The city of Dayton has approved nine items related to the Dayton Arcade redevelopment, setting the stage for the project’s much anticipated financial close.
The University of Dayton and The Entrepreneurs Center have agreed to a long-term, multi-million dollar lease for space in the Dayton Arcade, just as the redevelopment project approaches a critical financing deadline this month.
The University of Dayton and The Entrepreneurs Center have committed to a 10-year lease for the Arcade, bringing hundreds of UD faculty, staff and students, comprehensive entrepreneurial support services and thousands of square feet of working space for local startups to the downtown area.
The Arcade Innovation Hub LLC, a dynamic joint venture of the University of Dayton and The Entrepreneurs Center, has committed to a 10-year lease as anchor tenant for the downtown Arcade, bringing hundreds of UD faculty, staff and students, comprehensive entrepreneurial support services and thousands of square feet of working space for local startups to the massive redevelopment project.
After being pushed back multiple times, the long-awaited closing on financing for the Dayton Arcade is set to happen by late April, city of Dayton officials said Wednesday.
The city of Dayton commissioners were told today that an anchor tenant, which is a collaboration between the University of Dayton and the Entrepreneur’s Center, is expected to sign a lease for the Arcade next week.
Demolition and abatement has allowed for unprecedented access to the top of the iconic rotunda that serves as the focal point of the Dayton Arcade.
The last building in the historic Dayton Arcade complex has been purchased by Dayton Arcade Partners. The arm of real-estate company Cross Street Partners has acquired the Kuhns building on Main Street for $1,283,586.
The developers behind the renewal of the Dayton Arcade have purchased the Benjamin F. Kuhns building downtown.
The developers of the Dayton Arcade project now own all of the buildings in the downtown complex.