Fast Facts: Arcade Developers One Step Closer to Fully Funding Project

Mike Colvin Fast Facts

The Dayton Arcade took another important step toward the end goal for the project when the Ohio Housing Finance Agency approved about $22.5 million in Low Income Housing Tax Credits, plus a $4 million low-interest housing development loan. The Arcade also is getting a $4 million loan for new housing. Financing is nearly complete, and developers Cross Street Partners and McCormack Baron Salazar continue to push to close on the property. Funding sources include state and federal historic tax credits, new market tax credits, low income housing tax credits, a $500,000 Economic Development/Government Equity agreement for the Arcade Innovation Hub from Montgomery County, and a $10 million city of Dayton loan.

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