Apartment complex near Oregon District to open this month
4-story building with 158 apartments is at the site of the former Garden Station.
A Kentucky developer’s second housing project on the east side of downtown Dayton is almost complete, which will add 158 new mar- ket-rate apartments in an area that is being called Ore- gon East.
The 503 is a four-story apartment building with a small frontage on Wayne Avenue, stretching to the east between Fourth Street and the elevated railroad tracks. It is the former site of Garden Station, a com- munity garden and art park.
The east wing of the new apartment building is close to completion, and the west wing should be finished soon after.
Residents are expected to start moving in around mid May, and the remaining apartments should become available for move-in sometime in June, said Josh Mosher, director of asset management for the developer, Louisville-based Wey- land Ventures.
The 503 apartments, 503 E. Fourth St., will be on dis- play from 1-5 p.m. Saturday as part of the Downtown Housing Tour.
In 2017, Weyland Ventures opened a 40-unit apartment building called the Wheel- house Lofts across Fourth
Street from the 503 apart- ments. The firm converted the historic property, a former automobile assembly plant, into 40 new apart- ments and a popular bar and restaurant called Troll Pub.
The Wheelhouse apart- ments have remained in demand since the building opened, with an occupancy rate usually above 90%, said Ashlyn Ackerman, head of design with Weyland Ventures.
Weyland also rehabbed the nearby historic Dayton Motor Car building, creat- ing new offices.
The company wants to continue developing a new urban area its calling Ore- gon East, east of Wayne Ave- nue and east of the Oregon District’s entertainment dis- trict and residential neigh- borhood.
“With the additional investments we’ve made in the Troll Pub and Dayton Motor Car building, as well as investments and new openings in the Oregon District, we felt that the additional apartment units and residents would be an asset to the neighborhood,” Ackerman said.
The 503 lists studio, one-bedroom and two-bedroom apartments (518 to 956 square feet) with monthly rents of $1,105 to $1,610. Developers said preleasing has already started for half of the apartments and the other half are available for reserve.