Client challenge:

PB Development was leading the private side of a public-private development to extend downtown Fort Wayne into a walkable riverfront district anchored by a new arena and events center projected to drive more than 430,000 annual visits. With 493 residential units, 90,000 square feet of Class A office and roughly 58,750 square feet of retail and restaurant space on the table, PB Development needed to determine the optimal mix of uses and identify how the project could be structured to reduce risk and remain viable from a private-sector perspective.

Approach:

Feasibly conducted a market feasibility analysis paired with project-level financial modeling covering:

• Commercial real estate market analysis across the Fort Wayne region, drawing on client data, proprietary datasets and third-party sources

• Housing demand modeling across market-rate apartments, workforce/garden units and build-to-rent brownstones

• Office market demand analysis for the 90,000 square feet of proposed Class A space

• Captureable retail demand isolation for the proposed retail and restaurant footprint

• Operating and financial models for each component — multifamily, office and retail — built from PB Development's perspective

• Scenario analysis quantifying how different combinations of public financial support and infrastructure improvements affect project feasibility

Benefits to client:

The work gave PB Development a clear private-sector view of how the North River District is viable today and how specific public participation and infrastructure investments can further de-risk developer execution. The market and financial outputs equipped PB Development to refine the use mix, advance partnership conversations on the public side and move toward Phase I delivery, targeted for the end of 2028.