ReTown President and Managing Director Jim Louthen is proud and excited to announce a collaboration with The Broadway Building Partners and Arkinetics to redevelop the Broadway Building, formerly the Spitzer Hotel. “The redevelopment of the Broadway Building is an adaptive reuse of the historical building into new market rate up-scale luxury rental housing targeting active adult seniors and young professionals,” Mr. Louthen says.
“Our redevelopment plans at the Broadway Building include creating 55 studio, one-bedroom, and two-bedroom apartments. The historic renovation will utilize energy efficient materials and fixtures and retain original historic finishes and artifacts,” Mr. Louthen adds.
The rehabilitation work will include improvements to meet current building code and restore the exterior masonry, and a refurbished attached parking garage. The existing building is on the National Register of Historic Places and will benefit from Federal and State Historic Tax Credits generated from eligible costs of the estimated $10M total.
A Lorain postcard, circa 1917.
Broadway at the loop, circa 1905. (Dennis Lamont)
The residential units will be located on all floors and the building will also provide renovated commercial spaces for lease with frontage along Broadway and Erie Avenue. The Broadway Building amenity spaces will be located on the ground and lower level. The amenities will include covered parking, fitness center, pool and hot tub, cedar sauna, locker rooms, rooftop garden with panoramic views, business center, arts and crafts studio, resident meeting/lounge spaces, storage lockers, and a sunken garden with sculptural water fountain and seating. The renovated apartment finishes will include hardwood floors, stainless steel appliances, granite counter tops, vintage energy-efficient windows, 9’ high ceilings, in-unit climate control, and in-unit washer and dryer. The Broadway Building is in the heart of Lorain’s historic downtown and adjacent to the waterfront. Each apartment will offer spectacular views to the historic downtown, Erie Avenue bascule bridge, and waterfront views to Lake Erie and the Black River.
Each resident will enjoy watching boats and ships pass by the Erie Avenue Bridge, considered the worlds second largest bascule bridge. A professional property management company with an on-site manager will oversee the day-to-day operations and maintenance. Special resident programs are pre-arranged, featuring leasable boat slips through the Harborwalk Marina, life-long learning classes through the downtown campus of Lorain County Community College, dining at the Broadway Building Bistro, and a membership package to the Palace Theater.
Another feature of the Broadway Building is its proximity to the Black River Landing Park and Festival Grounds, a $7 million multi-modal center and riverfront park located on a 13-acre parcel along the Black River in Lorain, Ohio. Mr. Louthen supervised this multipurpose project that included planning for a commuter rail station, docking facilities for excursion boats, civic festival grounds, and a downtown riverfront park. The Black River Station involved the design of bulkheads, roadways, pavements, cut/fill analyses, grading, utilities, and site lighting, as well as mechanical, electrical, and structural design for both the train station and festival areas. The Park features trails, gardens, amphitheater, weekly concerts, a water taxi to fishing islands, a community building, and the permanent home to Lorain’s acclaimed annual International Festival & Bazaar. Black River Landing and the Broadway Building are directly accessible to public transportation, shopping, and the region.
Finally, the residents of the Broadway Building can look forward to future improvements of the downtown and waterfront championed by ReTown, the City of Lorain and the Lorain Port Authority.