THE WEEKLY REVIEW | NOVEMBER 10, 2023
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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“The COVID-19 pandemic changed a lot in regard to work and commuting. And while more people are back in downtown Columbus to work, it's still fewer than before 2020.”
“The goal of the Downtown strategic plan completed in 2022 is 120,000 workers and 40,000 residents Downtown by 2040.”
“Marc Conte, executive director of the special improvement districts, said he estimates that 12,500 people live Downtown now. And though research showed that 89,931 worked Downtown in 2019 pre-pandemic, Conte estimated that 36,000 to 63,000 now work Downtown, depending on the day.”
“Nationwide Realty Investors will start construction on the latest addition to the Arena District next week.”
“The development arm of the Columbus-based insurance and financial services giant plans a 124-unit, five-story apartment building at the northwest corner of Vine and Kilbourne streets.”
“The 220 Vine St. building will be shaped like an E and feature a pool and outdoor courtyard space. The apartment building will be brick with black fiber cement panels. There will be a mix of walk-up and traditional multifamily units.”
“Investment firm Morgan Stanley is cutting about 95 jobs from its operations at Easton, according to state records.”
“The workers will be let go on Dec. 31, the company said in the notice filed with the state.”
“Morgan Stanley said the losses at the offices at 4343 Easton Commons are expected to be permanent but the company said Tuesday that Morgan Stanley is not closing the office.”