Asbestos removal to take a year at former Owens Corning building
The City of Toledo, Ohio is in the process of a $44 million redevelopment plan, but the vacant former Fiberglas Tower was not intended to be part of the plan. City officials vetoed a proposal to loan the owners $10 million to renovate the skyscraper, but the subject was recently put back on the table for discussion. The Mayor and other council members want to avoid an ongoing money pit like the three apartment buildings the city does not own, but are still costing the city $1 million every year from 2000 until about 2025.
The mayor is more willing to consider the loan to the owners of the Fiberglas Tower, Eyde Co. of Lansing, after hearing details of the proposal. Eyde Co plans to turn the former Owens Corning headquarters into a complex with a hotel, a restaurant and apartments. Marriott has expressed an interest in operating the hotel. Meanwhile, renovations are already underway. Asbestos removal is the first phase of renovation, and is expected to take a year. The renovation will be funded through a number of sources, including a $3 million grant from the Clean Ohio Revitalization Fund.
For the full story, go to Toledo Blade.
