Tower on the Maumee development by end of 2012? - 13abc.com Toledo (OH) News, Weather and Sports

Tower on the Maumee development by end of 2012?

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With all the projects moving forward along Toledo's waterfront, it now appears the Tower on the Maumee is ready for construction, as well.   The developer of the $30 million project says he's close to making renovations.

Nick Eyde took 13abc through his building, Wednesday, and he says construction inside the old Fiberglas Tower could begin by the end of the year.

From the buildings top floor, you can see Lake Erie and all of Toledo. And now, Nick Eyde says the Tower on the Maumee is primed for development.  The asbestos has been taken out and the building has been gutted.

By the end of 2012, this project, several years in the making, could be part of the downtown revitalization.   Eyde told 13abc reporter Bill Hormann, "This could be like a European downtown, where people can walk around, go to the Valentine Theatre, go to the arena, have a bite to eat, go to a cafe, things like that."

The tower sits in the middle of all the action. The Marina District sits across the river and the Steamplant is across the street.   Fifth Third Field, home of the world famous Toledo Mud Hens and the Huntington Center are literally around the corner.

In the next 45-days, Eyde will learn if this project to bring 100-hotel rooms and six floors of apartments will get a state historic tax credit.   Eyde is confident this Toledo project has a good chance at funding.  "I think they want to see those state historic tax dollars spread out, not just to this part of Ohio or that part of Ohio, but all over Ohio," he says.

If Eyde gets that $5-million credit and another $6-million grant that's up in the fall,  construction on this project could begin by Christmas.

That's about the time the Marina District and Steamplant should begin work making the old Fiberglas Tower part of the new Toledo waterfront.

Eyde says, "there's a lot of energy here. This is a critical development for tying everything together."

A restaurant and clothing stores are possible for the building and its signature black glass will be a vital component of the project.

If the development is a go at the end of the year, it would be complete mid- 2014, about the time the Marina District and Steamplant projects are winding up.

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