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Writer's pictureColliers | Columbus

THE WEEKLY REVIEW | September 27, 2024


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

“A downtown Columbus tower could help bring new life to the 4th Street corridor. Bluestone Brothers Capital Tuesday showed the Downtown Commission a proposal for a 24-story tower with 290 apartments at 199 E. Rich St. The project is proposed to span the entire block bounded by East Rich, South 4th, East Cherry and South Young streets. The commission reviewed the project on a conceptual basis, meaning no action was taken. The developer plans to go back to the commission with more detailed plans and request a certificate of appropriateness. Bluestone Brothers also came before the commission in July with this project. The developer first went before the body in April 2023 with a 19-story project. In response to commission comments from the July meeting, the developer increased the tower from 23 to 24 stories and is no longer proposing a five-story commercial building to front 4th Street. Instead of that commercial building, the existing brick buildings will remain. The only building on 4th Street planned to be demolished is 232 S. 4th St., which in the current plan would become an extension of whatever tenant is next door. Renderings showed uses ranging from a restaurant patio to an outdoor market.”


2

“Demolition of the Spaghetti Warehouse building at 397 W. Broad St. has been stalled. The Downtown Commission Tuesday reviewed a proposal to tear down the building, temporarily replace it with a parking lot and then eventually redevelop it. The plan also included demolishing a brick wall that runs along State Street between the railroad tracks. The Robert Weiler Co. is working with Falco Smith & Kelley Ltd. and the owners of Spaghetti Warehouse to redevelop the site into a mixed-use project with affordable housing. The application for demolition was tabled at the Tuesday meeting. Commissioners asked the developer to come back in October with a conceptual rendering of what could be developed on the site, to study if any part of the building could be saved and submit documentation from an engineering study done by the previous owner showing the building is unsafe."


3

“The Champion Cos. will start construction on its latest apartment project. The development, dubbed the Retreat at Crosswoods, repurposes the former site of a vacant office building into 395 apartments. Retreat at Crosswoods is located at 400 E. Campus View Blvd. near Worthington. Champion Cos. will host a groundbreaking ceremony Tuesday. That 12-acre site formerly housed the offices of Opportunities for Ohioans with Disabilities; the building was torn down this year. The Retreat at Crosswoods will open in the spring of 2026.“We think we’re adding a lot of value to the area by replacing a vacant 40-year-old office building with a Class A apartment community that will fill a huge housing demand in that submarket,” Champion CEO Brian Yeager said in a press release.”





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