I like the mixed-use concept. It's an appealing idea to be able to live in an apartment in a building that also has things like retail space and a restaurant or bar. But I wouldn't spend $200,000 or $300,000 or whatever they're going to end up asking for a condo in Harrison Square. And I don't think I'll be relocating the proposed "Restaurant Row" on Superior Street, either:
John and Mike McKay of Hartland Development delivered their presentation Monday to the Fort Wayne Redevelopment Commission for what they'd like to install in the city-owned lot next to Club Soda: dual, mixed-use, four-story buildings with 21 loft units in the top two floors. The first floor of the two buildings would likely house restaurants, retail or commercial space.
[. . .]
Due to the current economic climate, the McKays said the lofts will be for rent to make them more appealing, rather than marketing them as condos. Projected monthly rent for the 21 units is between $1,300 and $1,500.
OK, they'll be lofts, and lofts are cool, but $1,300 to $1,500? Does anyone else think that's outrageously high for a 1,300-square-foot rental in the Fort Wayne market? Do you know how much house a monthly payment like that would buy? Or how much more apartment you could get for less? Just which demographic groups will this be marketed to?
