Two Toledo historic building redevelopment projects will move forward with the help of more than $1 million in Ohio tax credit assistance, officials said Wednesday.
One is the former Barber Farris Produce Warehouse, at 144 S. Huron St. in downtown, which has sat vacant for more than 15 years. Toledo developer IBC Inc. bought the building last year, property records show.
The plan for the $8.3 million project — awarded an $823,396 tax credit — is to transform the former produce wholesaler into eight apartments and space for five commercial tenants on the ground floor, including a bar, restaurant, retail space, and offices, a state announcement said.
The other project awarded state assistance is the Craft Master Building at 328 N. Westwood Ave., vacant since 2001 and is also owned by IBC. The 260,000-square-foot central Toledo structure, built in 1946, for decades manufactured and stored Craft Master Paint-by-Number products.
The $2.1 million project — awarded a $250,000 tax credit — will serve office, warehouse, and light manufacturing tenants, officials said.
Gov. Mike DeWine announced the Toledo awards alongside 36 others around the state on Wednesday, totaling $40 million worth of tax credits as part of the Ohio Historic Preservation Tax Credit Program, awarded by the Ohio Department of Development. It is the 28th round of funding doled out from the tax credit program, which announces awards twice a year.
First Published June 22, 2022, 3:57 p.m.
