Developers receive tax credits for Toledo apartment project
TOLEDO, Ohio (AP) — Developers in northwestern Ohio who plan to convert a vacant bread factory into an apartment complex received a boost from tax credits this week.
Kevin and Ambrea Mikolajczyk, owners of ARK Restoration & Construction, were awarded nearly $1.1 million in state historic tax credits Tuesday for the renovation of the Continental Baking Building. The developers purchased the Toledo property from the Lucas County Land Bank earlier this year.
The Mikolajcyzks plan to turn the building that once served as a Wonder Bread bakery into a mixed-use space with 24 loft apartments and two commercial spaces. Renovations will cost about $5.7 million.
Mayor-elect Wade Kapszukiewicz (KAP’-suh-kav’-ich), who is chairman of the land bank’s board of directors, tells The Blade the project will attract economic development to the Historic Vistula District.