PNC to anchor Water Street project in Dayton

After a short delay, the Water Street project downtown is back on track, with developers announcing Thursday that PNC Bank will be the anchor tenant of the office building and that groundbreaking is expected within 30 days.

PNC will occupy the upper two floors of the 50,000-square-foot, four-story structure. Construction is expected to be complete by the end of 2014, with occupancy in early 2015.

"Dayton is a growth market for PNC and we are moving our downtown headquarters to enable us to continue to serve clients in a premier office environment," said David Melin, regional president for PNC Bank, Dayton. "We believe it is essential to keep PNC in our urban core, and the Water Street development is a reflection of our long-term commitment to the Miami Valley."

The project, on the east side of Patterson Boulevard at the confluence of the Great Miami and Mad rivers, is slated to begin with the office building.

Construction on a three-story parking garage and 150 luxury apartments to the east of the office building are planned for spring 2014.

The developers, Columbus-based Crawford Hoying and Dayton-based Woodard Real Estate Resources, had originally targeted groundbreaking by Dec. 31.

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PNC to anchor Water Street project in Dayton