Water Street developer plans new downtown residences next to Fifth Third Field

Credit: DaytonDailyNews

caption arrowCaption
Developers planning 100-unit housing next to Dragons Fifth Third Field

Credit: DaytonDailyNews

Two key developers with a track record in downtown Dayton have bought a former industrial property, 507 E. First St., next to Fifth Third Field with plans to build new downtown apartments with on-site parking.

Jason Woodard, principal of Woodard Development, said the purchase is in partnership with Crawford Hoying, his development partner in the creation of the mixed-use Water Street District development near the Fifth Third ballpark, home of the Dayton Dragons.

RELATEDTaylor's Albany Street campus is for sale

Woodard said the partners’ current plan is to demolish the existing building at 507 E. First — immediately east of and adjacent to the ballpark — and build new residential units.

“We’re talking around 100 additional units, but we’re really very early in the design stage,” Woodard said.

Demolition of the current building is slated to start next spring.

Woodard and Crawford Hoying Development of Columbus have been the development force behind downtown Dayton’s Water Street District, a mix of Class A office, commercial and residential uses off the Mad River and across East Monument Avenue from the ballpark.

“To date in 2017, this development team has already transformed the historic Delco building into the Delco Lofts and has broken ground on 54 additional apartments and on downtown Dayton’s newest hotel, the 98-room Fairfield Inn & Suites by Marriott Hotels,” the partners said in an announcement Thursday.

RELATEDNew Huber Heights IHOP sold

“The success there has really helped a lot in our desire to continue developing in that particular area,” Woodard said.

The area has proven to be “walkable” and close to plenty of downtown amenities. “It’s starting to develop into its own community,” he said.

The plan still needs to go through the city of Dayton’s approval and permitting processes, he said.

The 507 E. First address had been home to industrial goods supplier Dayton Supply and Tool Co. for years until this summer. Jerry Kronenberger, president of Dayton Supply and Tool, said his company and its 30 employees moved to a nearby location at Keowee Street and Monument in June, vacating its former space.

Steve Peters, executive vice president, commercial sales and leasing for Miller-Valentine Group Realty Services, said his company represented the seller in the transaction, the Woessner family.

About the Author