The Dayton headquarters of PNC Bank will be moving in to the new development known as Water Street, becoming an anchor tenant for the riverfront office building.
Water Street is meant to take advantage of the views of the river, mostly by putting in 150 luxury apartments, but the $33.5 million project also includes a four-story, 50,000-square-foot office space and a parking structure. PNC plans to take on the two upper stories of the building, and sell its current building at 6 N. Main St.
The Water Street development on Dayton’s river front is moving forward ahead of schedule following the Dayton City Commission's approval of the plan development last week.
Water Street as planned would be huge: 50,000 square feet of office space, hundreds of parking spaces and 161 residential units in the first stage of the project, which would be located right next to RiverScape MetroPark near the fork of the Great Miami and the Mad Rivers. The mixed-use project aims to compete with suburban developers.
The proposed Water Street development in downtown Dayton is one step closer to reality. The Dayton Plan Commission gave approval to the Water Street Project. The private redevelopment effort would span almost the whole stretch of riverfront from Riverscape Park to Tech Town. Support for the $36 million effort was overwhelming at Tuesday night’s meeting.
"The developer has money, has experience, knows what he’s doing, he’s not coming saying give me money, I’ll build it, he’s bringing money from Columbus to here," says Sandy Mendelson, a downtown businessman.