The ground was officially broken at Dayton’s Water Street apartment development Thursday morning. The 215-unit luxury apartment complex is part of an investment partnership between Columbus-based Crawford Hoying and Dayton based Woodard Real Estate. The original plan called for fewer units and less money invested, but the project has expanded since it was first announced.
A lot is happening these days within about a block of Fifth Third Field: a new building is going up at Tech Town, and there are trucks and bulldozers galore down by the riverfront working on the $45 million dollar Water Street District, which will also include an office building and parking structure next to the riverfront where the Mad River and the Great Miami meet.
PNC Bank is planning to move its downtown offices into the office building next door this summer, and developers recently secured a deal with SNAP fitness to open up in that building as well.
Alan Pippenger, president of nearby Requarth Lumber, says the area’s been through a lot.
“We’ve lost a lot of our manufacturing jobs, the Harrison radiators, the Delcos, but what’s emerged is a really lively mix of retail, entertainment and business services,” he said.
More downtown housing is part of the city’s Greater Downtown Dayton Plan, and Dayton Mayor Nan Whaley says getting housing on this land on the riverfront has been in the works more than 10 years. The first apartments should become available in August of 2015.
Lewis Wallace is WYSO’s managing editor, economics reporter and substitute host. Follow him @lewispants.