Ataraxia Properties Announced $10 Million Redevelopment
The Glass Press renovation in Marietta will create new commercial space and housing using historic tax incentives.
Updated on Oct. 13, 2026 in Openings & Closings
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Ataraxia Properties has announced a $10 million redevelopment plan to transform the historic Glass Press buildings in Marietta. The project will convert the 43,800-square-foot site into a mixed-use space featuring apartments, a food hall, offices, and a coffee shop.
Why it matters
The project represents a significant investment in urban revitalization, combining public grants with historic tax incentives to attract businesses and residents to the area. It demonstrates a model for redeveloping aging industrial structures into functional mixed-use venues.
The $10 million redevelopment covers 43,800 square feet, supported by $2.5 million in State Historic Tax Credits and a $1 million grant from JobsOhio. These figures represent the total investment and public funding committed to the restoration of the two historic structures.
The players
Ataraxia Properties
A real estate development firm focused on urban property revitalization and historic building restoration.
JobsOhio
A private, nonprofit economic development corporation that manages business attraction and job creation initiatives for the state.
The details
The renovation involves extensive structural work, including exterior masonry repairs, roofing replacement, and a full upgrade of all building systems. Developers will remove non-historic alterations while restoring original materials and reconfiguring interior layouts to accommodate modern apartment and commercial vendor requirements.
Timeline
October 13, 2026: The redevelopment project was announced.
Market Landscape
The Glass Press project utilizes State Historic Tax Credits, following a common industry trend where municipalities incentivize the adaptive reuse of industrial buildings. This approach allows developers to offset significant renovation costs while preserving architectural history.
Local business owners should track the project timeline as it will introduce new competitive retail and food options to the downtown market. Operators with property should note the efficacy of pairing historic tax credits with state-level grants to finance major building improvements.
The takeaway
Large-scale adaptive reuse projects can significantly reshape local business dynamics by introducing new high-traffic hubs. Owners should monitor the project's progress to assess how new office and food hall space might alter regional competition or consumer foot traffic.
Further reading
For more on local development trends, visit Openings & Closings.
Live Poll
Do you support converting historic buildings in your area into modern mixed-use spaces?
