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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1
“The Columbus Metropolitan Housing Authority's redevelopment of the former United Way headquarters in downtown Columbus may finally be moving forward. CMHA will go before the Downtown Commission on Jan. 28 for a certificate of appropriateness on its plans for the site. The affordable housing developer hopes to demolish the 1960s building on the site and build a five-story, 82-unit multifamily building in its place. The project at 360 S. 3rd St. originally was proposed in 2022 as a 12-story, mixed-use building. The project's cost also changed – from about $70 million to $29 million as it currently is proposed.”
2
“Amazon Web Services paid $102.4 million for the Fayette County land it acquired for a new data center campus, property records show. The transaction includes 243 acres between Fern Road Northwest and Route 729 and 346 acres between Bluegrass Boulevard and Route 35. The sites are just off 1-71 and are close to Destination Outlets shopping mall and Honda and LG's new $3.5 billion electric vehicle battery plant in Jefferson Township. The 243-acre property was acquired for $60.2 million and the 346-acre site was purchased for $42.2 million, according to the Fayette County Auditor."
3
“The Courtyard by Marriott hotel near the Columbus airport has changed hands. Mira Development bought the 150-room hotel at 2901 Airport Dr. on Jan. 15 for $7 million via an LLC with the same address as the firm's Chicago office. Mira's website says that the firm specializes in hotel development and has built more than 20 hotels. It has offices in Chicago; Bellevue, Washington; and Louisville, Kentucky. The firm has other Ohio hotels, including a DoubleTree in Dublin that Mira acquired and converted from a Crown Plaza hotel.”
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