Warehouse Downtown - anyone got info?

It's the berdan building.

http://www.toledoblade.com/local/2012/03/24/Developer-bewildered-as-deal-folds.html

word is there are some new developers eyeing it closely.

Toledo doesn't succeed unless the downtown doesn't succeeds.

The downtown doesn't succeed unless areas like the Warehouse District succeed.

Places like the Warehouse District won't truly succeed unless the Berdan Building is developed.

It is crucial for the district, and city, for this building to be flipped. You'd have a nice cluster of residential buildings and the stability downtown would get juuuust a little bit better. At some point, we hit critical mass and a NEIGHBORHOOD develops. A neighborhood, of course, is greater than the sum of all of its parts and the snowball starts to roll. I can't think of another major empty building in the district to revitalize, am I wrong? At that point, parking lots become the target. It can be exciting stuff, but this building needs to get developed SOOOOOON.

https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-snc6/s320×320/156422_4067314127673_1426890041_33634804_533934007_n.jpg

Toledo could have a very, very strong area right here.

It seems that the plans to develop it have been scrapped because the city screwed up.

can someone pull up who the owner is? I cant get the tax tool to work for me >.<

I just read the Easy Street thread, the Xerox building is vacant? That really, really sucks. But that too screams potential for lofts. It's a fine building, and fan fit A LOT of people.

The way I interpreted the article is that the city is using all of its resources on the Fiberglas Tower....is that not the case? You never know with Toledo.

buster, berdan is going to happen, sooner than later, but not with any developers that have already publicly shown interest. it's a no brainer property as far as location is concerned. some very smart people are currently looking at it...

fiberglass is moving forward. they are just waiting on some tax credits. it will be awesome to get the marriott in there. xerox hasn't been vacant more than a few months. it's a giant building and in good condition. if everything else moves forward in a positive direction, there is no reason it won't too.

but hey, that's just me thinking positive. :)

We need positive thinking. If this place had a rep function, you'd be getting some right now.

Ohio Kimono - I can pull up the AREIS information for you if you give me the street number and address. I'll do it in the morning for you and post it here.

OhioKimono, just an aside - I hope you aren't going inside all these vacant buildings alone? It can be dangerous.

The address is

601 Washington, Toledo Ohio

It might be Washington Street, don't know.

I hope this location moves forward. This is somewhere that I would want to live if not for the kids. My husband and I have agreed that when the kids are out of high school we will be looking at one of these downtown loft apartment type places.

OhioKimono - contact RL West. They may be able to help you.

Designed by George Mills engineered by George Rhines. Built in 1901/02 for Berdan & Co a grocery wholesaler established 1836 (Toledo's first mayor was John Berdan). It was designed in the prevalent Chicago style.

Especially for building in the downtown and adjacent neighborhoods, you ought get the books by jim speck or at least the walking tour booklet from the local history department of the library. the library is certain to continue their weekly walking tours of the downtown area this summer.

As far as the development being scrapped, etc, and it's relationship with the Fiberglas Tower: both developments were proposed around the same time, and were applying for the same kinds of loans and grants. Landmark RE with Berdan, Eyde Co with Fiberglas. Landmark was only going to be covering about 5% of the cost and looking for leverage with the rest, and had no firm tenants. Eyde's plan involved them covering about 1/3rd of the costs themselves, and they had Marriott signed on to take half of the floors in their building. In the end, the Fiberglas looked like a very safe bet, and Berdan looked like a long shot, so the city (I think wisely) decided to give Eyde the green light and not put themselves at risk with Landmark.

Address is actually 1 S. Erie which is why it's hard to find in the AREIS system.

It's owned by the Parkstone Berdan Building LLC with a mailing address of 7266 Crossleigh Crt. #101.

The bank data says "Foreclosure cases title work ordered/rec'ed. Under remarks dates 7-14-2009 it says "K-53936 BTA CASE #07-A1721,2006-08." I think this is the bank forclosure data, but I'm not sure.

4 Stories built in 1902 classified as Commercial Warehouse on .95 acres.

It was purchased from Root Development for $1.35 million on 1-26-2006.

Current 100% value is $675,000. Shows unpaid taxes for first half of year of $71,032.19 and $82,016.47 due for the second half.

No structure sketch was available.

Hmmm.

I am really tempted to track down a number and make a few calls about this place to try and get legal access since it is structually sound.

It is far from structurally sound. Every time I walk the building, there is a new hole through the floor system. The roof needs replaced badly. They had planned on getting the roof repaired but then the city deal fell through.

Maggie, don't forget 23 S. Erie Street, which is the 2nd part of the property. Add another 27k unpaid property taxes, which will be 30k once the 2nd half is billed.

100k of unpaid property taxes...and counting.

Slow - not to be too personal but why are you walking those floors? What's the space like? Got anything else you'd care to share?

As for the back due taxes, wow I can't ven imagine the total back due taxes sitting around in this city.

Yeah, there's a lot. And as the back taxes build, it becomes less and less feasible for a developer to make use of the property, since that's just a swelling debt they'd have to take on, in addition to whatever the cost would be of refurbishment.

The city has been working with the Lucas County Land Bank in some instances to work with new owners to forgive things like that, provided they restore the places to stable conditions in a prescribed amount of time. Works out as a win-win, because the community gets a usable structure, and the city gets a source of revenue for the future. Kind of the "can't squeeze blood from a turnip" kind of thing.

Yeah they have ted that in the past, some things are looking like they may happen some of has been sitting for a while before that. Steam Plant, Marina District, Fiberglass Tower, among a few and I'm sure there are plenty more.

Is there a way to PM on this? It has to do with my job.

The building is a "joisted masonry" building. Meaning the exterior walls are masonry, but the entire interior superstructure is wood posts and beams. The beams are rotting in my many places. It was built like a tank when it was built. Unfortunately it has not been maintained properly.

Email me... silent_creed@hotmail.com

Also I just got legal access to the PowerPlant demolition to do a photoshoot.