Ohio Site Inventory Program Modernizes 1900 Founders Drive

A 140,000 square foot office building at 1900 Founders Drive in western Ohio will receive an update to attract economic development opportunities

Posted on March 5, 2021May 25, 2021

The site: 1900 Founders Drive
Company: Industrial Commercial Properties LLC
City: Kettering
County: Montgomery

Project Summary:

JobsOhio program: Ohio Site Inventory Program (OSIP)
- About: OSIP offers grants and low-interest loans to support speculative site and building development projects with no identified end user.
Type of Inventory: Commercial Office
Capital investment: $7,548,929
Site details: 140,000 square foot office building

The Need:

The city of Kettering will consider an economic incentive grant for the modernization of a 140,000 square foot office building at 1900 Founders Drive.

Industrial Commercial Properties will lead improvements and property renovation. The upgrade will strengthen the city’s opportunities for economic development, as well as redevelopment. This, in turn, promotes the potential for new employment opportunities in the community.

Testimonial:

The investment in this property will allow us to market the site to businesses and site selection consultants as a premier office location. We’re grateful for the support from Kettering, JobsOhio, the Dayton Development Coalition and their vision for the site.”

— Chris Semarjian, owner, Industrial Commercial Properties

By facilitating ICP’s improvements and property renovation, we strengthen the city’s opportunities for economic development, as well as redevelopment. This, in turn, promotes the potential for new employment opportunities within our city. Therefore, the city offered ICP economic development incentives in the form of a reimbursable grant.”

— Mayor Don Patterson, the city of Kettering

About the Development:

The building at 1900 Founders Drive, one of the first in the Miami Valley Research Park, was built in 1986 and has been vacant since 2018. The renovation work would help bring the building back up to Class A office space.

After improvements, the site would be primed for defense contractors looking for space near Wright-Patterson Air Force Base, corporate headquarters, or regional offices. Large Class A office space is rare in the region, with no sites with more than 25,000 square feet available in the East Dayton market.

CLICK HERE to read more.

Collaborators:

JobsOhio, the Dayton Development Coalition, and the city of Kettering

Categories: Site Inventory Program