New apartments add to downtown growth
Leasing begins on 43 units near UD, hospital.
Leasing has begun for 43 new apartments on Warren Street near the University of Dayton and Miami Valley Hospital.
Leasing has begun for 43 new apartments on Warren Street near UD and Miami Valley Hospital, and developers hope to get to work on new condos next door later this year.
The Flats at South Park, located at 619 Nathan Place, are expected to open for move-in March 1, and there have been several commitments from residential tenants, said Bill Hibner, director of construction services for developer Oberer Thompson Co.
The four-story building also has about 10,500 square feet of firstfloor retail space that so far does not have commercial tenants.
The apartments are a mix of studios and one-bedroom and two-bedroom units.
Apartments will have a contemporary style featuring quartz
countertops, wood-look vinyl flooring in the kitchens and living areas and Juliet balconies in most apartments.
The building will have a roof top lounge and a community area with games and other amenities.
The Flats property is located just north of the Brown Street business corridor, Miami Valley Hospital and the University of Dayton.
Oberer has asked the city to approve its plans for the next stages of development in that area.
The company plans to build a three-story structure just south of the Flats on about 1.2 acres of land.
The building is expected to house between 27 to 30 new condos for purchase, which would start at about $200,000, Hibner said. Oberer is moving forward with the marketing and design of the condos, which hopefully would break ground before the end of the year, he said.
All three floors would contain condos. Sizes are expected to be around 1,200 to 1,500 square feet. Parking would be underground.
A future phase of development calls for building new housing on 4.7 acres of land that previously was home to the Cliburn Manor public housing projects, which were demolished nearly a decade ago. The concept plan likely would include a mix of single-family housing, townhomes and flats.
There are nearly 450 new housing units in the pipeline in downtown Dayton, and more definitely could be in store. Downtown’s apartment market leads the region with a 97.5 percent occupancy rate, according to the Downtown Dayton Partnership
The Water Street District, which has already dramatically transformed the northeastern section of downtown Dayton, could add even more housing and offices to the rapidly growing mixed-use development.
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 recently shared a map of the Water Street District that noted some opportunities for future redevelopment.
“We have a lot of oppor- tunity to grow the district,” Woodard said.
The Water Street developers are adding more apartments just east of Fifth Third Field at a property they purchased earlier this year.
The Water Street developers Crawford Hoying and Woodard Development have a purchase option for most of the property in the Deeds Point area, which is located north of the Mad River and belongs to the city of Dayton.
The firms are exploring development options, and housing would likely be the driver given the great views of downtown, officials said.