Downtown Toledo is making a roaring comeback. Fueled by consumer demand, public-private leadership and a flood of investment dollars, downtown apartment buildings are bursting at the seams, retail businesses are rushing to open their doors and companies are enthusiastic about the prospect of relocation to the city’s urban core.
There are several multi-million dollar projects leading downtown Toledo into this new age of vibrance and vitality. These projects are satisfying demand by bringing to life buildings which have sat vacant for decades.
This blog mini-series will explore three major development projects that are reshaping downtown Toledo.
THE TOWER ON THE MAUMEE - 200 N. SAINT CLAIR ST, TOLEDO, Ohio
On August 7, 2016, the Toledo Blade reported the plans to redevelop the 30-story former headquarters of Owens Corning Fiberglass Company into a mixed-use, retail office and residential tower with attached parking garage. Built in 1969, the property was vacated in 1996 when Owens Corning relocated its corporate base to a new complex downtown closer to the Maumee river in the historic Middlegrounds district.
Now owned by the Eyde Company, the $35 million dollar construction project is being managed by the Means Group.
The Means Group states, “The main level will completed as Retail space. The second discipline will include floors, 2 thru 12, and designated office areas. The balance of the project, Levels 13 thru 28, will be converted into residential units. The location of the project will allow the future tenants to enjoy many of the local shopping, local restaurants, Fifth Third Field, all within walking distance of the development. The Towers offer amazing views of the Maumee River, Lake Erie and the downtown area.”
UPDATE: October 7, 2016: Permits approved for construction on 106 residential apartment units ranging from about 700 to 1,265 square feet. Phase 1 of the project includes the apartment units and retail and is expected to be completed by the end of 2017 (13abc).
The Toledo Blade reported, "Architects from Quinn Evans designed the new apartments, and The Douglas Co. is the general contractor. The first phase of the project will be completed in 12-14 months and create about 120 construction jobs. Mr. Clouse said they will begin leasing in about nine months. ... Eyde secured nearly $10 million in historic tax credits from the National Park Service and Ohio Development Agency. The rest comes from loans through Fifth Third Bank, Old National Bank, and Foss & Co."
Residents in the Tower on the Maumee will enjoy the benefits of outstanding views of the Maumee river and easy access to the many dining and entertainment venues downtown.
Crane Development is excited to see the Tower on the Maumee project move forward and we welcome new residents and businesses to downtown Toledo.
In Part 2 of this series, we'll look at the Berdan Building. Sign up for our email updates to receive the next post directly in your inbox. You'll also receive a FREE whitepaper about a vision for the 600 block of Adams Street.