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.
Certain news links may require site registration or subscription to access the complete article.
1
“An Upper Arlington project that is soon expected to begin vertical construction is seeking a tax credit from the state of Ohio. Arcadia Development has applied for a $2.5 million Ohio Transformational Mixed-Use Development tax credit for the Golden Bear Shopping Center redevelopment at 3700 Riverside Dr., according to information sent to American City Business Journals. Applications closed in October and the awards are expected to be announced in early 2025. The former strip center is plotted for a 273,000-square-foot mixed-use building with residential, retail/restaurant and office space. The total project cost is estimated at $69.2 million in state documents.”
2
“As Hilliard's TruePointe development continues to progress, the company behind the mixed-use project hopes to garner millions of dollars in state tax credits. TruePointe developer Equity recently applied for $12 million in funding from the Ohio Transformational Mixed-Use Development Program. The incentive would help offset costs for the massive development, which represents a $282.5 million investment, according to state documents. Located at 4457 Trueman Blvd. on Hilliard's east side, the 27-acre site will have multifamily residential, office, hospitality and retail/restaurant spaces. It also will establish new public gathering spaces, green space, trails and sidewalks."
3
“The Central Ohio developers seeking state tax credits for their transformational projects all said the funding is "critical" to moving forward developments that will reshape the surrounding areas and bring further investment. Bill Brennan, chief investment officer at Pizzuti Cos., said the Transformational Mixed-Use Development tax credit is key for the Astor Park project to move forward. And that the project is transforming a once-forgotten part of downtown Columbus. "The site was an environmental cleanup site until the investment around Lower.com Field," Brennan said. "This new investment would transform the area into a true neighborhood." The Columbus Crew's soccer stadium gives the development a gathering place to center around.”
Comments