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Largest Dayton-area real estate firm gets new digs

Published: Wednesday, September 13, 2017 @ 1:06 PM


            Managing Partner Ron Sweeney stands outside Coldwell Banker Heritage’s new office on Yankee Street.
            Kaitlin Schroeder
Managing Partner Ron Sweeney stands outside Coldwell Banker Heritage’s new office on Yankee Street.(Kaitlin Schroeder)

The largest residential real estate brokerage in the region now has a new home for dozens of agents and its luxury brand.

Coldwell Banker Heritage, which is on pace to hit about $950 million in sales volume overall this year according to the company, opened a new modern office at 8534 Yankee St. that it’s renaming it Coldwell Banker at Yankee Centre.

The Yankee Street office should generate roughly $250 million in sales, and it will be home to its Global Luxury Office for sales, with agents out of the office responsible for many of the top luxury sales in the region.

Managing Partner Ron Sweeney said Coldwell out grew its other two offices near the Dayton Mall and in Centerville, and combined them to the new space that better meets its needs.

“With technology things changed. We needed a little more of a modern facility,” said Sweeney.

RELATED: Local home sales heat up

Sweeney said real estate agents are a mobile workforce who need somewhere with a flexible layout to move around in, and the new Yankee Street office has a mixture of different kinds of work stations like private and semi private offices, drop in offices and open areas. The new office, which can house up to 75 agents, also has all the agents on one floor instead of disconnected across three floors like the previous offices, which were also didn’t have elevator access and were not accessible for aging clients.

As the company grew and technology changed, the Coldwell was in need of a new building with a modern layout. It was difficult to have a mobile workforce when the walls weren’t built for wireless routers to send signals through. The old offices served their purpose well at the time, but Sweeney said it was time for new space.

“Now this building is going to serve our purpose for the next 20 or 30 years as well,” he said.

RELATED: $380 million Springboro development moves ahead

The new facility will also fit with Coldwell’s luxury home sales program. Sweeney said more than half of the top 25 highest priced home sales in the region were coming from his office.

“It has a nice look to match the luxury part of the brand,” he said.

Sweeney said Coldwell’s agent count is up to close to 380, compared to 2011 when the franchise had close to 260 agents. Along with the franchise’s new Yankee Street office, it has sales offices in Troy, Springboro, Springfield, Vandalia, Kettering, Huber Heights and Beavercreek and a home office also in Beavercreek with its corporate functions and training facility.

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The agency also recently brought on an experienced commercial broker, Ric Moody, to lead Coldwell’s commercial real estate side in the region.

Coldwell’s agent growth is part of a broader trend of brokerages adding to their agent count as the housing market recovers from the recession. The Dayton Area Board of Realtors, which represents Darke, Preble, Montgomery, Greene and Warren counties, said its agent count is up to 2,885 at the end of June, up from 2,200 at the bottom of the market crash around 2012.

“The market is much better than 2010 and ‘11, which naturally draws in newer people but we also recruit experienced agents might want to join,” said Sweeney.

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Port Authority to boost Arcade improvements, save project $1M

Published: Monday, June 18, 2018 @ 2:50 PM

The Dayton Arcade rotunda, perhaps the most recognizable part of the Arcade. FILE
The Dayton Arcade rotunda, perhaps the most recognizable part of the Arcade. FILE

On Monday, the Dayton Montgomery Port Authority Board of Trustees voted to have the Port support the downtown Dayton Arcade development project, agreeing to enter into four ground leases for four component parcels of the Arcade.

The Port will enter into capital lease agreements with four limited liability companies that own the Arcade’s component parcels, said Jerry Brunswick, executive director of the Port Authority.

The support will help save an estimated $1 million in sales taxes on materials used to improve Arcade, Brunswick said.

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“That’s valuable,” he said.

The trustees voted unanimously to participate in redevelopment of the historic downtown Arcade after a closed executive session lasting more than an hour. The vote took place without public discussion.

Consisting of nine buildings covering more than 330,000 square feet — including structures that go back nearly 120 years — the newly re-developed Arcade is expected to have commercial, retail, educational and residential elements. Key possible tenants such as the University of Dayton and Dayton brewer Warped Wing have expressed interest in a place at the Arcade, as have Boston Stoker and the Dayton Visual Arts Center.

PHOTOSTour the Conagra Brands plant in Troy 

Just last month, the city of Dayton agreed to loan $10 million to the Cross Street Partners-led development partnership that said it now has secured nearly all of the financing it needs for a $95 million rehab of the southern portions of the Arcade.

When the Port Authority owns land, it can offer construction companies and developers several tools to boost construction projects, including a shield from expensive sales taxes on construction materials.

