Toledo skyscraper renovation plan gets $2 million HUD grant

September 14, 2011 |

A $2 million grant from the U.S. Department of Housing and Urban Development is giving a big boost to a planned renovation of downtown Toledo’s tallest building. The Fiberglas Tower, former home to Owens Corning, has been vacant since 1996.
(http://www.toledoblade.com/local/2011/09/09/Fiberglas-Tower-gets-2M-shot-in-arm.html)

The grant is expected to help the project to gain approval for a $10 million federal loan, which is expected to attract private investors to meet the estimated $29.4 million needed for the renovation. The planned rehab for the 30-floor, 400-foot-tall building includes 140,371 sf of office space, a 96-room Marriott Courtyard hotel, and a lobby area with retail and restaurants. A second phase would add 81 apartments. The developer, Eyde Co., aims to begin the renovations in October 2012. The project is expected to create 368 permanent jobs. 

A $2 million grant from the U.S. Department of Housing and Urban Development is giving a big boost to a planned renovation of downtown Toledo’s tallest building. The Fiberglas Tower, former home to Owens Corning, has been vacant since 1996.
(http://www.toledoblade.com/local/2011/09/09/Fiberglas-Tower-gets-2M-shot-in-arm.html)

The grant is expected to help the project to gain approval for a $10 million federal loan, which is expected to attract private investors to meet the estimated $29.4 million needed for the renovation. The planned rehab for the 30-floor, 400-foot-tall building includes 140,371 sf of office space, a 96-room Marriott Courtyard hotel, and a lobby area with retail and restaurants. A second phase would add 81 apartments. The developer, Eyde Co., aims to begin the renovations in October 2012. The project is expected to create 368 permanent jobs. 

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