Miller-Valentine/Weyland Ventures Begin Renovation of the Dayton Motor Car Building
Construction has commenced on the long-anticipated renovation of the Dayton Motor Car Building, which will provide office space for Gosiger Inc. and attract like-minded tech companies to Dayton’s growing East Oregon Innovation District.
Renovation on the 80,000 square-foot building, located at 15 McDonough St., is a partnership with Weyland Ventures, a real estate development firm headquartered in Louisville, Ky., on the project.
Gosiger Inc., a machine tool and robotics automation firm located at 108 McDonough St., will lease the first two floors of the six-story building, expanding its growing operations in downtown Dayton.
“The renovation of the Dayton Motor Car Building enables our family business to continue to grow and expand in our current location while, at the same time, taking part in the revitalization of our neighborhood,” said Jerry Pressel, CFO of Gosiger, Inc.
Apex Commercial Group will handle leasing for the remaining four floors, which are about 12,500 square feet each, with the ability to subdivide each floor. The building’s concrete structure, open floor plates and expansive windows make it an ideal setting for office tenants looking for a contemporary space with lots of natural light.
“This is exactly the type of project we are excited to be a part of,” said Tony Witt, principal of Apex Commercial Group. “We look forward to contributing to Dayton’s renaissance by attracting creative and new office tenants to this project.”
Built around 1875, the iconic Dayton Motor Car Building originally housed a farm implement center and later produced automobiles, including the Stoddard-Dayton Motor Car. The building is part of the Dayton Motor Car Company Historic District, which was named to the National Register of Historic Places in 1984.
“This building represents a rich part of Dayton’s history that hasn’t been told for a long time. We are thrilled to restore this place to its former glory,” said Mary Kate Lindsey, project manager with Weyland Ventures. “The spirit of innovation that long animated the site will continue on for another century or more.”
To maintain the iconic architectural elements of the building, Miller-Valentine will restore the original windows and the exterior of the building and will run the mechanical, electrical and plumbing systems through the floors to leave the ceilings exposed. Antique fire doors will be repurposed throughout the interior.
Floors three through six will be fully painted, wired, plumbed and carpeted, but otherwise left unfinished to allow future tenants to customize the space.
The funding sources for the $18.2 million project include the Ohio Historic Preservation Tax Credit Program, a Citywide loan, a Downtown Dayton Investment Fund loan and a Jobs Ohio Revitalization grant.
“As is true with other Weyland Venture projects, we structured a complex financial approach to bring the capital required to invest in this challenging historic project,” said Lindsey.
The project is expected to be completed during the first quarter of 2020.
The renovation is part of Weyland Ventures’ long-term masterplan to extend the Oregon District east into a tech-centered Innovation District. Weyland Ventures and Miller-Valentine previously collaborated on the Wheelhouse building, which now houses a restaurant, commercial space, and apartments.
“We have enjoyed developing a relationship with Miller-Valentine on these adaptive reuse projects,” said Lindsey. “They know Dayton well and are very involved with community efforts. They are a great local community partner.”
“We are very pleased to be Weyland Ventures’ construction partner on this creative project and to be part of the major redevelopment efforts in downtown Dayton,” said Dave Dickerson, President Midwest Sales, and Development with Miller-Valentine. “Weyland Ventures has a strong interest and an intuitive sense of the downtown Dayton market. It’s exciting to be part of this long-term effort to revitalize downtown and to have a hand in shaping the future of these historic buildings.”