(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.