Reimagining Downtown Toledo
Launching the Development
The Land Bank and its partners desire the Spitzer and Nicholas buildings at downtown's Four Corners to be a signature urban real estate redevelopment that returns population density to this key junction, enhances street-level vibrancy, and catalyzes additional inclusive economic development in the surrounding area.
As plans for this complex project develop, more will be shared here and with the public!
A Storied History
For 115 years, the corner of Madison and Huron in downtown Toledo has been the home of the Spitzer and Nicholas buildings. With the Nasby building and the downtown headquarters of Huntington Bank to the south, this remains the only corner where all four original buildings still stand.
These two buildings, which comprise over 500,000 square feet of total space, were among the first prominent skyscrapers to be built in this country. For decades, they were an epicenter of the local business community, especially the hundreds of local attorneys and law offices that once made the Spitzer building their home.
However, during a period of changes for downtown Toledo that were made worse by the Great Recession, the Spitzer and Nicholas buildings were sold to an out-of-state owner who promised grand things for these classic structures. Sadly, after more than a decade of false starts, unpaid debts, and prosecution for nuisance conditions, no plans had materialized.
So, the Land Bank, working closely with its city and county partners, took steps to acquire these abandoned buildings through receivership and tax foreclosure. Using the tools available to address such property challenges, the Land Bank took ownership in August 2020.
Control of these important buildings presents a historic opportunity to redevelop them for the betterment of downtown Toledo and the entire surrounding community. The 22nd Century Committee's Downtown Toledo Master Plan called for a strategy to rehabilitate these buildings to "catalyze" other important developments in the neighborhood. This is exactly what the Land Bank and partners are now doing.
A Feasibility Study completed by Sandvick Architects and partners in 2022 offers a dynamic vision for the Spitzer and Nicholas Buildings, with each incorporating a mixture of residential and commercial uses that will continue to breathe new life and energy into downtown Toledo. Restoring these historic buildings to their original layouts and former glory is a top priority as the Land Bank and partners begin the work to identify qualified developers.
Brownfield Remediation Program and other Ohio investments, coupled with funding from the City of Toledo through the federal American Rescue Plan Act, have cleaned up major environmental problems with the buildings, completed interior demolition of the former office spaces, and made important stabilizing improvements to the roofs, to the exterior masonry, and the historic windows. Almost $15 million will be invested between 2022 and 2026.
The goal of the Four Corners Project is to create approximately 400 new residential units and an activated first-floor commercial corridor by revitalizing over 500,000 square feet of historic office space. The total project is estimated to cost $190 million.
The Project
From owners to development professionals, the Four Corners Project partners are working together to make key decisions regarding the future of these important buildings. The partners include the Land Bank, the City of Toledo, the Board of Lucas County Commissioners, ConnecToledo: the downtown Toledo development corporation, and the Toledo-Lucas County Port Authority.
The Proposed Developer
In September 2025, the Land Bank Board of Directors authorized President David Mann to negotiate a pre-development agreement with The RKP Group for the Spitzer and Nicholas buildings.
The RKP Group, a Toledo and Michigan-based redevelopment firm, is known for its successful projects in downtown Toledo, including the revitalization of Standart Lofts, The Berdan, Fort Industry Square, and The Overmyer. Over the past 15 years, RKP Group has completed over 350 new residential units and thousands of square feet of revitalized commercial space in downtown Toledo.
For the next 12 months, The RKP Group will have the exclusive right to redevelop the buildings if key conditions are met. Among those conditions is a budget pro forma showing all committed sources, a commercial tenants’ plan, and a project labor agreement. When a final redevelopment agreement is reached, it will be brought before the Land Bank’s Board for review and approval.
The RKP Group is also the owner and developer of the Nasby building at this crucial intersection. To ensure that the market can successfully absorb this significant new supply, the redevelopment of these three buildings is expected to be staged, with the Spitzer Building to start first.