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One common criticism of downtown’s housing boom is that all of the new product came with prices out of reach for many.
But almost 94% of the new Art Lofts rental units under construction are reserved for residents who earn no more than 60% of the area median income.
“With high-quality design and construction, first-rate amenities and neighborhood services, it will be a highly desirable place to live, no matter what your income,” said Trace Shaughnessy, vice president of development at McCormack Baron Salazar, one of the arcade development partners that is handling the affordable housing component.
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Saturday, the Downtown Dayton Partnership hosts an online showcase of downtown living options. People can join the tour by visiting www.downtowndayton.org/housingtour.
The event will feature video tours, photo galleries and behind-the-scenes looks at tons of apartments and some condos and town homes. At 1 p.m., downtown residents will take part in a panel discussion about housing and life in the urban center.
The Art Lofts, a major part of the $90-plus million redevelopment of the Dayton Arcade, is likely to attract considerable interest during the tour.
The rehab of the massive complex is one of the most closely watched projects in the region.
Developers and the Downtown Dayton Partnership Saturday will share new renderings of the Art Lofts, as well as photos of ongoing construction of the new apartments.
A new rendering provided to the Dayton Daily News shows a living space with sleek and modern designs and large windows.
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Units will have washers and dryers, and residents will have access to a fitness center, business center and a club/community room.
“This is a one-of-a-kind development for Dayton, a unique opportunity to live at the center of a vibrant, mixed-use development,” Shaughnessy said.
Of the 110 units, 103 will be income-restricted, reserved for low- and moderate-income residents. The remaining seven will be available to the public at market-rate prices.
Progress to restore the complex continues, and recently the first floor slab of the rotunda was completed.
Drywall, insulation and bathtub and shower installation work continues inside the Ludlow and Fourth Street buildings, which are being turned into the new apartments.
The Dayton Arcade is helping reactivate a major part of downtown Dayton, said Scott Murphy, vice president of economic development with the Downtown Dayton Partnership.
“People want to live in downtown, and it is important that we create spaces for all residents who want to be a part of this revitalization — including residents with lower-incomes and artists who will contribute to the cultural vibrancy of the area,” he said.
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