DAYTON, Ohio (WDTN) — More money is coming to downtown Dayton as the city continues to work to bring new life to older infrastructure.
A second Downtown Dayton Investment Fund will support and further stimulate growth, pumping money into Dayton’s older buildings for higher and better use.
“These funds are intended for those catalytic kinds of projects that are important for the redevelopment of our downtown,” says Sandy Gudorf, President of the Downtown Dayton Partnership.
The second fund will complement the first and help fill in some financial gaps.
CityWide Development Corporation is the lead organization implementing the fund.
“When you look at these major projects, they’re important on a lot of different levels,” states Gudorf. “Whether it’s the mixed use, a combination of office and housing, and then of course those very valuable first floor businesses like restaurants and other related kinds of activities.”
The first fund was launched in 2017. Between the two phases, more than five million dollars has been raised for redevelopment.
The funding has created some momentum even in the midst of a pandemic.
“We are very fortunate that a majority of our downtown projects are still moving forward,” says Gudorf. “We’re going to see the first phase of the Arcade opening, the Fire Blocks District, Water Street, and other projects.”
Some of those projects have already benefited from the first round of funding, and the city is expecting similar progress with the second round.
A variety of contributors have come together to help with the fund, including CareSource, Kettering Health Network, and area banks.