The Dayton Arcade has, for many years, lain empty. Located in the heart of downtown Dayton near Courthouse Square, it's something that's always interested me. Look at the pictures -- even in disrepair, it's absolutely gorgeous. I'm not often one to gush over this kind of thing (or, indeed, over a great many things) but I've been constantly impressed with the photography both on-site and off that's offered glimpses into the plaza's interior.
Quite recently -- this year, in fact -- the Dayton Daily News reported on a surprising turn of events: the complex had been purchased by two men from out of state, backed in part by German investors. The men -- Gunther Berg and Wendell Strutz -- intend to renovate the 250,000 square foot complex, which dominates a whole city block. This is slated to begin in 2010. Though they admit that this is the largest project they've worked on thus far, they state that their affiliates have worked bigger, and their expertise will be vital in the process.
For me, this is an interesting turn of events, although I'm not sure if I'm quite as optimistic as the Arcade's new owners. According to Photowoody, the plaza is comprised of office space, retail space, and appartments. Conceptually, if you build it then they'll come, but as I've heard it put, there's a reason why you don't see many restaurants (or, at least, nice ones) in that part of the city. Although the idea of the Arcade re-opening in full glory is certainly a nice one -- and one which would provide a much-needed boost to the Dayton economy -- I have to wonder if it would really fly. Dayton isn't New York and it isn't Chicago: a number of people see it as a dead town, or one on its way there. Sinclair does much to help and lend credit to the city, but...well, I could hem and haw for quite a while, but (as it usually is) the only thing that'll decide it one way or the other is time.
For now, though, take a look through those pictures and try and imagine it without the water damage and dust. If they can make it work -- IF -- I think the Arcade (and all the economic stimulus that goes hand in hand with such a place, both in the construction and in the completion) will be a boon.
Sunday, September 27, 2009
Wednesday, September 16, 2009
Rock You Like A Hurricane
In a recent article by the Dayton Daily News, it was revealed that the freak storms attributed to Hurricane Ike -- which blew through our region last year in September -- had cost Montgomery County $8.4 million. Dayton alone had collected 1.2 million dollars in aid, the largest in the area. Although windstorms fall more under the domain of meteorology than business organizations, the lasting effects of Ike offer us all something to consider.
Whenever disaster strikes, it's not uncommon to see skilled laborers pour in from miles around, some even going so far as to come from other states. A personal example of this springs to mind; last year I was involved in an auto accident with a pair of roofers from Indiana who had come in looking for work in the wake of the storm. This means a big boost for local businesses (at least, those local businesses not destroyed by inconvenient and unexpected hurricanes) and workmen of all types. Our recession has caused a great deal of damage to the economy of the region -- the GM plant closings being the largest example that springs to mind, though there are obviously others -- so albeit that the lion's share of the economic boost was well before these events took place, it's still refereshing to know that there was some sort of help to regional business.
However, the article mentions the fact that after federal reimbursement ran out, Montgomery county was still stuck with $118,337 in uncovered costs. This...this isn't quite as great to hear, said plainly. Budgets are tight (well, obviously) and without belaboring the point, every dollar counts. I'll say freely that I'm not the best at economics -- my only real areas of any formal education to speak of stand in English and law -- but even though I'm aware of the fact that it's not a net loss...well, it sure feels like one to me.
With our national economy the way it is (though if you listen to the New York Times, we're through the worst of things) many people simply can't afford to make the repairs that freak acts of nature incur. Having spent more than a few years of my life in a less-than-ideal situation as far as money was concerned, I know that we wouldn't have been able to cover the cost of re-roofing, given that food and rent was hard enough to come by. For all the good it's done for certian local businesses, I can't help but think of all the people who took a blow as a result.
Hopefully this won't be a repeat performance: I certainly wouldn't bet on it. But how this nearly $120,000 blow will affect Dayton, a town with enough problems already, remains to be seen.
Whenever disaster strikes, it's not uncommon to see skilled laborers pour in from miles around, some even going so far as to come from other states. A personal example of this springs to mind; last year I was involved in an auto accident with a pair of roofers from Indiana who had come in looking for work in the wake of the storm. This means a big boost for local businesses (at least, those local businesses not destroyed by inconvenient and unexpected hurricanes) and workmen of all types. Our recession has caused a great deal of damage to the economy of the region -- the GM plant closings being the largest example that springs to mind, though there are obviously others -- so albeit that the lion's share of the economic boost was well before these events took place, it's still refereshing to know that there was some sort of help to regional business.
However, the article mentions the fact that after federal reimbursement ran out, Montgomery county was still stuck with $118,337 in uncovered costs. This...this isn't quite as great to hear, said plainly. Budgets are tight (well, obviously) and without belaboring the point, every dollar counts. I'll say freely that I'm not the best at economics -- my only real areas of any formal education to speak of stand in English and law -- but even though I'm aware of the fact that it's not a net loss...well, it sure feels like one to me.
With our national economy the way it is (though if you listen to the New York Times, we're through the worst of things) many people simply can't afford to make the repairs that freak acts of nature incur. Having spent more than a few years of my life in a less-than-ideal situation as far as money was concerned, I know that we wouldn't have been able to cover the cost of re-roofing, given that food and rent was hard enough to come by. For all the good it's done for certian local businesses, I can't help but think of all the people who took a blow as a result.
Hopefully this won't be a repeat performance: I certainly wouldn't bet on it. But how this nearly $120,000 blow will affect Dayton, a town with enough problems already, remains to be seen.
An Introduction
This isn't much of an entry -- that ought to come within the next few hours -- but more of a hello, before we jump right into things. This blog is going to focus on Dayton and the things that impact its economy -- job creation, layoffs, budgeting, et cetera -- and examine how they apply (or, at least, try to examine how they apply) to business law.
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