The Merc Lofts hosted an Art Show on May 2, 2014 to celebrate the beginning of construction for next door neighbor, Artspace. Artwork was displayed throughout the Atrium, apartments were open for viewing, and great refreshments were served. A short “20’s inspired” dance was performed by Miami Valley Ballet Theater, another Historic Developer tenant who has studios in the former Journal News Building. A great time was had by all!
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Historic Mercantile Lofts wins Heritage Ohio Award
Best Mixed Use Rehabilitation – Heritage Ohio Awards
The $7.4 million rehabilitation of the historic Davis-McCrory Building is part 1, of 3 buildings included in a High Street Mercantile Commercial Block in Hamilton. After suffering the same decline as many downtowns, the 1870’s buildings sat vacant for years. With the owner threatening demolition, the City of Hamilton took the bold step of purchasing the buildings in 2003 to ensure their preservation and reuse. After a failed attempt at redevelopment, the City engaged Steve Coon and Historic Developers to pursue the project.
With a nationwide recession and an unproven local market, bank financing was unavailable. With a strong belief in the project and a determined to demonstrate its value and viability, Historic Developers assumed substantial risk to proceed with the first phase of the project without financing. Federal and state historic tax credits were used.
Lofts starting to fill up
HAMILTON — The city’s vision of a liveable downtown with unique architecture is coming alive with the Historic Mercantile Lofts.
Five of nine units in the project’s first phase have been filled and Cindy Dingeldein, community development liaison, said a one-bedroom, two-bedroom, and live-work spaces remain available.
“It makes us feel really enthusiastic,” Dingeldein said. “There are several people interested in phase two units which will have a wider variety of units.”
A number of tours have been held at the historic lofts to spur interest, including tours by IceFest attendees and the Greater Hamilton Chamber of Commerce, and most recently the Hamilton Underground Buzz group hosted a social at the lofts.
Restoration of the buildings by Stephen Coon of Coon Restoration & Sealants received the award for Best Mixed-Use Rehabilitation from Heritage Ohio in April.