Support The Square
Posted by Jeff Pruitt - 10/6/08 @ 9:23 am - Filed Under Featured, Local Politics
Chuck Surack, president of Sweetwater Sound, penned a letter-to-the editor last week supporting Parkview’s decision to buy the naming rights to the new downtown baseball stadium. In that letter he argues against some of the very criticisms that have been levied by commenters here at FWP. But I want to zero in on this comment:
Parkview CEO Mike Packnett is on record as saying, “Harrison Square clearly comes under the heading of a critical economic development project – for Fort Wayne, the region and for Parkview. Downtown Fort Wayne is at the heart of the economic well-being of the entire region.” I couldn’t agree more, and that’s why a vast majority of the business leaders in this community, including myself, have supported Harrison Square.
Really? What has Surack done? What have the vast majority done? I recall numerous bankers touting the importance but yet there’s no financing. Barry Real Estate hasn’t even been able to sell more than 10 lousy condos.
This “support” seems akin to plopping a Support the Troops magnetic yellow ribbon on your car, or in Surack’s case his helicopter. Maybe that’s how Barry Real Estate can get their financing; make a bunch of Support the Square memorabilia and sell it to the masses. Supporters can at least do that much right?
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17 Responses to “Support The Square”
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It’s great that Sweetwater has been successful and expanded here. But it would also be great if the mayor or even a city councilman would come out with the idea that “Ok, we have all the pieces. Let’s try to make what we have work right now.” The Amy Welborn/Nancy Nall idea that people glory in the idea of Fort Wayne failing is disgusting.
We have the Grand Wayne, Embassy, Parkview Field and the Library. Forget about North River and whatever else for now. Admit the mistakes made and now cheerlead the idea that its time to make what is here now (will mostly here now, lol) work, including people who have the means to invest as well as the common Joe and Jane. Hearing that a project (North River, HS) is just another piece of the puzzle sounds like a glass that can never be full.
Everything I wrote above is pretty naive I suppose. I would be interested in renting the PVF for an athletic event but I doubt they would let me, and/or that I could afford it… Same for Grand Wayne…
“Downtown Fort Wayne is at the heart of the economic well-being of the entire region.” I’m sorry, but I think his business is located on US 30 almost out of the county. If some of these businessmen were so concerned about downtown Ft Wayne, I would think they would actually put their money there. Or has he purchased a condo? How about season tickets with his own tin cap? I will defend the library project because it also benefitted branch remodellings throughout the county.
Steve,
But the branch remodelings were ONLY done so the downtown project would seem more palpable to folks. The main branch was $65 million- the remaining branches totaled out at less than $15 million.
Jeff, you wrote “I recall numerous bankers touting the importance but yet there’s no financing. ”
Really? Have they been asked to finance the building?
Well, kevin, Barry Real Estate claims they haven’t been able to get financing. Perhaps you are right, and they haven’t thought to ask a Bank.
Financing really isn’t the issue. The Richard’s administration assured council that our “partners” are people of immense wealth, so much so that it is unnecessary and even insulting to ask to see financial statements.
Barry cut a really good deal on the stadium. Turns out that their deal on the condo/retail is not so good. They seemed to have found a solution in keeping the stadium deal (even getting a free 3-way liquor license and adding a new friend to the Capital Improvement Fund board along the way), and walking away from the condo deal. Neat trick.
But hey, it’s all a great big, wonderful catalyst.
I think folks are tired of talking about Harrison Square, not because it is right or wrong, but because it doesn’t matter what anyone thinks.
The Administration continues to stonewall requests for all information surrounding the deals made, and the City Council appears tepid about demanding infomration to include a valid accounting for what has been spent to date, where are we in the schedule, what are the risks to the project, and what are the mitigation plans for those risks.
Were it me, I might demand answers on Harrison Square from the adminsitration before considering their budget. Once satisfied with the presentation of information requested, I would then recommend some responsible cuts to the budget to realign for the impending reduction in State funding of local Government in future years.
I am not certain there is will to do any of it.
Mark,
I have not heard Barry Real Estate say that there is no funding available. (though I may have missed that).
