Land Bank Seeks Developers for Spitzer + Nicholas Buildings

Four Corners Project Launches After Completion of Feasibility Study

Toledo, Ohio - The Lucas County Land Bank today released a request for proposals to redevelop the long-vacant Spitzer and Nicholas Buildings in downtown Toledo.

In 2020, the Land Bank acquired the buildings through tax foreclosure after they were abandoned by their out-of-state owner. In the last two years, the Land Bank has worked with its partners at the City of Toledo, the Toledo-Lucas County Port Authority, the Board of Lucas County Commissioners, and ConnecToledo, the Downtown Toledo Development Corporation, to position the properties for redevelopment.

In October 2021, the Land Bank invested $585,000 to repair the Spitzer Building's roof and skylights to prevent additional water damage. This year, the Ohio Department of Development awarded the buildings a total of $1.39 million through the Brownfield Remediation Program for asbestos, lead paint, and hazardous materials abatement.

In May, Sandvick Architects completed a feasibility study of the properties. The feasibility study demonstrates that each building has the potential to be converted into hundreds of residential apartments while also supporting the return of retail and commercial uses to their first-floor arcades. Over $100 million of investment is expected to restore the buildings and adapt them to these new uses.

“There is unprecedented demand to shop, play, and live in downtown Toledo,” said David Mann, President and CEO of the Land Bank. “We believe that the redevelopment of these historic buildings can meet that demand and catalyze additional economic investment in the central business district.”

The Request for Proposals, or RFP, will be released in two phases. The first phase, published today on the Land Bank’s website, will identify and shortlist up to five developers with the experience and ability to complete redevelopment projects of this scale. The second phase is expected to be released in September.

The Spitzer Building, an 11-story building, was long home to Toledo’s legal community but was closed in 2014 due to safety concerns. The Nicholas Building, a 17-story building, was closed in 2010 after its major tenant relocated to another building in downtown Toledo.

The Four Corners Project is so named because the intersection of Madison Avenue and Huron Street, where the Spitzer and Nicholas Buildings are located, is the last corner in downtown Toledo where all four original buildings remain standing.

Interested developers can learn more at: https://lucascountylandbank.org

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