The long-vacant Fiberglas Building downtown Toledo will soon be occupied for the first time in 20 years.
The Eyde Co., of Lansing, today announced plans for apartments on the top 11 floors of the 400-foot-tall structure on North St. Clair Street. The company purchased the building in 1998.
Tower on the Maumee will feature 106 one-bedroom and two-bedroom modern apartments. Units will range from 719-square feet to 1,265.
The basement and ground floor of the building will also be re-done in Phase I of the renovation. Eyde picked up the building permit this morning from the city, and construction will begin early next week.
“It’s been a long time coming, and I’m sure people have had these questions,” Eyde Chief Financial Officer Mark Clouse said. ”It’s been 18 years of holding the building and preparing for today. We’re all extremely excited to have a new investment and new project here in Toledo.”
Phase I of the renovation will cost about $30 million. Eyde secured nearly $10 million in historic tax credits from the state.
Quinn Evans Architects designed the apartments, and The Douglas Company is the general contractor. The first phase of the project will create about 120 construction jobs.