I have heard them say that funding is NOT FAVORABLE until a certain number of units are sold. (sounds like responsible banking to me!)
Having said that, I do think that Council needs to have Barry Real Estate come to the table with some answers. True, there is no real “penalty” clause in the contract. But the bad publicity is not good for them or the overall project.
Part of being a successful business person is knowing who’s toes to avoid stepping on. If you own a business, do you really want the mayor mad at you? I think that this is why there were fewer business people publicly opposed to the project than there were who supported it. These guys will pretend to support whatever seems politically prudent, then quietly on the outskirts or outside of city limits.
The fact is, the economic future of Fort Wayne does not hinge on any single section of the city. Our city, like every other city, is dependent on outside trade. When the Fort was first built, the rivers were an asset because the fastest way to transport goods was by water. Rail replaced the rivers; now the highways are the primary route for shipping goods out to other markets. This is why businesses are relocating to the area around the interstates.
How long until we can declare this trainwreck a disaster and get some federal funding?
I agree that future economic success for the city does not hinge on downtown. Why then are we so focused on downtown projects such as HS and North River and now the Dimension property on Jefferson?
A revitalization of the Glenbrook area is being left to private developers as new buildings for Glenbrook Dodge, Target, the old K-Mart Plaza and the Ice Rinks clearly indicate. The new owners at Glenbrook might have have joined the party except for a 500% increase in taxes on that property over five years.
Ditto for Jefferson Point and the shopping centers that surround it. Target is once more in the forefront.
With new centers such as Chapel Ridge and the Lima/Dupont strips, downtown is left as the place for legal, financial and professional services. Encourage private capital build some offices to accomodate those businesses …but government has to get out of the real estate business.
“Why then are we so focused on downtown projects such as HS and North River and now the Dimension property on Jefferson?”
My guesses are:
1. Nostalgia for a time when downtown was the place to shop and meet new people.
2. People who live or work near downtown go to more city council meetings.
3. It’s the part of town that city officials have to look at every day.
4. It’s the part of town that newspaper reporters have to look at every day.
I would suggest a solution to the bankers’ “financing” of H/S…
“Money, meet mouth…mouth, meet money”.
Problem solved.
;)
B.G.
I also think it is amazing that several bankers spoke in favor of the project; yet, “there is no financing available.”
Mike
Given the recent economic reality, people should be wondering, what if the hotel and condos NEVER materialize.
I believe there is an increasing probability of that happening. Think about it, Hardball can blame the Bush economy, they will get their new venue, and never have to deliver on the rest of the project claiming depression.
Just ask yourself, where are we on condos and retail sales, and why hasn’t the ground breaking for the hotel occured? When is it scheduled?
Anyone know the answers to these questions?
Fred, That reality is exactly what I was worried about in my “The Harrison Situation is Dire” post. It would be nice to get some straight answers from the city and the developers on this. It looks like we’ll have to wait until the middle of November though as that’s when council will be calling them back to the table.
The hotel is already 6 months behind schedule as they originally claimed it would be ready by Fall of 2009. They later revised it to Spring of 2010. Of course one local paper’s editorial board considers this “on schedule” but they don’t know enough to ask intelligent questions so why should we be surprised.
The groundbreaking is supposed to happen by the end of the year…
As I reported last week, at least two of the contractors who were to be “subs” on The Harrison have told me that they have heard “It will never happen, so figure on using your workers on other projects” - this by the prime contractor. So, to enable meeting the “pay-back” of the lease/bonds for this boondoggle, Fort Wayne taxpayers will likely become the ONLY source of funds to pay back the bonds - al la Fort Wayne International Airport/ Kitty-Hawk and Burlington Air Freight and the property-tax-backed bonds that are and were due on these nightmares.
John - Can you list the name of the politicans who were in office and supported HS? I would like to ask them a question : )
(And I ask you because I know you’ll have the names in your head).
Jeff - Tom Hayhurst, Sam Talarico, Tim Pape, Glynn Hines, Tom Didier and John Crawford on city council, mayor Graham Richard on city. Then all three of our Allen County Commissioners, our county prosecutor and at least 5 of our county council members. I’m sure there were others, but these were the ones that come to mind.