Fort Wayne’s Riverfront Gamble Pays Off: Public Park Investments Attract More Private Capital

Written by:

Rudi Davis

Date:

28 Jan 2026

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Fort Wayne city officials were given a bold promise by Swa, a global planning and landscape architecture firm: invest in top-tier public riverfront spaces, and private developers will respond with nearly $10 of private investment for every public dollar spent. Alec Johnson, Deputy Director of Redevelopment for the City of Fort Wayne, says that prediction has come true—and it is now reshaping the city’s approach to development.

Swa presented data from similar projects nationwide, showing that high-quality public investment routinely attracts a tenfold private response. Johnson recalls the firm’s core message: cities that create world-class public spaces see far greater private development than those that settle for basic amenities. “That public space needs to be world-class. You can’t design a small, uninspiring park and expect the same level of investment,” Johnson says.

Setting a New Benchmark for Park Quality

Fort Wayne put this theory to the test with Promenade Park, which opened in 2015 as the city’s first downtown riverfront park. The project marked a turning point, shifting local attitudes from viewing the rivers as obstacles to seeing them as assets. Johnson, who led the design team while in the parks department, says Promenade Park “completely changed how Fort Wayne feels about the rivers,” and the park won awards at state, regional, and national levels.

The logic behind investing heavily in public space runs counter to the practices of many mid-sized cities. Often, parks are built as cost-saving amenities, with budgets kept tight to preserve funds for other needs. But Johnson’s experience suggests that this approach may miss the opportunity to spur major private investment. “It was something Fort Wayne could feel proud about,” Johnson says of Promenade Park. He notes that the city is now working on a second phase of riverfront development, with two more planned. This ongoing commitment, he explains, creates an inviting environment for developers who see the value in building next to high-quality public spaces.

Developers Take Notice

The most substantial evidence for Swa’s 10-to-1 prediction appeared with the North River District project, a planned 29-acre mixed-use development on former industrial land by the river. When Fort Wayne issued a request for qualifications for a master developer, it received 20 responses from national firms—far more than the 3 to 5 typically seen for projects of this scope. Johnson describes this response as “insane” compared to experience.

He credits the surge in interest to the city’s visible investment in public space. Developers recognized that Fort Wayne had committed to a high standard and had a clear plan for future riverfront projects. This reduced uncertainty about the area’s long-term prospects and made private investment appear less risky.

This strategy has helped create a cycle of growth downtown. With about 800 new housing units set to open in the next few years—on top of studies showing demand for 275 to 290 units annually—more residents are moving downtown. That supports new retail and services, which in turn makes ground-floor commercial space more viable and attracts additional development.

Why Quality Matters

The 10-to-1 ratio is not automatic. Johnson stresses that public investment must deliver meaningful improvements in the development context. Cities that settle for modest or generic public spaces will not see the same multiplier effect. Swa’s prediction, he explains, was always contingent on design quality meeting a high standard.

This creates a challenge for cities considering the same approach. Delivering award-winning public spaces requires both funding and the ability to manage complex projects. Cities without these resources may struggle to achieve the level of quality needed to attract large-scale private investment.

Johnson’s background—a landscape architect and urban designer with 18 years in the parks department—helped Fort Wayne meet this challenge. He notes that when he moved into redevelopment, his experience in urban design was explicitly cited as a missing piece in the city’s economic development strategy.

A New Approach to Public-Private Development

Fort Wayne’s results point to a development model that reverses the usual order. Instead of waiting for private investment to justify improvements to the public realm, the city invests first, using high-quality parks and infrastructure to set the stage for private projects. This reduces risk for developers and makes new investments more attractive.

The city is now planning additional phases of the riverfront park, doubling down on the strategy that has delivered results so far. Johnson believes that other mid-sized cities could see similar returns, but only if they are willing to invest at a level that makes their public spaces truly exceptional.

Looking Ahead

Fort Wayne’s experience shows that strategic, high-quality public investment can unlock far greater private capital than traditional approaches. The key is not just spending money, but raising the standard for what public spaces can be. As more cities seek to revitalize downtowns and attract new residents, Fort Wayne’s model offers a clear lesson: quality and vision in public infrastructure can drive private investment on a scale that budget-driven projects cannot match. Whether other cities will follow suit may depend on their willingness to set a higher bar and their ability to deliver on it.