Water Street development to have more apartments

PNC Bank to occupy two floors of Dayton's Water Street Project. (Photo/City of Dayton)

DAYTON, Ohio (WDTN) – Under a changed agreement, the Water Street Development will now have more apartments than first thought.

The development at Patterson and Monument in Dayton will now have 215 apartments compared to 150 originally.

“I think it speaks well to the strength of our housing market that has maintained its mid-90 percent occupancy over the last five to seven years,” says Assistant City Manager Shelley Dickstein.

Only 135 of those apartments will be built initially.

The other 80 will be part of a second building that will wrap around the site’s parking garage.

That garage is expected to be finished in the spring.

“It was always contemplated they would be in two separate buildings,” Dickstein says. “Obviously the garage has to come out of the ground before you can put more construction around it.”

City commissioners also approved taxpayers’ contribution to the $33 million project.

Along with a $500,000 grant from Montgomery County, the city is paying $500,000.

The money will go toward improvements like landscaping and decorative lighting.

“So it’s a nice, attractive, high-level place that people want to walk and spend time in,” Dickstein says.

The city expects work to start on the apartments sometime this fall. They hope to have the first ones finished by August of next year.

Work has already started on the office building at the development that will be home to PNC. They’re expected to move in this coming spring.

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