Dayton expected to sell downtown property for $10 today

A new office building is planned for the Water Street District, further solidifying the area as one of the most thriving parts of the city. Woodard Development and Crawford Hoying, the developers of Water Street, plan to construct a two-story building at Monument Avenue and Webster Street, offering about 25,000 square feet of space. The project will create retail space and class A office space, which is in strong demand in the area, said Jason Woodard, principal of Woodard Development. TY GREENLEES / STAFF

Dayton’s elected leaders today are expected to sell property in one of the hottest sections of the city to a couple of the city’s busiest developers.

Woodard Development and Crawford Hoying, the developers of the Water Street District, want to construct a two-story office building at the corner of Monument Avenue and Webster Street, which until recently was a grassy lot.

The 25,000-square-foot building will offer Class A office space, the developers say, which is in high demand in that section of the city, known Webster Station.

MORE: New Dayton office building coming to Water Street District

The city is expected to approve a development agreement with the Water Street developers. Under the proposed agreement, the city will sell the 1.3-acre property for $10, and the developers will agree to invest $3.5 million into building a commercial building.

The developers already paid the city $10,000 for an option fee.

Woodard Development previously said the new building will offer options for companies that need more than 15,000 square feet of space.

Water Street has hundreds of apartments, and more are under construction. The district’s office building is full, and its restaurants are popular destinations.

MORE: What’s next for the developers of downtown’s Water Street District in Dayton

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