TOLEDO, OH (WTOL) - The shell of the Continental Baking Building has sat vacant since the 1990s. But a plan to remake the old building will turn it into new apartments and commercial center.
It will take nearly $5.7 million dollars to complete redo it into two commercial spaces and 24 market rate loft apartments that will have roof access, some with views of the Maumee River.
Kevin Mikolajczyk and his wife Ambrea purchased the building from the Lucas County Landbank this summer. They had to move quickly to make the application deadline for the historic tax credit through the state.
"Application submission was due by the end of August," said Ambrea Mikolajczyk. "So we had to move really quickly on that. The landbank knew that. We had to move quickly because we had to get those historic tax credits especially this round."
The Mikolajczyks worked closely with the landbank to make it all happen.
"Which is to take that building recognize its character, recognize its past but turn it into residential and commercial space," said David Mann, Lucas County Landbank.
"They'll have stairs, they'll have roof top views," said Ambrea Mikolajczyk. "It's just prime local to do additional apartments which is something that we need."
Mann said this is one of the biggest sales they've had. Putting it in the hands of a local couple gives them confidence it'll keep the communities best interest in mind.
"The one that gave us the most excitement for the neighborhood that gave us the most hope that something new and different could happen there was there the plan from Arch Restoration and construction," said Mann.
The plan also includes putting up ample lighting around the building for security.
The Mikolajczyka said the apartments will go for roughly 80 cents to $1 per square foot, that would make a one bedroom roughly $810.