Another upper-income housing addition is underway near Parkview Regional Medical Center.
The $10 million Milagro subdivision will target executives, management employees and physicians. “Milagro” is Spanish for miracle. Ric Zehr, director of development strategies for the Northeastern Group, said the project will play off another residential venture by the company.
This year, crews began the final phase of Hawthorne Park Estates, a subdivision on the south side of Crawford Road near Parkview with about 70 homes.
Milagro will start off with 40 houses costing $350,000 to $500,000. The addition is at the southeast corner of Crawford and Auburn roads.
“When I was putting this together, my father said it was a miracle, so we called it that in Spanish,” said Zehr, who speaks the language fluently. “We really do have a lot of confidence in the area and expect it to grow. Parkview is a factor, but other (businesses) it is drawing are playing a role.”
Homes in Milagro will be surrounded by 10 acres of ponds that Zehr said will wrap around the neighborhood, where homes will start at 2,500 square feet.
The $550 million Parkview complex was completed March 2012 at Interstate 69 and Dupont Road.
Zehr said his project is open to all builders.
“There is a lot of confidence, and people are ready and looking to build,” he said. “These homes are a higher price point, but the market is strong right now. It hasn’t been like this for a number of years.”
Based on Zehr’s filing for the project Wednesday, it will be reviewed by the Allen County Plan Commission in coming weeks.
Hotel in the works
Hoosier Park in Fort Wayne may make way for a $6 million hotel.
A four-story lodge will rise on the site of the off-track betting complex at 1820 W. Washington Center Road by early 2015, Jaikar Inc. President Jason Patel said Wednesday. He met a filing deadline this week with the Fort Wayne Board of Zoning Appeals, which must approve a height variance.
The development will create up to 35 jobs with a median salary of $50,000 annually. The hotel will feature Wi-Fi throughout, conference space for up to 1,000 people, a business center, swimming pool and hot tub.
“We may add a bar as well,” Patel said.
His endeavor will result in the betting complex having to find new digs. Hoosier Park spokesman Grant Scharton said the business has no intention of leaving the Fort Wayne market and is pursuing a new location. It would likely rebrand itself as a Winner’s Circle Pub, Grill & OTB.
“It would be like the one we have in Indy,” he said.
Patel also built a $5 million, four-story Hampton Inn at 3520 E. Dupont Road two years ago.