DAYTON, Ohio (WDTN) – Mendelsons Liquidation Outlet has been sold to a Columbus-based development company for a little over $7 million to become a multi-use facility.

Sandy Mendelson told 2 NEWS he purchased the property on E. First St. in the 1980s and that he has been so proud to put his name on this building, but he’s very excited about what this development company will bring to downtown Dayton.

Crawford Hoying purchase the nearly 545,000-square-foot building and the warehouse next door.

Mendelson said he has about a year left at the site, but has started a clearance sale and the countdown is on.

“Dayton is really, really, really growing, they need more entertainment and I think this is the right path,” said Mendelson.

Crawford Hoying started developing in Dayton in 2015 with the Water Street District and most recently, the Center Field Flats and Delco Lofts among a few others.

“This building in particular, it really fills in the gap for us because if you look in our developments, we essentially surround Fifth Third Field,” said Brent Crawford, principal and founder of Crawford Hoying.

Crawford said the size and ample parking of the building leave a lot of opportunities for them to get creative but foresee the multi-use including residential, office, retail, and restaurant spaces.

“Probably a two to three year total development,” said Crawford. “It will likely exceed $100 million, could be $200 million, we’re still working through that at this point.”

Crawford says the planning and development will begin in spring of 2020.