Crawford Hoying Development Partners, which is part-owned by former St. Henry High School grad and Ohio State Buckeyes quarterback Bobbie Hoying, bought Mendelson’s warehouse for $1.7 million. Crawford Hoying is the same company developing the $33.5 million mixed-use Water Street project.
The Columbus-based developers plan to develop the former Delco building into 100 apartments atop ground-floor retail shops to complement the Water Street project underway nearby along the Great Miami River.
Mendelson said his children are slowly taking over his downtown businesses, which employ 35, but nothing at this time is in the works to sell his other buildings.
The longtime business owner was complimentary of Crawford Hoying and the plans the company has to develop portions of downtown Dayton.
“We need to let more private developers to do their thing in downtown. Success breeds success. We’ve got to stop allowing government-funded projects to compete against private developers,” Mendelson said.
No longer the dream
The Census Bureau reported last week that the rate of home ownership fell to 64.3 percent in the third quarter, the lowest level since 1994. At the same time, the number of renters in the United States has risen by nearly 25 percent.
The debate on whether this is good or bad has shifted in the past decade.
Before the recession, it was driven into people that home ownership was the American way and would help them build equity that could be later used to improve their economic status. Following the crash in the housing market, more people were forced to rent because they could not afford homes or get home loans.
The American dream is no longer about home ownership for some.
Jobs available
Fuyao Glass America officials told us last week they begin hiring for production workers at its glass automotive plant at the former GM assembly plants in Moraine.
Reporter Tom Gnau reported that managers for Fuyao Glass America’s Moraine plant are settling into their new positions, and will begin the process of hiring production workers as early as next month.
The company is working with Ohio Means Jobs-Montgomery County to help test, interview and hire production workers. Management and production job openings are posted now at the thejobcenter.org.
Have a business news tip or insider information? Give me a call at (937) 225-0623 or email me at rich.gillette@coxinc.com
Rich Gillette is the Dayton Daily News business editor. Follow him on Twitter @richgillette
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