“We’ve been pretty busy with this project since the beginning of the year, applying to several different funding sources for the project, some competitive, and we’re optimistic about our project’s ability to score those,” said Chad Downing, director of the Trotwood Community Improvement Corporation, the organization spearheading the renovation.
In early 2022, the TCIC secured $2 million in federal funding through the Appropriations Bill to support the project’s development.
Credit: Bryant Billing
Credit: Bryant Billing
Additional funding, through a combination of federal funds, grants, and potential tax incentives, is being explored to cover the estimated $20 million project cost.
One such source is a $1.9 million grant the TCIC is requesting from the Ohio Department of Development’s Brownfield Remediation Program, which provides grants for the cleanup of brownfield sites to assist in the remediation of hazardous substances or petroleum.
The TCIC is also seeking around $2.5 million in tax credits from a program through the Ohio Historic Preservation Office.
The now-vacant Sears & Roebuck building sits on 4.7 acres at 5200 Salem Ave. in Trotwood and was built in 1966, registration records show.
In 2023, the building was named to the National Register of Historic Places, a designation which could mean additional resources to aid in the site’s redevelopment, like the OHPO tax credits.
While the building appears untouched, even abandoned, from the outside, Downing assured the renovation project is a top priority for the city.
“Right now, we’re continuing to stabilize and hold the property until we’re ready to launch the project,” he said. “There’s a lot of due diligence that goes into this type of project, along with architectural work — things like LIDAR scanning to map and survey the property — and the completion of environmental reports to make sure we’ve got the full scope of the project handled so we can move forward effectively."
The ultimate goal of the project is to open a hub for retail businesses, a food hall, and a space for entertainment, Downing said.
“Some of those community pieces that we’re either missing in Trotwood or want to emphasize is a place to platform arts and entertainment options, which is something that we hear from residents a lot,” he said.
The city has previously announced the building will be home to the Funk Music Hall of Fame & Exhibition Center. Additional businesses have yet to be determined, Downing said, adding that officials are working to prepare an application process for interested proprietors.
“Our target trajectory is to have construction started at the end of this year or beginning of next year, and to get this place open and occupied as quickly as possible,” Downing said. “What we’re also trying to do, though, is to maximize the opportunity and ensure we can deliver a sustainable project for the businesses that will occupy the space.”
Downing noted, however, the potential for economic volatility following recent tariffs implemented by the Trump administration and how this could affect the project.
“We don’t really know the extent of how this is going to impact the project, but we can say that it likely will impact it in some shape,” he said. “So, we’re keeping an eye on that and we’re prepared to adapt as needed.”
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