DAYTON, Ohio (WDTN) — A developer is looking to turn an old hotel in Dayton into apartments, and he has big plans for retail space.

Sitting on the corner of South Ludlow Street and West Third, the former Algonquin Hotel could soon be the home of new apartments and 16,000 square feet of retail space. Simon Burgess, a partner with Revive Living Development LLC, said this is just one of seven properties across the country chosen for this type of project. He said they were impressed by the City of Dayton and were excited to work in such an historic building.

Along with 103 new apartments, Burgess said they are looking to build “Roar,” which will have boutique bowling, and JL Caspers Prohibition Steakhouse that has a 1920’s speakeasy theme.

Jessica Sands, public relations and marketing manager for Downtown Dayton Partnership, said this development is welcome news for the city.

“It’s kind of a chain reaction because more housing means more businesses, more businesses mean more interest in coming downtown and more housing, so it’s really going to keep downtown growing,” Sands said.

The potential increase in foot traffic will be a boost for nearby businesses, like Spaghetti Warehouse.

“We’re excited for them. We’re willing and ready, so I’m looking forward to it. I think it’s going to be amazing for downtown and I think it’s going to be amazing for us,” Cheri Whitfield, a server at the restaurant, said.

The project is also expected to create dozens of jobs. Sands said this is just another step in the revitalization of Downtown Dayton.

“This is saying there is a just a desire to be downtown right now. I believe the occupancy rate is around 97 percent currently, and there are so many projects still on the way. People are just really excited to be downtown and I think that’s just really going to keep driving the excitement. The more people come down, the more there is going to be, the more people are going to want to come,” Sands said.

Burgess said they are hoping to receive an historic preservation tax credit from the state. Without that credit, Burgess said the project will not be able to move forward.

Burgess also said he and his team are already in negotiations to bring EST EST EST, an Italian restaurant, to Dayton.