Marina District Bond Financing to Be Approved

posted by News Radio 1370 WSPD & 92.9-FM - 

(Toledo, OH) The Toledo-Lucas County port authority is about to official underwrite construction in the Marina District. 

The port authority board is being asked to officially approve $45 millions worth of bonds to fund building all the housing planned in the Marina District. 

A Columbus developer plans to built one- and two-bedroom townhouse-style residential unts, along with a clubhouse, restaurant, and retail space, forming what will be known as the Marina Lofts. The Marina District development also would include a pool and public park. 

Those construction bonds are expected to be privately purchased by a financial institution. The developer would pay back the bonds through lease payments from renters. If the financing is approved, ground is expected to broken sometime in September.

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