FT. WAYNE, IN—Many downtowns throughout the Midwest have startedto undergo startling transformations, and AshBrokerage, the largest independently-owned insurancebrokerage agency in the nation, has just launched a $98 millionmixed-use project that promises to do the same for Ft. Wayne. Thefirm will build an eight-story, 95,000-square-foot, $29 millionheadquarters building in the city's downtown by 2018. Ash will moveits 200 employees to the new building and add another 115.

Also as part of the project, Hanning & BeanEnterprises will develop a $30 million, 17-storyresidential tower of 100 townhomes, apartments and condos. Bothprojects will sit on top of a city-owned 1,200-space parkinggarage, which will have retail at street-level.

The Allen County Fort Wayne Capital Improvement Board ofDirectors recently voted unanimously to increase its stakein the project from $6.5 million to $10.5 million; the increasedamount will help cover the cost of a larger parking garage, whichhad been planned for only 750 spaces. In addition, the cityoriginally expected to contribute about $19.5 million from varioussources toward the project, but that has now grown to $39 million,plus $10.5 million in interest and debt costs.