- the main anchor tenant -- got on board... they had the hard work down.they say there was still some work to do..

But they were heading in the right direction...and are confused why the mayor and the redevelopment commission pulled the plug.

3 financing is in place ready to go all elements are ready to go to closing trying to bring the local funding backkevan biggs with rtm ventures... the developers behind electric works says they're still ready to go forward with the project.

Holding a virtual forum with business leaders ... councilman geoff paddock and developers...the consensus on the board was there's still time to fight to bring it back.

Very unfortunate decision that shocked all of us on august 3 councilman paddock says the anchor tenant do it best was the main reason he hopped on board ...the global lumber manufacturing company headquartered in fort wayne is one of the biggest companies in allen county.the economic project developers say electric works is the biggest in indiana.paddock says to keep the project going..

Is to keep do it best in the cityto our city and our region and of course the fact our anchor tenant do it best we must see stay here in fort waynebeth townsend with greater fort wayne says the company came to them and said the only place they would be able to relocate would be inside the g-e building.not only in failing to close electric works as it stands would be a problem but it would be combined with the magnitude of the loss of this employerand developers say despite the redevelopment commission pulling out ... support is still strong.biggs says none of the tenants have backed out... and they're continuing to receive calls.in the last thirty days possible prospects for 150 thousand square feet of space in the campus.construction jobs would be around two thousand..the panels main focus was urging those watching to contact local city and state leaders... to try and bring electric works back on the right path.

Reporting live ... ?????????

... fox 55 news.