DAYTON, Ohio (WDTN) — The Dayton Arcade building has sat empty for many years, but that’s about to change.
City officials and developers announced plans for major renovations at the historic downtown building.
Once the project is complete, the Arcade will feature housing, art galleries, classrooms, studios, offices, restaurants, retail shops and public event spaces.
City officials said previously that renovations would cost nearly $75 million, with $40 million of that already secured in tax credits. On Wednesday, they announced the State of Ohio was pledging $5 million more in tax credits for the redevelopment project.
In April, the University of Dayton announced plans to help revive the long-vacant building by becoming an anchor tenant.
During Wednesday’s announcement, UD reaffirmed its plans to become a tenant at the building. Other future tenants include a visual arts center, entrepreneurs center, Boston Stoker, Warped Wing, Ferlohs and Labner Salon.
Miller-Valentine and Cross Street Partners are working with the city to revamp the building