SPRINGFIELD — The state has awarded a $5 million tax credit to help transform a historic building in Springfield.
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The project is trying to bring back life into a staple in downtown Springfield — the old Fairbanks building.
“They have to be fixed up, I don’t think they should tear down anymore of these old historic buildings,” Vincent Crawley said.
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Crawley said the Fairbanks Building in Springfield is a piece of history, despite the boarded-up windows.
“I think they should find new use for the building,” he said.
Crawley has watched Springfield change over the past 40 years.
The Ohio Department of Development awarded a $5 million tax credit to redevelop the Fairbanks Building and bring in new jobs and housing.
News Center 7 reached out to Springfield, a city spokesperson issued the following response:
“The City of Springfield welcomes the announcement by the Ohio Department of Development of the $5 million Ohio Historic Tax Credit award to support the redevelopment of the historic Fairbanks Building, a nearly $28 million private investment that represents continued confidence in our downtown and our community’s future.
The City congratulates AP Development LLC on receiving the historic tax credit and is excited to support the redevelopment of this critical building in downtown Springfield. According to Assistant City Manager and Economic Development Director Tom Franzen, “This project is about more than a single building. Redeveloping the Fairbanks Building will serve as an additional catalyst for local economic growth. Transforming a long-vacant, deteriorated property into productive use will stimulate private investment, increase commercial activity and signal renewed confidence in the downtown market.”
The redevelopment builds on significant progress already underway in downtown Springfield, including the recently revitalized City Hall Plaza, parking garage, expanded dining options and additional redevelopment projects currently moving forward, such as the WREN apartment building. Together, these investments are transforming downtown into a more vibrant, walkable and economically active center. This is a significant win for AP Development LLC and Springfield—one that will deliver benefits for decades to come."
The building has been vacant since 2023.
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