Space for nearly 500 parking spots as part of the redevelopment of the Mendelson’s building in downtown Dayton near Day Air Ballpark has the backing of the Dayton-Montgomery County Port Authority.
If Columbus developer Crawford Hoying builds the new parking capacity, Port Authority trustees have approved a resolution to issue bonds in a principal amount not to exceed $35 million.
The parking development could be in the Port Authority’s name, said Joseph Geraghty, executive director of the Port Authority.
Although Port Authority legal documents refer to the development as a “parking garage,” an executive for developer Crawford Hoying cautioned Wednesday that the company is not planning a separate garage for parking.
And that executive said some form of new parking capacity will “certainly” happen.
“Parking is a key component to the overall development of The Delco building,” Crawford Hoying Executive Vice President of Marketing and Communications Jessica Rexer said. “We are certainly creating additional parking within the building itself, but we are not building a standalone parking garage as part of the site. We’re converting parts of the existing building to accommodate parking.”
In statement sent in response to questions, Crawford Hoying said: “Design is currently underway on The Delco, the newest mixed-use development in the Water Street District. The project is located on the site of the former Mendelson building, across from the new AC Hotel. Portions of the lower levels of the building will be used for public parking with an estimated 480 spaces created. The upper levels will include a mix of offices and apartments. Additional updates and details on the building uses, construction timelines and renderings will be forthcoming.”
The developer wants to issue tax-exempt bonds for the project, Geraghty said.
The vote legalizes or memorializes a starting date for the issuance of bonds, Port Authority trustees were told. It does not represent a commitment of capital by the Port Authority.
“It could turn into a project where we finance something, or it may not,” Geraghty said. “This is just an inducement letter. I’m asking them to support that for the benefit of the Mendelson’s project.”
In 2019, Crawford Hoying bought the Mendelson building at 340 E. First St. Previously home to Mendelsons Liquidation Outlet, the more than 550,000-square-foot, eight-story building will be part of the developer’s Water Street District downtown.
The sale also included the Mendelson warehouse and lot at 418 E. First across from the Dayton Dragons stadium.
Just before the COVID-19 pandemic began to be truly felt domestically in early 2020, the developer announced plans to build a nearly 90,000-square-foot hotel at the site.
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