Fort Wayne, IN (INDIANA'S NEWSCENTER) -- An exclusive, candid discussion with Fort Wayne Mayor Tom Henry about potential big changes to the Harrison Square condos.
Something that Henry is asking the developer to explore, but could force him to withdraw his personal support for the project.
In this troubled housing market, few finding buyers are committing their cash to the Harrison Square condos.
So we asked Mayor Henry -- who's in regular contact with the developers -- whether they still required a certain number to be sold before the project would move forward.
Mayor Tom Henry\(D) Fort Wayne: " They would like to, certainly. That way they're guaranteed the cash flow necessary to continue the operation. And that's why we're going back to them. We're talking about other options that might be available to kick start the thing."
Reporter: " What other options are there?"
Mayor Tom Henry\(D) Fort Wayne: " I think that there's other mixed use that can be made available, as far as housing. Perhaps a combination of condominiums and upscale lease rental apartments."
Mayor Henry and his wife have publicly supported the condos, even guaranteeing a shot at one with a $1000 down-payment.
And Henry confirmed the developers told him his name was quickly coming up on the list to decide whether to commit.
Reporter: " Will you buy one?"
Mayor Tom Henry\(D) Fort Wayne: " I don't know yet. Again, right now, we still are very excited about the possibilities. But again, it all depends on what the developer ultimately comes up with. If they stay with a full condominium design, then we're very interested. If they go mixed-use condo and apartment complex, then we're going to have to take another look. Or if they go completely apartment, we'll have to take another look. Or if they put something else entirely different, I don't know, I'm not a developer, but we are asking them to come back with a number of different options."
The fact that Henry wants to help "kick start," as he says, the condos as mayor, could end up costing the development its most high-profile potential investor, as Tom Henry, private citizen.
It will be interesting to see what kind of ripple effects his remarks will have on the project.
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