“Our ownership facilitates sales tax exemptions for these properties,” Brunswick said. “That will save them, the project operators, somewhere in the neighborhood of $1 million.

“You can see that as part of the overall source of financing for the project,” he added.

He noted that the resolution trustees approved holds that the Port Authority’s participation is contingent on all the participating entities “coming together.”

“Our board’s approval of this means we’re one step closer — and it’s a significant step closer,” Brunswick said.

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Did Kroger make the list? America’s top 13 favorite grocery stores

Published: Monday, June 18, 2018 @ 11:24 AM

Kroger Closing Some North Carolina Stores

Some grocery chain have shoppers who are majorly loyal to their stores.

Marketforce surveyed nearly 13,000 U.S. consumers, and asked them about their grocery shopping habits including brand preference, customer experience and brand awareness. About 48 percent of customers were very satisfied with their customer experience during their last grocery visit, according to the survey.

» TRENDING COVERAGE: 5 surprising ways Kroger is changing stores in 2018

So, what brands rank highest for customer loyalty? These stores came out on top:

1. Publix Super Markets

2. Wegmans

3. Trader Joe’s Market

4. H-E-B

5. ALDI

6. Harris Teeter

7. Hy-vee Food Stores

8. Costco

9. WinCo Foods

10. While Foods Market

11. Fry’s

12. Kroger

13. Target

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NEW DETAILS: Columbus firm could take reins of downtown Dayton project

Published: Monday, June 18, 2018 @ 11:30 AM

The Fire Blocks District is centered around the 100 block of East Third Street. CORNELIUS FROLIK / STAFF
The Fire Blocks District is centered around the 100 block of East Third Street. CORNELIUS FROLIK / STAFF

A Columbus-based company is looking at taking over a project to redevelop of the Fire Blocks District in downtown Dayton, which faces a key deadline this month related to state tax incentives.

Dayton’s city manager and other sources have confirmed with the Dayton Daily News that the Windsor Companies is interested in the project.

Scott Gibson, CEO of the Ellway Group, confirmed there is a group attracted to the project, but declined to identify them.

The Ellway Group owns many buildings in the Fire Blocks District, which is centered around the 100 block of East Third Street.

RELATED: Dayton Fire Blocks District could get new developer

Windsor Companies was behind the renovation of the Vetro Lofts in Italian Village in Columbus.

Windsor bought the building in 2013 in a court auction for $4.3 million and converted its apartments into 35 luxury condos, which are very modern and sleek, according to the Columbus Dispatch.

Units are selling for more than $300,000. The Dispatch identified Alex Dorsey as the principal of Windsor.

In 2013, Windsor purchased a vacant senior housing complex in Hilliard for about $8.3 million, not including the costs of a negotiated settlement with bond investors, according to Columbus Monthly.

The Dayton Daily News has contacted the company and will update the story with its responses.

RELATED: Dayton’s Fire Blocks faces deadline, could lose $4.5M in funds

Time is running out for a project to rehab two of the Fire Blocks buildings: the David (or Huffman Block) building and the Elks building.

In 2016, Ellway Group was awarded about $4.5 million in state historic tax credits to rehab the structures.

But earlier this year, the state told the developers that the project had not made sufficient progress. The state gave developers until the end of this month to prove the project has financing or return the tax credits.

Last week, Downtown Dayton Partnership Executive Director Sandy Gudorf said the Fire Blocks redevelopment plan was being restructured and a new developer was at the table.

Though she declined to identify the company, she said they have the capacity and vision to get the project completed.

CityWide president Brian Heitkamp also confirmed last week that the Fire Blocks project could get “new blood.”

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Construction begins on hotel near Rose Music Center

Published: Monday, June 18, 2018 @ 11:05 AM

This rendering shows a typical Tru by Hilton hotel. CONTRIBUTED
This rendering shows a typical Tru by Hilton hotel. CONTRIBUTED

Early construction has begun on a new hotel near the Rose Music Center at The Heights in Huber Heights.

Footers and cement work are in place, said Donnie Jones, Huber Heights assistant city manager.

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“I think all the ground work is either finished or underway,” Jones said Monday.

A building permit filed with the city of Huber Heights gives the value of the project as $6 million and identifies the contractor as Alpha Construction. The address is 7000 Executive Blvd.

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The hotel will be branded Tru by Hilton. The concept involves smaller, efficiently designed rooms with larger lobbies, approaching 3,000 square feet, offering room for work and games.

Hilton describes Tru as “a brand-new hotel experience from Hilton that’s vibrant, affordable and young-at-heart.”

The site’s developer, LAXMI Hospitality LLC, will construct a multi-story hotel with 88 to 100 rooms, City Manager Rob Schommer told this news outlet last month.

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