Maritime Academy buys its building for $2.5M

7/2/2011

The Maritime Academy of Toledo Friday purchased its building, the former American Maritime Officers Building at 803 Water St., for $2.5 million, after leasing it since September, 2009.

The 60,000-square-foot, six-story building was opened in 2003 at a cost of $10 million. Genoa Bank agreed to serve as the academy’s lender, Superintendent Renee Marazon said. The academy ended the school year with about 200 students and is expected to add to its enrollment this fall, Ms. Marazon said.