DAYTON — A dangerous and decaying skyscraper is about to have a $110 million makeover.
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The Centre City Building has been vacant so long some people thought it should be demolished.
The city has found a development partner and is pitching in $6 million for what will be a $110 million investment.
“That will be a huge impact to Downtown,” Dayton City Manager Shelley Dickstein said.
The vacant building became so dangerous that the city fenced it off and put in a protected walkway to protect people from potential falling debris.
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The city has been working for the last four years to make a deal with a developer and not demolish the building.
They now have an impending deal with the Model Group, one of the partners in the Arcade development.
A Model spokesperson said they are “preserving an architectural gem and moving the Arcade and Convention districts toward the vision of a revitalized and activated hub of activity.
City commission just approved $6 million to clear up abestos in the building and to stabilize it until work begins.
The Model Group plans to put in more than 200 housing units here, 60 percent of those classified as “affordable housing”, a key need in Dayton and across the country.
The city’s remediation work will start in the next few days.
They believe the developer may begin work by April or May.
We will continue to follow this story.
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