JobsOhio and the Dayton Development Coalition are assisting with the effort that includes up to $600,000 in grants approved by Kettering City Council Tuesday night, officials said in announcement today.
The Kettering incentives are part of an effort to provide Kettering Founders LLC grants “to attract new tenants” to 135,000 square feet of space on about 10 acres owned by Kettering Founders LLC at 1900 Founders Drive, records show.
The project will also receive support from the JobsOhio Site Inventory Program, which offers grants and low-interest loans to support speculative site and building development projects with no identified end user, officials said.
“Investing in 1900 Founders Drive will revitalize a building that has been vacant for too long,” J.P. Nauseef, JobsOhio president and CEO, said in the announcement. “With assistance from the Ohio Site Inventory Program, 1900 Founders Drive will be a premier site with a large space near Wright-Patterson, making it ideal for innovative companies that are looking to grow.”
The building, one of the first in the Miami Valley Research Park, was built in 1986 and has been vacant since 2018, officials said. The renovation work would help bring the building back up to Class A office space.
It was bought last year by Kettering Founders LLC, which is operated by Industrial Commercial Properties, a Cleveland-based business owns about 50 acres at the research park, officials have said.
“The investment in this property will allow us to market the site to businesses and site selection consultants as a premier office location,” said Chris Semarjian, owner of Industrial Commercial Properties, said in the announcement. “We’re grateful for the support from Kettering, JobsOhio, the Dayton Development Coalition and their vision for the site.”