The Marx Building historic renovation project was an adaptive reuse of a three-story commercial building built in 1898. From about the mid-1920's to 1972, the west side of the building and the upper floors of the east side were wholly occupied by the Marx Clothing Store.  The east side ground floor was occupied primarily by Hulbert Photography and Gabrel's Waffle House during the period of historical significance.  Marx Clothing also performed an extensive Art Deco remodeling of the west building around 1949, most of which has survived to the present and is incorporated in the renovated building.

After Marx Clothing left the building in 1972, there were numerous short-term tenants on the ground floor, while the upper floors became vacant.  By 1994, the entire building was vacant and had suffered extensive water damage from roof leaks.  A two-story addition on the rear of the east building collapsed from water infiltration and damage to the exposed rear wall continued due to lack of weatherproofing until it, too, became unstable.

To accomplish the renovation plan, the two sides of the building had to be purchased from different owners and reunited into a single structure again.  The west building, 311 Park Central East, was purchased in July 1995 and the east building, 313-315 Park Central East, was purchased in January 1996.  The building was weatherproofed and the entire facade was restored in 1998, but the full renovation project did not begin until April 2003, once the building had been placed on the National Register of Historic Places.  The project was completed in December 2006, resulting in a commercial public space and a large office on the ground floor, two offices and one loft apartment on the second floor, and three loft apartments on the third floor.