Dayton leaders have approved selling vacant property near the Dayton International Airport to a Al. Neyer, a Cincinnati-based commercial real estate development and design-build firm.
In the last five and a half years, the city has sold about 350 acres of land around the airport for development to Missouri-based NorthPoint Development or its subsidiaries, said Gil Turner, Dayton’s aviation director.
This latest deal shows there still remains strong interest in real estate around the airport, and this developer like NorthPoint has a large portfolio of projects.
On Wednesday, the Dayton City Commission authorized the sale of 7.8 acres of land along the 1600 to 1800 block of Jackson Road to Al. Neyer.
Al. Neyer proposes spending $354,928 to buy seven parcels south of Jackson Road, west of Union AirPark Boulevard.
The vacant parcels are in Union, west of the aviation facility, but owned by the city.
The property also is directly south of the massive Procter & Gamble facility and west of one of Crocs’ warehouse and distribution facilities.
The proposed purchase agreement will not be executed until the Federal Aviation Administration formally agrees to release the property from federal grant assurances, according to a memo from Turner to the city manager.
The city says the FAA is currently reviewing its request.
Turner said the city must agree to certain obligations or assurances when it accepts funds from FAA-administered assistance programs.
One of the grant assurances requires that city-owned land at the airport be used only for aviation purposes, he said, but the city in 2009 applied to release some parcels to prepare for their eventual sale.
These pre-released parcels require a final sign off by the FAA before the city can dispose of them, he said.
Al. Neyer says it worked on 22 projects last year and has seen more than $800 million in construction signings since 2018.
The company has built office, warehouse and manufacturing facilities as well as multi-family buildings in multiple states.
NorthPoint has constructed massive new warehouse, distribution and industrial buildings around the airport.
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