Washington D.C. – August 17, 2026: The National Trust Community Investment Corporation (NTCIC) is pleased to announce the successful financial closing of the Mainline project in Dayton, Ohio. Once home to prominent office and institutional uses, the Centre City Building and Air City Garage will be transformed into a vibrant mixed-use destination featuring housing, retail, and structured parking. NTCIC provided an equity investment in the $27.6 Million State and Federal Historic Tax Credits generated by the preservation efforts, the $14 Million Transformational Mixed-Use Development (TMUD) tax credits, and a $4 million New Markets Tax Credit investment supporting the project’s mixed-use components.
A Legacy at the Center of Dayton
The United Brethren Publishing House, now known as the Centre City Building, traces its roots to 1853 and grew into a defining presence in Dayton’s downtown through multiple phases of construction between 1903 and 1924. Envisioned as both a commercial and mission-driven asset, the building supported publishing operations and revenue generation for the denomination while anchoring the city’s skyline.
The adjacent Air City Garage, completed in 1960, served as a key downtown parking facility before falling into disrepair in later years, mirroring broader economic struggles in the surrounding area.
“This project reflects the catalytic impact our investments can have in communities across the country. We are proud to continue our partnership with The Model Group on another high-impact development that supports economic growth and neighborhood revitalization.”
- Tony Maruca
- Senior Project Manager, NTCIC
A New Chapter for Downtown Dayton Living
The Mainline redevelopment will introduce 137 new residential units, including 17 income-restricted and affordable units, across the Centre City Building, creating new mixed-income housing opportunities in the downtown core. Former office floors will be reactivated with modern living spaces that retain historic features, while ground-floor retail will bring new energy to Main Street.
The project will also introduce a curated mix of commercial tenants, including a café and fresh food market, expected to serve more than 20,000 customers annually, expanding access to everyday goods and services in a neighborhood that has historically lacked these options. It will also become the expanded home of an entrepreneurial center capable of supporting start-ups and small business leaders each year.
“This project represents the power of collaboration to drive meaningful change. Working alongside NTCIC, we have been able to advance developments that not only restore historic buildings but also create lasting opportunities for residents and businesses across Ohio.”
- Zach Woolard
- VP of Development at the Model Group
Layered Financing Supporting Transformational Impact
NTCIC provided an equity investment in the $16 million in federal historic tax credits and $11.6 million in state historic tax credits generated by the preservation efforts, along with an additional $4 million New Markets Tax Credit investment supporting the project’s mixed-use components.
NTCIC served in multiple roles across the capital stack, including as a Federal and State New Markets Tax Credit allocatee and asset manager, as well as underwriter and closer for Federal and State Historic Tax Credit and TMUD investments, and Federal HTC fund manager.
The project utilized a layered financing structure that also included Ohio New Markets Tax Credits and Ohio Opportunity Zone incentives, reflecting the scale and complexity of the redevelopment. The use of TMUD credits in conjunction with the nearby Dayton Arcade underscores a coordinated approach to investment and demonstrates clear public commitment to the long-term success and revitalization of this key downtown commercial corridor.