The Affordability of Living Downtown (NBC33 VIDEO)

By Eric DeFreeuw - NBC33

November 1, 2013 Updated Nov 1, 2013 at 6:27 PM EDT

FORT WAYNE, Ind. (NBC33) – The idea of living downtown is nothing new, but it is something the city and its residents have been very passionate about for years.

There are a number of projects underway to either create or improve living units around the city's center, but the price tags of some of those living spaces can be staggering to some.

For city dwellers looking to own property, the city offers condos like the space at the renovated Anthony Wayne Building - priced between $130,000 and $350,000 - or the soon-to-be Ash Brokerage headquarters, which likely won't become available until 2015.

Those who may not be willing to commit long-term have plenty of options for apartments as well, at just about every budget point.

"We've got a diverse mix. We have apartments for as low as the $300 range and we have apartments that are well into the $2000’s,” points out Bill Brown, President of the Downtown Improvement District. “Some of the penthouse apartments are over $3000 that get leased. There's talk of some million dollar penthouses in the future in downtown, so there are all kinds of opportunities and we are very excited about the diverse mix."

Some of the new projects the city is working on offer a similar range in pricing.

"You have the Worthington Apartments that are in the $300 to $600 range. You have the Randall Lofts as I've mentioned that have a waiting list and those can run somewhere between $300 and $800. And once again we get into Three Rivers Apartments that's over 90 percent occupied that has rates anywhere from $475 to $2200.”

For renters or buyers looking to live downtown that are unable to get into one of those complexes, the West Central neighborhood is another option that currently has a number of properties available for rent or for sale.




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