The Berdan Building, a nearly 112 year old building sitting at the corner of Huron and Washington in Downtown Toledo, secured the final piece of the financing puzzle Tuesday with a unanimous vote from Toledo Council to authorize a $2 million dollar loan. The total projected cost of the redevelopment is $30 million dollars, with roughly 7 percent coming from public sources. Feasibility and market studies have long showed what residents of Downtown Toledo know, that the supply of residential market rate rentals consistently fails to meet demand. The Berdan Building represents the last major piece of the development puzzle for the burgeoning warehouse district. The Berdan Building, built in 1902 for a wholesale grocery operation, will create 115 new rental units and will serve as a pivotal development anchor for the immediately surrounding area. Read a full history of The Berdan Building hereand The Blade article here.