Developer has plan for downtown success

DAYTON, Ohio (WDTN) - According to veteran real estate developer David McDonald, studies are showing young professionals all over the country are moving back downtown to live.

He says leaders of the City of Dayton have done a good job of attracting residents downtown, proven by the city's 95 percent residential occupancy rates.

But, he fears, downtown Dayton might be in jeopardy if the city continues to allow the exodus of businesses from the downtown core.

"They moved out because of all the shopping centers. That's all but done across the country so now the interest is moving back towards the city," said McDonald.

"It's getting more like the snow ball going down hill is getting bigger and bigger and we've got to stop it and the only way to do that is to give all these businesses that are still downtown something to believe, that somebody is doing something that really might save the city they aren't dumb. They know that bike paths, parks and monuments won't save the city they just don't know what they can get involved in that's worth while," adds McDonald.

McDonald believes strongly he has a worthwhile plan that can turnaround downtown Dayton.

He says you must once again attract the sophisticated developer.

"Sophisticated developers took everything out of our cities and if you want to start the process of bringing it back you have to go get these sophisticated developers. They know how to do it. Elected officials weren't trained," said McDonald.

To attract those "sophisticated developers", McDonald believes you have to start by making downtown Dayton attractive to sight-search groups turned-off by a staggering office vacancy rate of 35 percent.

To reduce those office vacancy rates, McDonald suggests demolishing six non-historic, under-utilized buildings for demolition.

McDonald explains, "If you tore those six down, again it could be any six that's a million and thirty thousand square feet that come off the rosters. All of the sudden our vacancy rate goes from 34-35 percent to 13, that makes us one of the healthiest looking cities in the country,"

To pay for the project, estimated at 30 million dollars, McDonald is putting together a private development group of local CEO's called DCCDC, the Dayton Center City Development Corporation.

"The CEO's of the large corporations have the political clout so that elected officials will get out of their way and allow them to do their thing." said McDonald.

Once established, DCCDC would also develop scenic Deeds Point into a high rise that includes 250 condos, complementing the Mendelson / Samuelson condo project across the river next to the Fifth Third Field.

McDonald said, "We need large trophy residential projects and we need them on the river. We aren't utilizing this river."

Until we do, McDonald says Dayton will not get the attention of major site search groups.

McDonald concludes," Oh by the way you get some trophy residential projects going all of a sudden grocery stores, retail they start looking at us again cause they have to see people moving in not out because retailers don't pioneer."

Will McDonald's plan work? I will investigate that part of the story Tuesday morning, exclusively on 2 News Today beginning at 4:30.