City of Toledo, Coastal Ridge and Community Partners Celebrate Grand Opening of Colony Lofts

The City of Toledo, Coastal Ridge and community partners celebrated the grand opening of Colony Lofts on Friday, May 9, with a ribbon-cutting ceremony. The $50 million mixed-use development adds 262 new luxury apartments to a key corridor near ProMedica Toledo Hospital and the University of Toledo, bringing modern housing options and new businesses to the area.

Developed by Continental Real Estate Companies and Hallmark Communities, with property management by Coastal Ridge, Colony Lofts sets a new standard for sophisticated urban living to the Greater Toledo area. The project features one- and two-bedroom apartments with stainless steel appliances, granite countertops, in-unit washers and dryers, walk-in closets, and private balconies in select units.

Residents enjoy access to a resort-style pool, fitness center, clubhouse, business center, EV charging stations, and on-site retail — including the second Northwest Ohio location of The Old Bag of Nails Pub.

This project was made possible because of a public-private partnership that involved ProMedica, Lucas County, Toledo-Lucas County Port Authority and the City of Toledo.

“Colony Lofts is a model for how we can reimagine underutilized sites and make them work for Toledo's future,” Mayor Wade Kapszukiewicz said. “This project not only adds high-quality housing near major employers, but it also solves long-standing infrastructure challenges that will benefit residents citywide.”

Joe McDiffitt, managing director at Coastal Ridge, said, "With its prime location and best-in-class amenities, Colony Lofts offers modern living spaces that reflect the evolving needs of Toledo’s growing workforce and residents. We’re excited to contribute to the continued growth of the city."

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