The City of Fort Wayne held a groundbreaking ceremony Wednesday for what will be a brand new 131-home subdivision for the city’s southeast side.
Officials and developers say this marks the beginning of construction of “Roosevelt Reserves,” which developers say will be the “largest market-rate single-family housing development on the southeast side of Fort Wayne in nearly 50 years.”
They say Roosevelt Reserves is a project that aligns with the recently-adopted Southeast Strategy Update, which leaders hope will attract new owner-occupied houses, and allow families to build wealth through home ownership, and stimulate more investments in Fort Wayne’s southeast quadrant.
The site is on 126 acres off Hessen Cassel and Tillman Roads. Officials say the total investment will be nearly $40 million over three to four years.
“Roosevelt Reserves is going to be a tremendous development for our community by providing needed housing options. It’s one of the many reasons why I’m so enthusiastic about the direction we’re headed in southeast Fort Wayne. We’re bringing meaningful quality-of-life opportunities to residents, neighborhoods, and businesses. Collectively, our community has an unwavering commitment to making a positive and lasting difference in the southeast quadrant. We still have work to do, but we’re on the right track.”
Mayor Henry said.
The developer, Roosevelt Land Development Group, received approval from the City Council back in February to use Legacy funds to pay for part of needed public infrastructure improvements, including water, sewer, and street work.
Officials say the Roosevelt Reserves addition will offer lots to accommodate single and two-story homes with attached garages, with some lots having water pond views.
They say the lots are currently for sale, and developers anticipate that certain homes and custom homes in the addition will start in the mid-$200,000 range.