Dayton could give the Arcade rehab project $2.5M

July 17, 2017

The Dayton city commission this week will vote on whether to give the Dayton Arcade project $2.5 million to help create 126 new apartments.

RELATED: Dayton Arcade wins $5M in state tax credits

The city of Dayton is weighing whether to give the Arcade project federal funding to aid revitalizing the large and vacant complex and bring new affordable housing downtown.

The apartments would be spread across four of the Arcade’s eight buildings and would be marketed toward artists and creative professionals who live in the greater Dayton area.

The city’s contribution has been part of the developers’ proposed financing package for the rehab project for a while.

Local officials say the renovation of the Arcade is not yet a done deal, but a recent $5 million award of state historic tax credits has helped bring the project closer to reality than any of the other redevelopment proposals since the complex closed 27 years ago.