Company wants to reuse downtown building for new housing

Dayton commissioners on Wednesday gave the city the authority to sell the property for $10 to Bacon Street Properties LLC, which lists Gosiger’s headquarters at 108 McDonough St. as its mailing address, according to city documents.

Developers are still evaluating the building to work out a development plan, but it likely would include residential and commercial components, said Barry Alberts, a partner with City Properties Group, which is involved in the project.

“We’re looking at the ability to use the upper floors for housing, and the lower floors for commercial space, which Gosiger could wind up using or it could be rentable space,” he said.

Bacon Street Properties in the fall plans to apply for Ohio Historic Preservation Tax Credits to adapatively reuse the McDonough Street property, according to city documents.

To qualify for the credits, the developer — not the city — must own the property or show it can control it.

The city commission unanimous voted to allow the sale. The legislation says the city no longer needs the property and its sale would promote economic development and job creation.

“This gives the authority to sell the real estate, and the closing will be at some point in the future,” said Amy Walbridge, the city’s special projects administrator.

Gosiger uses a portion of the building for storage. The structure is located by Gosiger’s campus.

City Properties Group, based in Louisville, Ky., is developing a master plan for Gosiger’s facilities. The firm also is developing a nearby property at 210 Wayne Ave., the old Weustoff and Getz Co. facility.

The Wayne Avenue project has been awarded state tax credits to convert the building into about 40 apartment units and commercial space on the ground floor.

City Properties Group wants to create an entertainment district in that area, acting essentially as an extension of the Oregon Historic District. The McDonough project would be part of that revitalization plan.

“We’re interested in making whole area, from Gosiger to Wayne Avenue, more vibrant,” he said.

If the project moves forward and wins a tax credit award, construction could begin in the spring or summer of 2016, Alberts said.

Construction should begin on the Weustoff and Getz Co. building this summer, with residential units coming online about 18 months later, he said.