The City of Kettering approved an Economic Incentive Grant for the modernization of 1900 Founders Drive.
“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, Industrial Commercial Properties Owner. “We’re grateful for the support from Kettering, JobsOhio, the Dayton Development Coalition and their vision for the site.”
The building, 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 as there are no other sites with more than 25,000 square feet available in the East Dayton market.
"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," stated Mayor Don Patterson. "Therefore, the City offered ICP economic development incentives in the form of a reimbursable grant."
The project will also receive support from the JobsOhio Site Inventory Program (OSIP). The program offers grants and low-interest loans to support speculative site and building development projects with no identified end-user. The primary goal of OSIP is to fill gaps in Ohio’s real estate inventory with properties targeting near-term sector wins to ensure our state is more competitive for reactive site selection projects.