WATER STREET ADDS TO DAYTON GROWTH
Dayton’s downtown expected to see more residences, businesses.
New housing, amenities and mixed-use developments have completely transformed formerly struggling and ho-hum sections of downtown Dayton, and the pace of revitalization is accelerating, with some major and potentially catalytic projects nearing lift off.
The thriving Water Street District, which has helped fuel downtown’s growth with nearly 350 housing units and new office and commercial spaces, is looking at adding new condos, apartments and other new working spaces and destinations, according to information shared Tuesday as part of the Downtown Dayton Partnership’s annual special improvement district meeting.
Since 2010, the amount of private and public investment in downtown has topped $932 million, the partnership said.
The resurgence shows no signs of slowing, according to the partnership, since there are about $428 million worth of projects under development, including the Levitt Pavilion Dayton, the Dayton Arcade and downtown’s first new office tower in years and its first new hotel in decades.
“We have seen over $1.3 billion in investment in our downtown,” said Sandy Gudorf, president of the Downtown Dayton Partnership. “Some projects are completed, others are in the pipeline.”
Downtown has been on a roll, and its housing market got the
Since the launch of the Greater Downtown Plan seven years ago, downtown has added 759 new housing units, helping increase the total number of market-rate housing in the core to about 1,517 units, the partnership said.
Additionally, there are nearly 450 new housing units in the pipeline, and more definitely could be in store. Downtown’s apartment market leads the region with a 97.5 percent occupancy rate, the partnership said.
The Delco Loft apartments, next to Fifth Third Field in the district, opened several months ago and 110 of the 133 units are leased, said developer Jason Woodard, principal of Woodard Development.
The 215 Water Street apartments along the Mad River are 100 percent occupied, and 54 new apartments are under construction.
Woodard on Tuesday shared a map of the Water Street District that noted some potential future redevelopment projects.
“We have a lot of opportunity to grow the district,” Woodard said during Tuesday’s meeting.
This included a new fourstory building, with 110 apartments and 10,000 square feet of retail space, just west of the ballpark at a property the developers purchased earlier this year.
New housing also could be targeted for a grass lot just west of the Delco Lofts, next to the Lincoln Storage building. Developers are potentially looking a 60 new apartments over street-level retail and a parking garage, the map states.
A new, four-story office building could be built just south of the Water Street apartments.
The developers also are interested in constructing 48 new condos across the river at Deeds Point. The project could feature townhomes and flats.
A study by the partnership earlier this year found that downtown is underbuilt by more than 1,350 apartments and 950 condos.
Aside from housing, downtown is on track to welcome its first new hotel in decades in the Water Street District, and not far from there, it will get a new office tower, which is being built by CareSource.
A massive rehab of the Dayton Arcade could get started early next year, and construction could get underway this year on the Levitt Pavilion Dayton, a new outdoor music amphitheater planned for South Main Street.
This view shows the Water Street apartments along the Mad River from the north side of pedestrian bridge that leads to Deeds Point. Water Street developers are looking at possibly building housing in the Deeds Park area.
People walk by the Water Street apartment development along the Mad River in downtown Dayton. Fifty-four new apartments are under construction.