DAYTON — City officials said they were prepared to demolish the EconoLodge hotel on Edwin C. Moses Boulevard and are now applauding the hotel’s ownership for taking the building down themselves, saving an estimated $255,000 in demolition costs alone.
The building’s ownership, the Idaho-based lending company Secured Income Fund I LP, now says it can envision an Applebee’s or establishment of a similar fashion between the existing McDonald’s and Wendy’s to feed off the of activity from the nearby University of Dayton.
“The hotel is old and worn out,” said Rob Newell, of Secured Income Fund. “We’re going to remarket the land. It’s a good location ... There’s a beautiful campus right next to us.”
Newell said the total project will be completed for between $100,000 and $125,000. Demolition, handled by the Dayton-based Bladecutters Inc., began on Monday. The project is expected to be completed this week. The two-story hotel was about 12,000 square feet per floor, according to the city.
Michael Cromartie, acting director of building services for the city of Dayton, said the hotel’s ownership recently was contacted with the message that the structure needed to be demolished. He said the city sent several notices to the ownership because of fires and break-ins. The building has been boarded up several times, according to Cromartie, and complaints of uncut vegetation and broken windows date back to 2009.
“The owner stepped up and did the right thing,” he said.
Cromartie said the city had estimated demolition costs at more than $200,000.
Dayton Fire Chief Herbert Redden said there have been two fires this year at the vacant EconoLodge. The last one — in April — ran about $24,000 in costs to the fire department. One arrest was made in connection with that arson.
According to the county auditor’s website, Secured Income Fund purchased the EconoLodge in February 2011 for about $160,000.
In 2000, the hotel was bought for $1.25 million.
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