THE WEEKLY REVIEW | April 11, 2025
- Colliers | Columbus
- 8 minutes ago
- 2 min read
Keeping up with CRE trends is as easy as 1-2-3 with our weekly piece! The Weekly Review is a new blog series that will be released every Friday. The market is constantly growing and adapting to new ventures and ideas, and our goal is to provide up-to-date information into what is happening in both the Columbus and U.S. markets, as well as the commercial real estate industry as a whole. As stories evolve, the Weekly Review will continue to follow along and update our clients and community.
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Development - Ohio House's Budget Restores $100M Tax Credits for Transformational Mixed-Use Projects
"The Ohio House of Representatives passed a state operating budget on Wednesday that continues in perpetuity the state's $100 million in annual Transformational Mixed-Use Development tax credits. The $61 billion two-year budget heads next to the Senate. A balanced budget must be in place by June 30. The program had been set to expire after the awards made in late January. Four Central Ohio projects accounted for half – a combined $50.7 million – of that fourth and final round. The local total included $33 million, the largest single award, for Columbus-based Edwards Cos.' five-building "Capitol Square Renaissance Project" just east of Capitol Square."
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“A mixed-use development along Trabue Road is moving forward after receiving a zoning variance from Columbus City Council. Located at 3775 Trabue Road across from the Raymond Memorial Golf Course, Upland Development Co.'s proposal includes a 280-unit apartment complex plus a restaurant space. In documents filed with the city, the 18.3-acre Fairweather development is made up of nine parcels. Four are currently developed with single-unit dwellings and another four are undeveloped. The final parcel is the site of Fairweathers Cafe.”
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“Microsoft is putting its $1 billion plan to build data centers in Licking County on hold, the company confirmed in a statement. “After careful consideration, we will not be moving forward at this time with our plans to build data centers at the Licking County sites," a company spokesperson said in a written statement. The sites are in New Albany, Heath and Hebron, where Microsoft Corp. planned to invest $700 million in facilities and $300 million in machinery, according to past Columbus Business First reporting.”
