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Water Street Development Signs Anchor Tenant PNC Bank
DAYTON -- The Water Street District development planned for the downtown Dayton riverfront took another key step forward Friday with the signing of PNC Bank as the anchor tenant of the four-story office building to be built near the intersection of Patterson Boulevard and East Monument Avenue.
PNC will occupy the upper two floors of the 50,000-square-foot, four-story structure.
City officials say the groundbreaking is expected within 30 days, and construction is expected to be complete by the end of 2014, with occupancy in early 2015.
"Dayton is a growth market for PNC and we are moving our downtown headquarters to enable us to continue to serve clients in a premier office environment," said David Melin, regional president for PNC Bank, Dayton. "We believe it is essential to keep PNC in our urban core, and the Water Street development is a reflection of our long-term commitment to the Miami Valley."
Mayor Nan Whaley welcomed news of PNCs commitment to Water Street.
City leadership has envisioned development at this site since the late 1970s, Whaley said. This investment will not only leverage one of the regions most unique assets -- the confluence of the Great Miami and Mad Rivers -- but also leverages our communitys previous investments at RiverScape and Fifth Third Field.
Montgomery County Commission President Dan Foley said Water Street adds to positive momentum in downtown Dayton.
This is a great addition to a downtown that is already attracting more people to live and work there, Foley said. The private sector response to the demand for downtown housing proves there is a new, exciting vibe in our urban core. Thats key to our regions ability to attract and retain talented young professionals.
The $33.5 million first phase of the Water Street development includes four elements: 1) a 50,000-square foot Class A office/commercial building fronting Patterson Blvd.; 2) 150 luxury rental apartment units with river, city and stadium views; 3) a three-level parking garage serving the office and residential users; and 4) public infrastructure improvements, such as utilities, roadway improvements, lighting and landscaping.
Water Street is being developed by Columbus-based Crawford Hoying and Dayton-based Woodard Real Estate Resources.
Office space and retail/restaurant space are available in the Water Street office building. For leasing information contact Jason Woodard at 937-232-7330.
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