Arcade District Awarded Critical Ohio Funding
The Dayton Arcade has been awarded a $13.9 million tax credit from Ohio's Transformational Mixed-Use Development (TMUD) Program.
Arcade District Awarded Critical Ohio Funding
Photo credit: Tom Gilliam Photography
The team behind the Dayton Arcade is thrilled to announce that the team has been awarded a $13.9 million tax credit from Ohio's Transformational Mixed-Use Development (TMUD) Program for the Dayton Arcade District project, helping to further catalyze the on-going revitalization of downtown Dayton within the Arcade District.
The Arcade District Development represents over $200 Million of investment in what was originally 10 historic buildings, spanning two city blocks and over 810,000 SF in the City of Dayton’s central business district. The first phase of the development, South Arcade Phase 1, commenced construction in April 2019 with the first tenancy in early 2021. In seeing the overall vision of the Arcade District, and touring the completed first phase, Bruce Katz, the widely acclaimed urban expert, declared the Arcade as “the most transformative project in America”.
This TMUD award is critical to completing the next $139.8 Million portion of the Arcade District Development, which encompasses the following phases:
• South Arcade Phase 2: This $12.2 Million phase will complete the overall 265,000 GSF South Arcade development including the expansion of the Arcade Innovation Hub, 6888 Kitchen Incubator, Artist Resource Center, and space for multiple restaurants.
• North Arcade: This $23.3 Million 108,000 GSF phase to complete the 94-bed Hilton Garden Inn, pop up retail, and neighboring Stop-N-Save Grocery.
• Centre City Building: This $91.9 million 283,000 GSF phase including 200 mixed-income apartments, and up to 53,000 square feet of commercial retail and office. In addition to preserving and enhancing a key, architecturally significant landmark in Dayton’s urban core, this project will provide additional quality commercial space and rental housing in the Downtown neighborhood, bringing residents back to this community.
• Air City Garage: This $12.4 million 156,000 GSF phase to provide 380 parking spaces and additional street-level commercial spaces within the district.
