Yesterday, Toledo’s City Council voted unanimously to release its mortgage on the Museum Place Residences, thereby allowing the property to be conveyed free of any encumbrances to the Land Bank. The Toledo Museum of Art has been working and will continue to work with the Land Bank to ensure smooth transfer of the apartment complex to the Museum, probably in January 2017. The Museum’s communications office is working to set up the first of several community meetings to explain TMA’s involvement with the properties, to define the process for future development of the buildings, and to solicit feedback to determine the best use of this asset for our community.
The Museum is committed to protecting the current tenants and preserving the historical value of the buildings, and has held five town hall meetings at the Museum Place apartments. The residents who attended have expressed excitement about the Museum’s involvement. Likewise, the Museum has received support for its efforts from the Old West End Association and from the Women of the Old West End. We remain committed to engaging key stakeholders.
The Museum is an anchor institution with a vested strategic interest in the disposition of these properties. It is with the unanimous support of our Board that we have taken the opportunity to help shape the direction of the Museum Place Residences in ways that align with the goals for the Old West End, the downtown development plan (including plans for Monroe and Jefferson Streets), the city’s 2020 plan, and the Museum’s own campus plan, among others. This outcome is good for Toledo, and what is good for Toledo is good for TMA.