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
“Development is flourishing in Central Ohio’s suburbs. As the region’s population continues to grow, many of the cities surrounding Columbus are embracing density and promoting mixed-use projects that combine retail and dining with office, residential and recreation. The result is a bevy of new developments reshaping the area’s suburban communities. "It’s an exciting time,” said One Columbus CEO Kenny McDonald. “There’s a lot of change going on in our market, and much of it is happening in the suburbs.”
2
“Several Central Ohio developers have thrown their hats in the ring for Ohio's Transformational Mixed-Use Tax Credit. The state started offering the TMUD tax credit in 2022. Eligible projects must include at least two uses, or at least three uses if one of the uses is a parking structure. The tax credit is capped at 10% of the total project cost. Applications closed in October and the awards are expected to be announced in early 2025. Developers submitted 29 projects in total from around the state. The eight projects vying for the tax credit in Central Ohio."
3
“After more than 50 years away, a long-time Columbus firm is back downtown. Thomas Fenner Woods Agency, an independent insurance company founded nearly a century ago, recently relocated its office from 1500 Lake Shore Dr. in the Marble Cliff area to a 5,500-square-foot space in the Preston Centre building, located at 155 E. Broad St. in the heart of downtown Columbus. Prior to that, it was located on Hayden Road near Hilliard. The move marks a return to the city core, where the firm had an office on East State Street from its inception in the 1930s until the early 1970s.”
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