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CareSource modified the tower design because it is buying the five-story Ballpark Village building across from Fifth Third Field and will renovate and occupy the top floor. CareSource is also purchasing the attached parking garage.
CareSource, which already occupies floors one to four, expects to close on the building on March 1.
“This is a real win, win, win,” said Jerry Brunswick, president and executive director of the Dayton-Montgomery County Port Authority, which is selling the property to CareSource. “CareSource gets a great building … and the community wins because we get taxes paid off and we help to anchor an important downtown tenant.”
CareSource, which is headquartered on North Main Street, has agreed to buy the building at 220 E. Monument Ave.
The nonprofit has leased the building since 2014 and renamed it Ballpark Village.
The 150,000-square-foot structure, constructed for about $18 million, was previously the corporate headquarters of Relizon Co. and more recently housed WorkflowOne. The property is the former site of the Sears, Roebuck Co. department store.
CareSource this month will begin renovating the fifth floor and hopes to complete the work this summer.
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Deloitte Consulting previously occupied the top floor, but has decided to relocate to Tech Town.
The renovation and redesign of the top floor will increase the Ballpark Village building’s capacity to 600 office spaces from 500, officials said.
That change led to CareSource shrinking the size of the new tower it wants to build on the former site of the Patterson Co-op High School, which is called CareSource Center City. The new tower is expected to open in slightly more than two years.
“We expect to begin mobilizing the site in late March and anticipate completion in spring of 2019,” CareSource said in a statement.
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CareSource is buying the Ballpark Village building and attached parking garage from the Dayton-Montgomery County Port Authority.
The port authority constructed the building with state loans, bonds, local grants and donated land. The parking garage cost $8 million to build. This was the port authority’s first development project.
On Wednesday, the Dayton City Commission approved an ordinance authorizing the release and satisfaction of mortgage related to the purchase.
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The money from the sale will pay off the building, debt on the garage and back taxes on the garage, said Brunswick, with the port authority.
The garage had one of the largest delinquent property tax bills in Montgomery County.
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