Dayton Arcade secures $41M in funding for hotel, retail hub

DAYTON — The Dayton Arcade has closed on funding for its second phase of redevelopment.

This will convert two buildings, the North Arcade’s Third Street Arcade and Gibbons Annex, into a Hilton Garden Inn and retail hub.

Arcade developers said they have secured funding for $41 million.

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The hotel will have 94 rooms and a lobby entrance from Third Street.

The hub will have enough room for around 15 small retailers.

“It is a great finish to an amazing project and will be catalytic for the Main Street corridor, as well as providing much-needed support for the Convention Center,” Dave Williams, Vice President of Development for Cross Street Partners said.

Seven of the Arcade’s nine buildings have been restored.

The first phase of the Arace project cost more than $90 million

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