The funding will help the developer of the nearby food hall (W. Social Tap & Table) renovate a couple of side-by-side buildings at 1171 W. Third St. in the Wright Dunbar business district that are expected to be home to a new restaurant (XO Burger), a tea and wine bar (Saoko Leaf & Wine) and a deli (Haymarket Deli & Sweets).
The $300,000 grant, from the West Dayton Development Trust Fund, will leverage $6 million in private investment that will help create an active, walkable and vibrant streetscape, city documents state.
“This project is all about bringing new life to a longtime vacant building in the Wright Dunbar business district,” said Veronica Morris, Dayton’s economic development manager. “The plan is to turn 1171 W. Third into a vibrant space for local businesses — think retail, food spots and spaces where entrepreneurs can grow and thrive. It’s a key part of the larger push to support economic growth and create more opportunities right in the heart of West Dayton."
Larry Dillin, the managing partner of Wright Dunbar REH LLC, developed the W. Social food hall, located at 1100 W. Third St., which is on the same block as the Cornerstone buildings.
A development agreement the city commission approved last year with Wright Dunbar REH said a $350,000 grant will bring in $3 million in private investment.
The proposed amendment to this agreement says an additional $300,000 in grant funding will help support $6 million in private capital investment in West Dayton.
Morris said the increased budget reflects the developer’s desire for a transformational project instead of a basic rehab. She said the city is helping out because projects like this help the entire neighborhood grow while supporting small businesses, new jobs and increased energy and foot traffic in Wright Dunbar.
“This funding is a big deal,” Morris said. “It helps fill the financial gap and makes it possible to attract other funding partners as well as leverage additional private investment. Without it, the project might stall or be scaled way down.”
The Cornerstone project is supposed to welcome new ground-floor tenants XO Burger, Saoko Tea and Wine and Haymarket Deli & Sweets. “Coming soon” signs are posted on their storefront windows.
However, the spaces look like they still have a significant amount of unfinished work. Saoko’s sign still says the business is expected to open in late fall 2024.
Wright Dunbar is changing, and the opening of W. Social in July 2022 was a big moment for the district. Other recent additions along the business corridor include Wright Dunbar Cigar Shoppe & Lounge (also called Wright Dunbar Cigar) at 1151 W. Third St. and Morgan’s Fine Cuisine at 1101 W. Third St.
Charles Simms Development also is constructing new townhomes along the 1000 block of West Third St. Multiple homes are finished, and more are on the way.
The city provided $980,000 of its federal COVID relief funding (Dayton Recovery Plan dollars) to the Townes at Wright Dunbar project, and the cigar shop received some grant funding from the West Dayton Development Trust Fund.
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