Local leaders and developers say the demand for urban living is going strong, and new housing developments like the Delco and the 503 are filling up.
“The demand for living downtown is a combination of the high-quality residential developments alongside the culture and the amenities within walking distance,” said Katie Meyer, president of the Downtown Dayton Partnership. “Downtown is fortunate to have incredible art, theater, shopping, dining and entertainment located in one central area.”
Housing growth
New apartments that have opened in downtown Dayton this year or that are expected to open soon include the Delco (160 units); the 503 (158 units); the Home Telephone Building (19 units); and the Patterson Lofts at the Livery (16 units), says the Downtown Dayton Partnership.
The partnership also said about 149 new apartment units are expected to open in the Grant-Deneau Tower, probably sometime in early 2025.
The Delco is a huge new mixed-use building near Day Air Ball Park where the Dayton Dragons play minor league baseball. Located at 340 E. First St., the seven-story Delco building formerly was home to the Mendelsons Liquidation Outlet.
Crawford Hoying and Woodard Development, the developers of the Water Street District, have invested around $100 million to turn the property into 160 new apartments, office and commercial space and a large parking garage.
Samantha Whitehead, manager of the Water Street District, said 82 Delco units are occupied and 92 are leased (58% of the total).
The apartments opened on June 11. Whitehead said the absorption rate of new apartments typically tends to be around 12 months.
“Leasing activity has been fast and demand remains high,” she said.
Whitehead said apartment-seekers care about the location and quality of their housing and the amenities they offer. The Delco has a rooftop pool, a sun deck, a fitness center and a large dog park in an outdoor courtyard area.
“The Delco offers spacious units that feature beautiful views, high-end finishes and top-notch amenities,” Whitehead said.
She said the building is in the heart of the Water Street District, near RiverScape MetroPark, the Dayton Dragons stadium and numerous restaurants and bars.
The 503
The 503 is a new, four-story apartment building located at East Fourth Street and Wayne Avenue (the former Garden Station site), just north of the Wheelhouse Lofts. Weyland Ventures, the firm behind the Wheelhouse, developed the 503.
About 79 of the 158 new apartments are open, which are located in the east wing of the building.
Nearly 30 apartments are occupied, and the first move-in took place at the very end of May, said Melvin Hart, sales leader for the 503 and the Wheelhouse.
The other half of the apartments, located in the west wing, are expected to open next month.
The 503 apartments have open floor plans, tall ceilings, urban-loft finishes, stainless steel appliances, washing machines and large windows with views of downtown.
Hart said the 503 is expected to get a new dog park, a couple of pickleball courts and some kind of outdoor music or performance space at the east end of the site.
The apartments are very close to the Oregon District business strip, along East Fifth Street.
Grant-Deneau Tower
Windsor Companies, the main developer of the Fire Blocks District in downtown, is working to renovate the Grant-Deneau Tower, which is a 22-story office building that was the first modern high rise built in downtown.
The vacant tower is located at 40 W. Fourth St., across the street from the Dayton Arcade.
According to information posted by Windsor Companies on social media, luxury apartments are being constructed on floors 6 to 21 of the building, which will have a variety of floor plans.
Other floors of the tower are expected to become commercial, office, restaurant and co-working spaces.
Windsor also has created 19 new loft apartments in the Home Telephone Building, which was the former home of Price Stores, located at 48 S. Jefferson St.
Windsor also is constructing a new, five-story apartment building near 2nd Street Market, in the Webster Station neighborhood. The apartment building, located near the eastern edge of downtown, will have more than 100 units.
Windsor also is rehabbing a vacant apartment building at 522 Grand Ave. into 43 new market-rate apartment units.
This project, called the Commodore, is a short walk from downtown in the Grafton Hill neighborhood.
Credit: JIM NOELKER
Credit: JIM NOELKER
Veronica Morris, Dayton’s economic development manager, said recent and ongoing housing development in greater downtown exceeds $179 million in new investment.
This estimate does not include the Delco building, but it reflects a variety of recent investments, including two other housing projects in the Water Street District that were finished last year (the Monument and the Sutton).
Who lives downtown
The Downtown Dayton Partnership says downtown is now home to about 4,600 residents.
Meyer, president of the partnership, said about 72% of downtown residents are single young professionals, while most of the remaining residents are retirees.
“With the current occupancy rate above 90%, we believe the demand absolutely remains for downtown apartments,” Meyer said. “People are excited to live downtown for its community, amenities and walkability and developers are providing more new and unique ways for them to do so.”
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