Miller-Valentine is readying to move to its new Monument Avenue home later this week.
That means work has started on the transformation of the Barclay Building into a new $20 million boutique hotel, with a planned completion set for the end of 2020, an email from Miller Valentine says.
Dave Dickerson, Midwest market president for Miller-Valentine, said Wednesday the business is ready for the move. “We’re moving out this week. We’re going to begin the first phase of the demolition process, which will last a few months. Then the construction will start after that.”
The first phase of the work — the demolition of the Barclay interior — by Miller-Valentine Construction is underway. Renovation is slated to start by the end of 2019, the Dayton-based construction and development company said.
The business first announced plans to become the anchor tenant at 409 E. Monument Ave. — about a half mile from the former headquarters at 137 N. Main St., the Barclay building's address — in May this year. The firm's 48 employees will make the move.
The Dayton Daily News previously reported the 10-story Barclay will be converted into a boutique hotel by Lawyers Development Corp. of Columbus and First Hospitality of Chicago.
The Barclay dates back to 1927. The sale of the Barclay building to the hotel developers last October closely followed the opening of downtown Dayton’s first new hotel in more than four decades — the 98-room Fairfield Inn & Suites by Marriott, which opened as part of downtown’s Water Street District.
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The builder is pursuing state historic tax credits, and developers hope to secure those in December, Dickerson said.
Dickerson is confident downtown can sustain a pair of hotels so close together, if they’re aimed at the right market.
“What you’re talking about is more strategic facilities,” he said. ” In this case, it’s a boutique hotel,” with a capacity of about 115 or so rooms.
Miller-Valentine’s Monument Avenue building is near the riverfront, between Fifth Third Field and the Water Street District apartments.