Sunday, March 3, 2024

Downtown Toledo is the location of big funding

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TOLEDO, Ohio (WTVG) – If you’ve been to downtown Toledo recently, you know there’s a lot of construction going on right now. One city block in particular is undergoing tens of millions of dollars of renovation and redevelopment work. Several projects are ongoing along Summit Street between Jefferson and Monroe.

The convention center and the old Park Inn, which will now be a Hilton hotel, will both be renovated. The old Seagate Hotel was also demolished to make way for a new park. Fort Industry Square is also being redeveloped and Summit Street itself is currently undergoing extensive infrastructural work. It all adds up to a fundamental change for a block that had a lot of empty properties not so long ago.

“The conversion of these buildings brings new residents with it, which in turn creates new businesses and jobs,” says Brandon Sehlhorst, Commissioner for Economic Development for the City of Toledo. “It’s kind of a catalytic impact that’s based on investment. This block alone represents an investment of over $ 140 million … Fort Industry Square is a unique opportunity for us as an entire urban block is being redeveloped at the same time. “

This property will become 93 homes and 65,000 square feet of office and commercial space. And while the city of Toledo supports the projects, most of them are the result of private sector investments, according to Sehlhorst.

The good news doesn’t end here. A river path and a bike path are also being built in the city center.

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