Good News for Downtown Dayton (Columbus, Cleveland: appointed, apartments, insurance)

[TomJones123]

Originally Posted by TomJones123

I do wonder if Dayton has begun to stabilize yet from it's population losses. Time will tell.

jbc - I didn't specify, but the census estimate was what I had in mind. Understanding margin of error and what not with the estimate, it would be a really cool development to begin to see Dayton stabilize. I talk about Dayton for what it is, a troubled city, but I REALLY want to see it turn around. After living there I can say the city has a lot of cool attributes.

[hensleya1]

Hi all--

I drive down Main St. every morning and afternoon to get to/from UD and I noticed that every day there were 2-3 moving vans parked outside the old 5/3 headquarters at 110 N. Main St. A bit of digging revealed this old article detailing that Premier Health Partners had bought the building for a fraction of the price and had were in the middle of moving to the building that they now own outright. Although I don't relish the thought of the owners of 40 West 4th trying to find another tenant of that size, knowing that Premier Health is making a serious investment in downtown and intends to stay is certainly a step in the right direction, especially since it gives them more room to grow. Combined with the new emergency facility in Jamestown and there will be more demand for administrative work as they grow. I'm glad to see that they're moving ahead with the move (and growth).

[CarpathianPeasant]

Originally Posted by hensleya1

Hi all--

I drive down Main St. every morning and afternoon to get to/from UD and I noticed that every day there were 2-3 moving vans parked outside the old 5/3 headquarters at 110 N. Main St. A bit of digging revealed this old article detailing that Premier Health Partners had bought the building for a fraction of the price and had were in the middle of moving to the building that they now own outright. Although I don't relish the thought of the owners of 40 West 4th trying to find another tenant of that size, knowing that Premier Health is making a serious investment in downtown and intends to stay is certainly a step in the right direction, especially since it gives them more room to grow. Combined with the new emergency facility in Jamestown and there will be more demand for administrative work as they grow. I'm glad to see that they're moving ahead with the move (and growth).

FYI hensleya1,

The real "institution" at 110 North Main was called Citizens Federal Savings & Loan Association, which converted to Citizens Federal Bank, which "merged" with 5/3. That Citizens Federal (there are several others still alive in the general area including one in Bellefontaine, Ohio, and one in Covington, Kentucky) had a fancy "savers' club" on an upper floor. Don't remember for sure, but something like $5,000 in deposit qualified you to stop in while downtown and have a cup of coffee and good Danish on them while sitting on a comfortable sofa. There were smaller rooms around a big central room which someone (like maybe a salesman without actual offfice space) could reserve to discuss business. Members could socialize over a polite card game in the afternoons (after the coffee and Danish) or sign up for group travel trips near and far. There were also lectures and shows. One of my elementary school classmates and a connection to a travel agency and used to put on travelogue discussions.

Meanwhile 5/6 does not have the best of reputations, and when they tried to charge me $5 to cash a check drawn on their bank, I, for one, decided there had to be better places to do one's banking.

[hensleya1]

Originally Posted by CarpathianPeasant

FYI hensleya1,

The real "institution" at 110 North Main was called Citizens Federal Savings & Loan Association, which converted to Citizens Federal Bank, which "merged" with 5/3. That Citizens Federal (there are several others still alive in the general area including one in Bellefontaine, Ohio, and one in Covington, Kentucky) had a fancy "savers' club" on an upper floor. Don't remember for sure, but something like $5,000 in deposit qualified you to stop in while downtown and have a cup of coffee and good Danish on them while sitting on a comfortable sofa. There were smaller rooms around a big central room which someone (like maybe a salesman without actual offfice space) could reserve to discuss business. Members could socialize over a polite card game in the afternoons (after the coffee and Danish) or sign up for group travel trips near and far. There were also lectures and shows. One of my elementary school classmates and a connection to a travel agency and used to put on travelogue discussions.

Meanwhile 5/6 does not have the best of reputations, and when they tried to charge me $5 to cash a check drawn on their bank, I, for one, decided there had to be better places to do one's banking.

Hi CarpathianPeasant--

I am reminded of Delta Community Credit Union which has a branch in Florence. They have free coffees, water bottles, and snacks inside their branch (which actually in my experience aren't taken advantage of very often). But that was, by far, the best amenities I have ever seen in any financial institution - and that was a credit union, not a bank. I'm with you with regards to big banks - I've had pretty much universally bad experiences with them. I still have a checking account at Chase which I use for online transfers, but apart from that I don't have any serious money at any larger institutions - most of my money is at Guardian Savings (which I highly recommend, by the way - their checking account is still yielding .70% even now) and the rest is scattered across a few credit unions.

