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Picture this: Grafton Hill part of major urban renewal plan
Investors and nonprofit groups are pouring resources into revitalizing older Dayton neighborhoods.
Sunday, February 18, 2007
DAYTON — An effort to breathe new life into Historic Grafton Hill's Central Avenue and surrounding neighborhoods is gaining momentum. A group, which calls itself the Renaissance Alliance, says its plan to build homes modeled after notable estates once located in Grafton Hill could be launched this year.
Headed by St. Mary's Development Corp. and the Grafton Hill Historic District, the plan is anticipated to fuel investment in the neighborhoods of Five Oaks Riverdale, Jane Reece and Dayton View.
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While some challenges exist, the group says other projects under way, such as planned expansion of Grandview Hospital and upgrades to the I-75-Main Street interchange, are likely to add momentum to local investment.
Already a Cleveland-based firm, JED Investments, has claimed its stake to a piece of Central Avenue real estate. The firm is planning a $1.5 million renovation of the former Regency and Cornerstone apartment complexes and may be in the market to expand their local footprint.
Key players in investment plan
A plan to boost investment in the neighborhoods of Grafton Hill, Riverdale, Dayton View, Five Oaks and Jane Reece, has several players. Here's a list of some of the supporters:
St. Mary's Development Corporation, a nonprofit development firm headed up by David Bohardt, former president of the Home Builders Association of Dayton and the Miami Valley. The firm has helped land nearly $1.5 million in seed money to help pay for the purchase and removal of blighted property.
The Grafton Hill Historic District, led by Dan Barton, president of the Grafton Hill Association. Barton has worked with the city of Dayton since 2000 on a community improvement plan rooted in using residential redevelopment to fuel commercial investment.
The Grandview Foundation, which is crafting a master plan for Grandview Hospital that could include an expansion of the hospital's campus worth up to $70 million.
Miami Valley Regional Planning Commission and the city of Dayton, which have helped drive the ground work needed to shore up state and federal funding commitments for improvements to the I-75-Main Street interchange.
