The Montgomery County Land Bank has been given the okay to go forward with the acquisition of the historic Centre City Building in downtown Dayton.
Dayton City Commissioners gave approval after a vote on Jan. 8.
The Land Bank said it will redevelop the 21-story, 254,000-square-foot complex of three buildings at Fourth and Main streets.
Constructed in 1904, the buildings served as the United Brethren Publishing Building.
Placed on the National Register of Historic Places in 1993, it’s also considered Dayton's first skyscraper.
The City of Dayton has allocated $4 million from its development fund to support the acquisition, with another $2 million coming from the city’s portion of the American Rescue Plan Act will be used for redevelopment, including architectural and engineering work.
The building has gone through several ownership changes since the 1990s but sat empty for the past decade.
Final rehab of the complex is expected to be a $110 million mixed-use property with more than 200 housing units.
City Manager Shelley Dickstein called the key property because of its proximity to other Dayton attractions like “Levitt Pavilion, the Dayton Convention Center, the Dayton Arcade, Courthouse Square, the Fire Blocks district, the recently restored Deneau tower.”
Dickstein says there are a number of other planned development sites that support the Centre City Building restoration.