[CarpathianPeasant]

Originally Posted by hensleya1

Hi CarpathianPeasant--

I am reminded of Delta Community Credit Union which has a branch in Florence. They have free coffees, water bottles, and snacks inside their branch (which actually in my experience aren't taken advantage of very often). But that was, by far, the best amenities I have ever seen in any financial institution - and that was a credit union, not a bank. I'm with you with regards to big banks - I've had pretty much universally bad experiences with them. I still have a checking account at Chase which I use for online transfers, but apart from that I don't have any serious money at any larger institutions - most of my money is at Guardian Savings (which I highly recommend, by the way - their checking account is still yielding .70% even now) and the rest is scattered across a few credit unions.

Thanks for the suggestion. I looked up Guardian and they have a number of branches on both sides of the river, but there's nothing near where I am, namely, about a city block from the riverbank. At Christmas time, one place where I bank does put out cookies and the like; but, that Citizens Federal did maintain something like an exclusive club facility, very tastefully decorated, two week member guided tours here and there for those that signed up as well as day trips.... I think it was the entire top floor (minimal bathroom services, free telephone included).

PS: I did mean to write 5/3 where it says 5/6 -- maybe they should have settled on a name that's less confusing.

[hensleya1]

Originally Posted by CarpathianPeasant

Thanks for the suggestion. I looked up Guardian and they have a number of branches on both sides of the river, but there's nothing near where I am, namely, about a city block from the riverbank. At Christmas time, one place where I bank does put out cookies and the like; but, that Citizens Federal did maintain something like an exclusive club facility, very tastefully decorated, two week member guided tours here and there for those that signed up as well as day trips.... I think it was the entire top floor (minimal bathroom services, free telephone included).

PS: I did mean to write 5/3 where it says 5/6 -- maybe they should have settled on a name that's less confusing.

Hi CarpathianPeasant--

From Covington the closest branch is probably in Fort Wright, at the top of the hill on Dixie Highway. Ask for Shari, she's the branch manager there. And I accepted your use of "5/6" because that's about how much of your money you'll keep if you bank with them long enough.

Back to the issue at hand, I drove by the old Citizens Federal building again this morning and saw a couple cube vans parked out front, with guys unloading stuff. So the move is in full swing right now. I wonder how much benefit this will convey on downtown Dayton? It'll be a benefit to the smaller businesses (Subway, downtown grocery, and other restaurants) along Main St, especially as they'll have much more room to grow in their new place.

I wonder, what with these large downtown buildings being sold at fire-sale prices - in the case of Premier Health Partners, something like $3.8 million - is there a decent percentage in buying an empty or near-empty commercial high-rise and converting it into condos?

[hensleya1]

Hi all--

This is what I've been seeing all week, so I took a picture of it as I went by:

[Natural510]

Nice to see downtown growth, but in the end health care is not really an economic generator. It provides a lot of middle-class jobs, which is good, but it's redistributed capital, which in itself does not translate to net job growth. The pensions of boomers from their now-defunct manufacturing jobs will carry health care in the region for the next couple decades than most, after that it will be mostly Medicare/Medicaid cases and benefits-light patients who work retail & such and can claim poverty which will be using health care in the region. Of course that could change with the return of manufacturing and other non-tech middle class jobs, but that's doubtful at this point.

[TomJones123]

Not to be a buzz kill, but compare that one moving truck and one occupied building to all the "For Lease" signs in downtown Dayton.

[hensleya1]

Originally Posted by TomJones123

Not to be a buzz kill, but compare that one moving truck and one occupied building to all the "For Lease" signs in downtown Dayton.

Hi TomJones123--

There's no shortage of demand for Class A office space at Austin Landing. But downtown's development will always be lacking unless they implement the last plank of my master plan to fix Dayton. Which would cut city taxes to anyone who lived and worked in downtown.

I'm currently a downtown resident. But after I graduate and begin practicing, what reason under the moon do I have to remain in the city and pay that 2.5% income tax when I can move ten minutes away, into Miami Township or Beavercreek, and pay no city taxes? That adds up to thousands of dollars per year. It's why Thompson & Hine moved from the Kettering Tower to Austin Landing - all those highly paid attorney's didn't want to pay those city taxes. And until the city cuts taxes, the downtown buildings will continue to lack in development.

I wonder if Premier Health Partners employees have to pay city taxes? Isn't that a non-profit group?