Downtown units to offer all-star views
New apartments will overlook Fifth Third Field.
Two developers with a track record in downtown Dayton have bought a former industrial property on First Street next to Fifth Third Field with plans to build new apartments overlooking the ballpark.
The plan is to demolish the existing building at 507 E. First St. — immediately east of and adjacent to the Dayton Dragons ballpark — and build new residential apart
ments with on-site parking, Jason Woodard, principal of Woodard Development, told this newspaper on Thursday.
e talking around 100 additional units, but we’re really very early in the design stage,” Woodard said.
Woodard acquired the property in a partnership with Colum- bus-based Crawford Hoying Development. Both companies partnered in the creation of the fast-growing, mixed-use Water Street District development near the Great Miami River on East Monument Avenue. A transaction price for the acqui
sition was not given. “This development is more good news for our downtown. The demand for downtown housing continues to remain very strong. With all the new investment in recent years, we are seeing more and more people who want to live downtown. Central to this demand is downtown’s walkability to new amenities, restaurants, the river, brewpubs and other attractions which are just minutes from your front door,” said Sandra Gudorf, president of the Downtown Day-
ton Partnership.
In recent years, the greater downtown area has seen more than $1.2 billion in investments ranging from new housing, businesses moving in or expanding, new amenities and other investments, according to Gudorf.
The same development team has already rebuilt a former Delco factory into the Delco Lofts building — also next to Fifth Third Field — and has broken ground on 54 additional apartments and on what will be downtown Dayton’s newest hotel, the 98-room Fairfield Inn & Suites by Marriott Hotels.
“The success there has really helped a lot in our desire to continue developing in that particular area,” Woodard said.
The area has proven to be “walkable” and close to plenty of downtown amenities. “It’s starting to develop into its own community,” he said.
John Riazzi, principal in St. Peter Partners LLC, is remaking a former Dayton Power and Light steam plant at 617 E. Third St. into an office and events building in his own $3.7 million project. He agreed that the entire Webster Station neighborhood is growing rapidly.
“I think it’s a great mix ... that Jason and his partner Scott (Laubie) have been fantastic in terms of working through that,” Riazzi said. “And (downtown residential developer) Charles Simms, obviously.”
A building at 444 E. Second St. has drawn a mix of Air Force researchers and civilian entrepreneurs. Second Street Market and Top of the Market events center are both nearby.
And Riazzi believes that the building at 607 E. Third has its own potential, perhaps as a boutique hotel, a concept he said Thursday that he favors.
“It’s an idea I favor, but there’s nothing in the works,” Riazzi said of a possible highend hotel. “This neighborhood deserves something like that.”
The plan for the newly announced apartments still needs to go through the city of Dayton’s approval and permitting processes, Woodard said.
The 507 E. First St. address had been home to industrial goods supplier Dayton Supply and Tool Co. for years until this summer. Jerry Kronenberger, president of Dayton Supply and Tool, said his company and its 30 employees moved to a nearby location at Keowee Street and Monument Avenue in June, vacating its former space.
Steve Peters, executive vice president, commercial sales and leasing for Miller-Valentine Group Realty Services, said his company represented the seller.