$8M approved for large ‘Delco’ parking garage in busy part of downtown Dayton

Port Authority finalizes financing; 482-space public garage is part of $100 million ‘Delco’ project downtown

Credit: Tom Gilliam

Credit: Tom Gilliam

The Dayton-Montgomery County Port Authority said Tuesday it closed on $8.4 million in financing for a new downtown Dayton parking garage, just south of the Dayton Dragons’ stadium.

The 482-space garage is part of what will be mixed-use downtown development between east First and Second streets, with a 160-unit apartment development, 77,400 square feet of offices and nearly 20,000 square feet of retail space.

The public garage will support users in what the Port Authority called the “Delco District,” in a building that once was the Mendelson’s Liquidation Outlet, just east of Patterson Boulevard.

That area of northeast downtown near Day-Air Ballpark has seen significant development in the past decade, with the opening of multiple restaurants and breweries, two hotels and multiple types of housing.

The ongoing project is spearheaded by Columbus-based Crawford Hoying Development Partners, LLC, and Dayton’s Woodard Development.

Renovation in the $100 million project is expected to be completed late in 2024.

“We’re thrilled to continue our commitment to the downtown Dayton area,” Russ Hunter, executive vice president, design and development at Crawford Hoying, said in a statement from the port. “The Delco building will be our largest investment in Water Street District so far. This parking garage makes the renovation of the entire structure possible.”

The port said it closed on the financing of $8.4 million of tax-exempt revenue bonds through the Southwest Ohio Regional Bond Fund, jointly run with the Port of Greater Cincinnati Development Authority.

Credit: Tom Gilliam

Credit: Tom Gilliam

The fund partnered with Ohio Enterprise Bond Fund, managed by the Ohio Department of Development, which issued $25 million in financing.

Total combined project financing is valued at more than $33 million, the port said.

“On behalf of the Port Authority’s board of trustees, we are proud to help make funding available for this project that will add significantly to quality of life and vitality in downtown Dayton,” said Joseph Geraghty, executive director of the Port Authority. “The Delco project renovation, by virtue of its size and scale and current investment estimate of more than $98 million, increases the intrinsic value of Dayton, the region’s center.”

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