The city of Dayton has allocated $755,000 in city development funds to help offset developer Student Suites’ cost of asbestos removal and demolition of the Schwind Building. Also helping fund the new development is a $1 million pledge from Cox Media Group Ohio, owner of the Dayton Daily News.
As part of that agreement, Student Suites will preserve the small, historic bank-like Dayton Daily News structure, built in 1908 at the corner of Fourth and Ludlow. The “bank” building and a piece of the Fourth Street façade are on the National Register of Historic Places.
Student Suites officials have said they plan to have the housing complex open in August 2014 for the start of the next school year at Sinclair Community College.