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Old 08-24-2014, 12:02 AM
 
Location: Beavercreek, OH
2,194 posts, read 3,014,610 times
Reputation: 2334

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If the county takes possession of the Arcade (which it could certainly do at a tax lien sale), the question doesn't become the one-time restoration costs but rather the yearly maintenance cost. While the cost per capita may seem low on its face (a $150 million restoration would cost each of the 500,000-odd county residents about $300), it's only levied on property owners, if you're talking about millage.

You could probably spread the millage out over time - say one or two mills on a countywide basis and use that to get bonds for the restoration. But then there's the ongoing maintenance - heating and cooling and other work that needs done. I just don't think the county could ever get its money back on the building... even if they managed to turn it into a downtown mall again? Who would frequent it?

Your typical mall - if you tried to emulate the suburban chain stores - are going to be well out of the price range of most people who live downtown, except for the small number who live in the core of the city. Pretty much anyone in an outlying neighborhood is more likely to shop at Big Lots or the local Goodwill outlet... that's a simple matter of economics. Furthermore you have to consider the arcade's proximity to the RTA hub downtown... less than two blocks. There's a reason why CBCB moved, and there's a reason why the Salem Mall is gone... those two reasons are one and the same.
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Old 08-24-2014, 12:09 PM
 
3,515 posts, read 3,784,740 times
Reputation: 1813
^Yes, I don't think the county could ever get their money back on the building either.


Bringing it back online would not be for-profit, it would be a quality of life enhancement, just like the taxes used to pay for Riverscape or the bike trails. Basically, what I'm saying is we as a community have to ask ourselves whether or not it is worth it to save the Arcade. I think any hope for profit or commerce at the building is out of the question, just based on downtown office vacancy rates alone.

But right now, there would have to be a plan for why to repair it. In Cincy, Music Hall and Union Terminal have obvious purposes. The Arcade, aside from its historical use, does not. I think people would be willing to vote to save it by implementing a tax (or demolish it) even in the near term without a plan, but if we as a community seriously want to keep it, there has to be an end which the Arcade will become.
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Old 08-24-2014, 12:27 PM
 
Location: Five Oaks
430 posts, read 447,868 times
Reputation: 323
Quote:
Originally Posted by hensleya1 View Post
Pretty much anyone in an outlying neighborhood is more likely to shop at Big Lots or the local Goodwill outlet... that's a simple matter of economics.
Really, dude?
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Old 06-01-2015, 01:14 PM
 
1,328 posts, read 1,045,620 times
Reputation: 288
Dayton Arcade is structurally sound, report says - Dayton Business Journal
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Old 06-01-2015, 01:22 PM
 
Location: Dayton, OH
19 posts, read 15,164 times
Reputation: 20
This is great news! Thank you for posting.



I've wondered if the "Friends of the Arcade" group is still around, still active. It seems that most of the info/web links that I've found to it are a few years old.

Is the Arcade complex still owned by that pair from Wisconsin, with ties to Germany, who bought the property in 2009? Or has it changed hands since then?
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Old 06-01-2015, 01:56 PM
 
1,328 posts, read 1,045,620 times
Reputation: 288
You're welcome. I think, HOPE, the city has taken it from them for not making payments.
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Old 06-02-2015, 06:33 PM
 
3,515 posts, read 3,784,740 times
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^That is great news above about the Arcade! Hopefully it can be repurposed well. Not sure if any retail / non-pay public space would work though. Would have to be well secured. But the idea of more apartment and class A office space seems on point! But I'm still hoping for a museum or government institutuion in the space.....

As for Gunther and Berg, I'm really surprised they didn't get it to work out. They had a solid track record! But they dropped the ball here.
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Old 06-03-2015, 03:38 PM
 
Location: Five Oaks
430 posts, read 447,868 times
Reputation: 323
I still think the Arcade would be an awesome aquarium. That's my pipe dream: an attraction in Dayton proper.
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Old 06-04-2015, 09:24 AM
 
1,328 posts, read 1,045,620 times
Reputation: 288
Notice the difference in the mayor's comments/tone and everyone else's.

Dayton Arcade redevelopment | www.mydaytondailynews.com
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Old 06-04-2015, 11:07 AM
 
26 posts, read 18,872 times
Reputation: 33
She sounds like she would have been happier had the Arcade been deemed structurally unsound. Now she is going to be met with a lot of resistance to demolition that she wouldn't have had otherwise. I really hope it doesn't get demolished. Its the last thing that distinguishes Dayton from just any other small Midwest town
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