#United States #Toledo #Foss & Company #GEYDE Development #Tower on the Maumee

Foss & Company Engages in Historic Redevelopment in Toledo

Foss & Company, a prominent player in tax equity syndication, is taking an important step in the redevelopment of the iconic Tower on the Maumee located in Toledo, Ohio. Announced on November 5, 2025, this new partnership marks Foss & Company’s second engagement with GEYDE Development for this ambitious project, having previously supported the initial phase back in 2016.

Phase II of this redevelopment aims to convert additional floors of the historic tower into a vibrant mixed-use space. This upcoming phase will integrate 91 upscale, market-rate apartments spread across floors 5 to 11. Prospective residents will enjoy luxurious features, including granite countertops, premium Italian porcelain flooring, Kenmore stainless steel appliances, and the convenience of in-unit washer/dryers. Furthermore, the lower floors (2 to 4 and 12 to 13) are set to be transformed into modern office environments equipped with impressive amenities.

The project plans also highlight a range of appealing features for both residents and office occupants. Proposed conveniences include a fully equipped fitness center, high-speed elevators, covered parking slots with electric vehicle charging capabilities, an exclusive concierge dry-cleaning service, and an outdoor barbecue area for social gatherings.

The successful leasing of Phase I apartments and office space — which have reached 100% occupancy — denotes a strong demand for both residential and commercial spaces in downtown Toledo. This remarkable success signals a revitalization of the area, which is eager to attract new residents and businesses.

Moreover, this redevelopment is set to bring significant financial benefits to the community. Foss & Company anticipates that the project will generate approximately $3.5 million in 2026 through Federal Historic Tax Credits and an additional $3.9 million through Ohio Historic Preservation Tax Credits. Such funding is essential for facilitating critical capital needed for the adaptive reuse of historical assets.

The significance of this project goes beyond just economic gains. Eric Brubaker, a partner and managing director at Foss & Company, expressed his pride in supporting community-focused initiatives through this redevelopment. He remarked, "Tower on the Maumee represents the kind of community-enhancing project Foss & Company is proud to support. We’re honored to work again with Nick Eyde and GEYDE Development to usher in this landmark building’s next chapter and further promote downtown Toledo’s growth."

On the other hand, Nick Eyde, managing member of GEYDE Development, shared similar enthusiasm about the project. He stated, "GEYDE Development is thrilled to be collaborating with Eric Brubaker and the Foss Company team on reinventing what was once a solely office building into unique apartments and modern office/commercial spaces.” Eyde also highlighted the architectural significance of the building, which bears the designs of the world-renowned firm Harrison Abramovitz.

Founded in 1983, Foss & Company has established a reputation as a national tax equity investor and fund sponsor. The company boasts an impressive track record of deploying over $9 billion in tax equity funding for various initiatives, including historic rehabilitation efforts and renewable energy projects. This rich history and expertise in guiding partners through the complexities of tax equity investments provide confidence in the successful completion of the Tower on the Maumee redevelopment.

As Toledo continues to evolve, projects like the Tower on the Maumee promise to support the local economy and enhance the vibrancy of the community. This redevelopment not only marks a significant undertaking for the area but also serves as a testament to the potential of adaptive reuse in preserving historical landmarks while fulfilling modern urban needs.