Fire Blocks developer acquiring more downtown properties
Company will unveil plans for growing redevelopment Aug. 24.
The new developer of the Fire Blocks District in downtown Dayton has doubled the number of properties it owns, saying it doesn’t have concerns about overextending itself while working to rehab what officials call a key proj- ect in downtown revitalization.
The Windsor Companies says it now controls three additional buildings in the district, adding to a portfolio that already included most of the 100 block of East Third Street.
The Columbus-based company’s initial phase of its redevelopment project calls for spending about $35 million to create housing, revamped and new office spaces and first-floor amenity spaces.
Windsor Companies will show- case the kinds of commercial spaces it plans to bring to the center city during a launch party on Aug. 24.
The event, partly, is meant to gather feedback about what the community would like to see come to the district and will guide decisions about what kinds of tenants and companies to target, said Eric VanZwieten, head of marketing and public relations with the Windsor Companies.
Windsor Companies does not have the same concerns as the last developer because it has the capability to do the construction in house, VanZwieten said.
“The real question for us is what other opportunities exist in Dayton that are a good fit with our sweet spot, which is transforming historical gems into architectural masterpieces and creating innovative spaces and thriving communities,” he said.
The Windsor Companies took over the project to redevelop the Fire Blocks after the previous owner and developer’s plans fizzled out.
The Ellway Group, headed by Winfield Scott Gibson, proposed a $100 million investment in the district to transform multiple empty and underutilized buildings into flashy new spaces.
Members of the Ellway Group purchased about nine buildings in the district and around the downtown area. But redevelopment plans failed to move forward after years of setbacks and delays.
The issues caused some observers to question whether Ellway Group became overextended after acquiring so many properties.
Windsor Companies said it owns and controls the Elks building (100 E. Third St.), the building at 124 E. Third St. and the Huffman Block building (111-129 E. Third St.).
Windsor Companies says it now has acquired the Price Stores building (52 S. Jefferson St.), a small, two-story building at 132 E. Third St. and the DP&L building (18 S. Jefferson St.).
All six of the buildings recently belonged to the Ellway Group or its members. The company plans to create new commercial and residential space, with the help of state historic tax credits.
Windsor is not concerned about overextending itself because the company has more than 1,300 residential units and more than a half million square feet of commercial space in its portfolio outside of the Fire Blocks, VanZwieten said.
“We are not new to this type of redevelopment,” he said.
Site assembly is a natural part of development strategies, and it makes sense that Windsor would want to acquire some adjacent properties that were part of the prior developer’s plans, said Scott Murphy, vice president of economic development for the Downtown Dayton Partnership.
The Fire Blocks is an important piece of the puzzle for the overall downtown revitalization strategy because it is a key connector between the Central Business District Webster Station, he said.
“Activation of that block will strengthen walking connections and street-level vibrancy that will really connect the core to the Oregon District and the eastern quadrants of downtown,” he said.
Crews on Tuesday were removing and repairing the roof of the DP&L building. Interior, exploratory demolition is going on in the other structures.
Windsor Companies said its ground floor spaces in the Elks, the 124 E. Third St. building and the Huffman Block buildings will be in leasable condition within nine months, and housing will open in upper levels of the Elks and Huffman buildings about three months after that.
Windsor Companies’ first project in the district is to build out its own offices in nearly 2,000 square feet of renovated space of the ground floor of the 124 E. Third St. building.
On Aug. 24, the company’s offices will be open to the public during a promotional event and will serve as “Club Fire Blocks,” which will give visitors a chance to see and learn about the district firsthand and get a glimpse of the developer’s vision. Reservations can be made online at fireblocksdistrict.com.