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Staff photo by Ron Alvey This former office building for Delphi on Cincinnati Street near UD Arena is undergoing rennovations.

By Joanne Huist Smith, Staff Writer Updated 7:43 PM Wednesday, July 8, 2009

DAYTON — A week and a half after closing on the purchase of 52.3 acres off Cincinnati Street from Delphi (map of site), a Los Angles-based developer known for handling industrial properties in Ohio already has signed its first tenant.

“That’s how we work,” said Debra Harrell, senior vice president of Industrial Realty Group, LLC.

IRG’s long-range, conceptual plans for the property include construction of an affordable hotel, one or two (nonfast food) chain restaurants, and eventually a big box retailer.

The new development will cater to residents and businesses in the area along with the University of Dayton.

“(Currently) you have to drive eight miles to get to a significant store,” Harrell said.

During the next three years, IRG expects to have the three-story office building at 1515 Cincinnati Street fully occupied and to demolish a manufacturing building on the site.

The Dayton City Commission on Wednesday, July 8, approved rezoning of 4.7 acres for the office building. An occupational therapist already has begun renovations to the first floor.

“We’ve signed a lease,” Harrell said. “They’re actually doing (inside) demo work. We’re very happy.”

Dayton City Manager Rashad Young said he likes IRG’s vision for the development.

“We’re excited about the prospect,” Young said. “This is an organization that has been in this job market and understands Ohio.”

IRG, with projects in 22 states, selected the Dayton site for redevelopment because of its proximity to main interstates and the airport, the region’s abundant workforce, affordable housing in the area and the community’s leading medical facilities, Harrell said.

Delphi was GM’s parts-producing arm until GM spun the company off to independence in 1999.

Delphi first sought Chapter 11 bankruptcy protection in October 2005.

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