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 development firm The Edwards Companies is proposing to build a 12-story residential tower on what is now a parking lot on South 4th Street Downtown. The building would include 221 apartments and be adjacent to the company's newly opened Preston Centre, formerly called the PNC Tower.”
“Plans submitted to the city call for one level of underground parking topped by two above-ground levels of parking, three ‘live-work’ spaces and one retail space. Above those floors would be eight levels of apartments and a top floor featuring a clubhouse and pool.”
2
“Cameron Mitchell Restaurants plans to open its next Columbus restaurant this spring. The company is eyeing a spring opening for Del Mar, which is located at 4089 The Strand East in Easton Town Center. Bon Vie had been in the space, which overlooks Easton's fountain.”
“The Easton Del Mar will focus on Mediterranean costal cuisine, with a menu offering ‘flavors from a variety of southern European countries, with a rotating and seasonal made-from-scratch menu that showcases a variety of seafood accompanied by fresh produce, house-made cheeses, rich olive oil and earthy spice blends,’ according to a release.”
3
“The Short North had a multibillion-dollar economic impact on Columbus in 2022, according to a new study, impact that is likely to grow in coming years thanks to 1.1 million square feet of planned development in the neighborhood. The study, commissioned last year by the Short North Alliance and completed by Washington D.C.-based consultants JS&A and Pennsylvania-based Metris Arts Consulting, is the first such effort to understand the neighborhood's impact.
“’This is really about helping our business community as best as possible to experience success and helping our whole community to experience success,’ said Betsy Pandora, executive director of the Short North Alliance.”
“According to the study, the Short North's 2022 economic impact totaled $3.8 billion. New development not only plays into that figure but should drive further impact in the years to come. About 500 apartments, 77,500 square feet of office space, 18,000 square feet of retail space and 162 hotel rooms are in progress in the neighborhood.”
