Dayton Arcade renewal project close to $96M in crucial financing, tax credits

The “next chapter” of the Dayton Arcade is “hitting its stride,” as developer Cross Street Partners is nearing $96 million in public tax credits, the Dayton Daily News reports. The project “is eyeing a capital stack” including $36.5 million in New Market tax credits, $22 million in housing tax credits, and $25 million in state and federal tax credits. PACE (property assessed clean energy) financing, $1.2 million in Montgomery County ED/GE development help, a $10 million loan from the city of Dayton, and a $900,000 JobsOhio grant are also “in play,” according to the article. David Williams, Arcade project manager for Cross Street, said, “[w]hat we’re really trying to do is write the next chapter” of the Arcade, with plans for restaurants, retail, affordable housing units, fine arts space, a University of Dayton innovation center, and more. For more, read the full article.  

Economic Development, Financial Incentives, Project Finance, State Updates