The property is about 2.3 acres and includes a portion of the associated parking area. The building houses the Buck & Ear Grill, the Acapulco restaurant, Comfort Dental, and Barr’s Pharmacy, among other businesses.
With the purchase, Dillin will assume control of the building and associated leases, according to city documents. Dillin also plans to make substantial improvements to the façade and bring in new tenants to some of the currently vacant spaces, documents say.
City council approved the purchase Thursday.
“This is an exciting step,” city council President Will Urschel said in February. “This is our first step towards revitalization of downtown.”
The purchase is part of the first phase of the $125 million plan to turn Xenia Towne Square, located in the heart of the city’s historic downtown, from a largely vacant shopping strip and parking lot into a plaza, with dedicated spots for restaurants, shops, retail, and residential housing.
The city currently owns the majority of the 15.5-acre property that makes up Xenia Towne Square, which is located between Main and Church Streets and west of the county Courthouse. The exceptions are a few chain restaurants and a Fifth-Third Bank on the south side, plus parcels on the northwest, northeast, and southeast corners. The city put much of the property it owns there up for sale last fall.
The end goal is for the city to sell all of what it owns at Xenia Towne Square and return it to private hands, with city officials recently saying there “is a lot of interest in the property.”
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