Seven historic buildings in Toledo are among 43 statewide that are getting tax credits from the state of Ohio as incentives for preservation, state officials announced Wednesday.
More than $68 million in tax credits are being divided up among 35 projects in 12 communities, including Toledo, as part of the state’s Historic Preservation Tax Credit Program.
The projects are expected to leverage approximately $691 million in private investments, according to a statement from Ohio Gov. Mike DeWine’s office.
The Spitzer Building, 520 Madison Ave., led all of the Toledo structures with a tax credit of $9.2 million.
“We're thrilled the state has made that award,” Lucas County Land Bank President and Chief Executive David Mann said. “It's a huge shot in the arm and a vote of confidence for us.”
The Lucas County Land Bank’s board of directors agreed in early 2023 to hire the Cincinnati-based Model Group to transform the 11-story Spitzer and 17-story Nicholas buildings, two of downtown Toledo’s original skyscrapers.
The land bank bought the two properties in 2020.
They are part of what’s known as downtown’s Four Corners at the intersection of Madison Avenue and Huron Street, where all four original buildings remain.
The Spitzer was one of Ohio’s earliest skyscrapers when it was constructed in the 1890s.
The state also awarded $10 million tax credits to the Nicholas Building last December.
“That’s $19.2 million for the two buildings,” Mr. Mann said.
The two buildings are being treated as a single, $190 million restoration project. While the tax credits for the two buildings cover about 10 percent of the costs, a lot more money needs to be raised before the work begins, he said.
“It doesn't make sense to get that all going until the project is fully funded,” Mr. Mann said.
The city’s economic development department is working with the land bank on the dual-building redevelopment project.
“We are grateful for the state of Ohio’s continued investment in our efforts to redevelop the historic and iconic Spitzer Building,” Toledo Mayor Wade Kapszukiewicz said in a prepared statement. “This award will significantly advance one of the largest housing projects in our city. Additionally, this announcement marks the most funding and the highest number of projects Toledo has ever secured through the historic tax credit program since its inception with seven projects receiving an award.”
The Four Corners project “provides exciting retail and housing possibilities in a strategically important part of downtown Toledo,” he added. “The Spitzer Building is an important part of our history, and, with this award, it continues to be crucial part of our future, too.”
The Ohio Department of Development said the Spitzer Building will be converted into 152 residential units and five commercial spaces. The existing penthouse will be converted into resident amenity space, and many historic features will be retained on both the interior and exterior.
The building featured Toledo’s first enclosed shopping arcade and office space on the upper floors. It was owned and operated by the Spitzer family until 2009. The building was vacated in 2013 for safety reasons. It has been empty since then.
Other local buildings receiving tax credits and their respective scope of work is as described by the Ohio Department of Development:
● The Spicer Manufacturing building, 4100 Bennett Rd., is getting $1.7 million of tax credits for a $11.8 million project to restore the building to its historic use as an automotive manufacturing facility for small-part assembly.
All nonhistoric features will be removed, and a new roof will replace the deteriorating one. Rehabilitation will ensure the building meets updated building codes and enhances safety.
Originally constructed in 1928, the Spicer Manufacturing building was best known for manufacturing the World War II Army Jeep. The building, and its 1930 and 1972 additions, need extensive repairs because of years of neglect.
● The Superior Building, 317 N. Superior St., is getting $1.4 million of tax credits for a $10.4 million project that calls for the building to be repurposed into a mixed-use space comprised of a restaurant,19 residential units, and amenity space. The original brick facade below the 1959 metal paneling addition will be uncovered and restored.
The Superior Building was built in 1904 in Toledo’s Madison Street Historic District primarily for office space. The building has undergone several changes, including a 1959 project to clad the first floor in granite and cover the upper floors with a metal curtain wall.
● The Hoppe & Strub Bottling Co. building, 42 S. Superior St., is getting $891,161 of tax credits for a $7.2 million project that will involve renovation of the the second and third floors as an event center. The rejuvenated areas will include a commercial kitchen, bridal suites, ballrooms, and bar area.
Long known as the home of Spaghetti Warehouse, the Hoppe & Strub Bottling Co. building was constructed in 1895 as a mineral water bottling operation. It continued to serve industrial uses until the restaurant moved in during 1987.
● The Okun Produce Building, 33 N. Huron St., is getting $855,000 of tax credits for a $5.2 million project that will convert the building into 14 residential apartments, office space, and first-floor commercial space. The building will retain historic features and focus on cleaning and re-pointing masonry work.
Built in 1896 for Jackson Lee & Co., a wholesale produce house, the building was later bought in 1945 by the Okun Family for their expanding produce business. The Okun Produce Building was once the largest and best-equipped establishment in the state and was the last remaining produce house in the city.
● The Toledo Railways and Lighting Co. Building, 325 N. Superior St., is getting $250,000 in tax credits for a $1.3 million project that will convert the building into a mixed-use space with a restaurant and four residential units. Repairs include tuck-pointing exterior stone, a new storefront, and new windows and doors within historic openings.
A Queen Anne-style building, this structure was a part of Toledo’s Central Business District. It was historically used as office and commercial space. It has been vacant since 2017.
● The Himelhock Building, 1018 Adams St., is getting $187,700 for a $793,461 project that will be converted into a private lounge and retail space, complementing the area’s revitalization into an entertainment district. Restoration focuses on repointing brick, replacing missing coating and draining, and replacing the light wells.
Located in the Uptown Toledo Historic District, the Himelhock Building was built during Toledo’s urban evolution in the early 1900s. It was used by a variety of commercial tenants, including a barber shop, hat cleaner, accounting school, and restaurant. It has been vacant since 2017.
“As our downtowns and neighborhoods grow and evolve, it’s important that we preserve Ohio's historic spaces in a way that drives further investment into our communities,” Governor DeWine said in a prepared statement. “By supporting these renovations, we're reviving historic buildings that stood prominently in the past so that they can contribute to Ohio's strong economy and growth in the future.”
Lt. Gov. Jon Husted said that redevelopment “preserves our existing historic spaces while creating new opportunities for housing, businesses, and communities.”
“Through the Ohio Historic Preservation Tax Credit Program, we provide the resources to preserve the character of our downtowns and neighborhoods and tell the story of Ohio,” said Lydia Mihalik, Ohio Department of Development director.
Most Popular
Comments / 0