$120M Oregon East project will create “vibrant, mixed-use district” in downtown Dayton

An underutilized section of Dayton will be transformed into a “vibrant, mixed-use district” by the $120-million Oregon East project that aims to build off the downtown Oregon District, constructing a hotel, residential units, entertainment venues and office space, the Dayton Business Journal reports. Phase One of the project “has been completed with the redevelopment of the Wheelhouse Building as a mixed-use facility,” according to the article. Key to Phase Two is the $11-million parking garage that would eliminate surface lots in the area, allowing them to be redeveloped as residences and businesses. The City of Dayton is requesting a $500,000 Economic Development/Government Equity (ED/GE) grant from Montgomery County to fund utility upgrades; the city is also planning to establish a Tax Increment Financing (TIF) district “that will generate revenue to finance the parking garage.” For more, read the full article.

Economic Development, Financial Incentives, Project Finance, State Updates