LIMA, Ohio (WLIO) — Lima City Council is expected to vote Monday on whether to designate the Riverfront One property as a local historic landmark, a move that could help support the building's redevelopment.
The more than 100-year-old building was home to the Glob Cigar Box Company during the 1920s, when Lima was one of the nation's largest cigar manufacturing centers.
The city purchased the property in 2023 and used city funds along with Brownfield grants from the Allen County Land Bank to clean up the site. In April 2026, the city sold the property to GEYDE Lima, which plans to invest $3 million to redevelop the building. Officials say the local historic designation could help the project qualify for state historic tax credits.
“So, having the local historic designation will assist the developer in getting state historic tax credits. It shows the state that the city feels this is an important property to preserve,” says Michael McBeth, Lima City Planner.
The redevelopment project is expected bring housing and commercial space to downtown Lima.
“Once complete, this project will represent anywhere from 20 to 30 residential units and one to two commercial spaces. But what it also does, it removes a piece of blighted property that is in the core of our downtown. It connects the revitalization that is happening farther north main to south main and again another pillar in moving forward our Better Together Plan,” says Mayor Sharetta Smith.
Construction of the residential units and commercial space is expected to begin next year.
Media Release from the City of Lima
LIMA, Ohio – Lima City Council is expected to consider legislation Monday evening to designate Riverfront One, located at 325 S. Main Street, as a local Historic Structure. The proposed designation would preserve one of downtown Lima's most significant historic buildings while strengthening its transformation into a vibrant mixed-use destination.
The proposal follows a unanimous recommendation from the City of Lima Historic Preservation Board, which determined the property possesses significant historical and architectural value. The Board concluded that the building played an important role in Lima's nationally recognized cigar manufacturing industry and retains the historic integrity necessary to tell that story for future generations.
Originally constructed in 1924–1925 as the Globe Cigar Box Building, the structure served one of the nation's largest cigar box manufacturers during a period when Lima was recognized as a leading cigar-producing city. Over the decades, the building was home to several employers and community organizations before being acquired by the City of Lima in September 2023 for future redevelopment.
"Riverfront One tells an important chapter of Lima's story," said Mayor Sharetta Smith. "Preserving this building while bringing it back to life demonstrates that historic preservation and economic development can work hand in hand. We have an opportunity to honor our past while creating new housing, supporting local businesses, and building a stronger downtown for future generations."
Since acquiring the property, the City has secured two rounds of environmental remediation funding through the Ohio Brownfield Remediation Program, administered by the Allen County Land Bank, to address environmental conditions and prepare the site for edevelopment.
In April 2026, the City authorized the sale of Riverfront One to GEYDE Lima, LLC, which has committed to investing at least $3 million to redevelop the property into a mixed-use destination featuring approximately 1,500 to 4,000 square feet of first-floor retail space and
20 to 30 market-rate residential apartments. The project is expected to expand housing opportunities, support new business activity, and generate additional investment in downtown Lima.
If approved by City Council, the historic designation would make the project more competitive for historic preservation grants and historic rehabilitation tax credits. These funding opportunities help offset the specialized costs associated with restoring historic buildings while preserving the architectural character that makes communities distinctive.
"Historic rehabilitation requires substantially more investment than new construction," said Michael McBeth, Lima's City Planner. "Historic designation helps position projects like Riverfront One for funding opportunities that reward preservation, making it more feasible to restore this landmark while maintaining the character that makes it special."
The Riverfront One redevelopment is a cornerstone of Mayor Smith's Better Together Plan, advancing efforts to eliminate blight, encourage private investment, expand housing opportunities, preserve Lima's historic assets, and strengthen downtown as a destination for residents, businesses, and visitors.
The project represents another milestone in the City's long-term strategy to revitalize downtown through strategic public investment, strong public-private partnerships, and the adaptive reuse of historic buildings that have shaped Lima's identity for generations.
If the proposed historic designation is approved, construction is expected to begin following completion of project financing, final design, and permitting.
