Nearly three dozen small businesses have opened in the city center, including 24 in first-floor spaces.
“We’ve now passed the $3 billion mark in larger downtown investments, including nearly $1 billion right here in the downtown,” said Dan Meixner, Co-Chair of the Board of administration of the Downtown Dayton Partnership, during the meeting Tuesday evening. “There are no signs that things are slowing down, and it will be exciting to see how these numbers continue to rise.”
The Downtown Dayton Partnership hosted its annual Special Improvement District meeting on Tuesday where it provides updates on economic development progress since the adoption of the Greater Downtown Dayton Plan in 2010.
Between 2010 and 2016, investments made or planned in the greater downtown exceeded the $1 billion mark.
Half a dozen years later, downtown has now seen $2.18 billion worth of projects completed and there are still $848 million worth of projects underway, the Downtown Dayton Partnership said.
Downtown, approximately $628 million worth of projects have been completed over the past twelve years and there are $330 million worth of projects underway.
These are huge investments in the community, said Downtown Dayton Partnership President Sandy Gudorf.
The city center has seen an 80% increase in housing since 2010, and the urban center is now home to 1,837 market-priced homes, the partnership said.
About 545 new market-priced units are in the pipeline, including highly anticipated projects in the Water Street District and an area called Oregon East.
Crawford Hoying and Woodard Development, developers of the Water Street district, are on track to open the 124-unit Monument apartment complex and the 71-unit Sutton apartment building.
The Sutton is on the same block as Day Air Ballpark, home of the Dayton Dragons, near the intersection of East First Street and North Patterson Boulevard.
The monument is on Monument Avenue and North St. Clair Street, across from the main plaza of RiverScape MetroPark.
When these projects are complete, Crawford Hoying and Woodard Development will have nearly 890 downtown apartments, according to the partnership.
Weyland Ventures, based in Kentucky, is also building a 158-unit apartment complex called The 503 along Wayne Avenue just north of its mixed-use development, the Wheelhouse Lofts.
Water Street developers are also building a new hotel, the AC Hotel Dayton by Marriott, just south of the ballpark, which will have about 134 rooms.
The new hotel is expected to open in early 2023.
Another hotel, the Hotel Ardent, part of the Tapestry Collection by Hilton, is under construction on North Main Street near Dayton’s biggest performance venues.
The owner of the Radisson Hotel Dayton Convention Center (formerly the Crowne Plaza) has closed the hotel, located near the Dayton Convention Center, for renovations.
The owner plans to convert the property into a Hard Rock Hotel.