Simms has yet to close on the deal to buy one acre of land for it. However in a Dayton Daily News interview, Simms said construction could start within 30 to 60 days on the first five-unit building. Assuming everything moves forward as planned, Patterson Place would consist of four buildings built in phases.
Plans for Patterson Place follow Simms’ sold-out, 18-unit project Patterson Square, a $3 to $4 million project. Patterson Square first opened in 2011 also at First Street and Patterson Boulevard.
Since then, Simms also finished construction this year on the first seven-unit building of Rubicon Square. Rubicon Square, about a $2 million project, consists of 14 condos in Dayton’s fairgrounds neighborhood near Miami Valley Hospital. Four of those units have sold.
So why is Simms betting on downtown?
“There’s demand,” Simms said.
“When we started Patterson Square, it was going to be 18 units and I was apprehensive at first because Dayton downtown had a reputation,” he said. “There was other housing developments that weren’t selling and I think the perception was nobody wants to live downtown.”
But once Patterson Square opened, he said they immediately saw a huge demand.
“I think there’s a need for housing, but there’s a need for new housing,” he said. “We’re just starting to see choices.”
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