Project Summary

Another aspect of the Envision Columbus study was recommendations for further growth in the downtown area that includes multi-family housing as well as an urban grocer. Real estate developers, Flaherty & Collins Properties was chosen to lead this project. In February, 2020 a term sheet was executed as an agreement between all parties in regard to the scope of the project. In January, 2021 the Redevelopment Commission signed an agreement with Flaherty & Collins to begin Phase 1 of the project. The area at 2nd and Lafayette has been rezoned to include all aspects of the project. The developers are currently in negotiations with a grocer who has expressed interest in establishing in the downtown area.

The multi-family development will include:

200 townhouse type units that will include studio and 1-2 bedroom apartments.
Urban grocer on the ground floor that will be accessible to residents as well as the general public.
Additional retail space for future business expansion.
Additional parking to support residents as well as visitors.

Timeline:

2018: Envision Columbus: Downtown Strategic Development plan studies the needs and potential for future growth in Columbus. The study recommendations included a hotel/conference center, urban grocer and multi-family housing as vital to the growth of the area and a building block for further public and private development.
March 2019: CRC issues an RFQ for hotel/conference center developers and multi-family/urban grocer developers.
July 2019: CRC invites four pre-qualified finalist teams to respond to an RFP for a hotel/conference center and multi-family/urban grocer development.
Late 2019: The Columbus Redevelopment Commission chose real estate developers, Flaherty & Collins Properties to take the lead in the development of an urban grocer and multi-family housing in downtown Columbus.
February 2020: A term sheet was executed as an agreement between all parties in regard to the scope of the project.
March 2020: The COVID-19 pandemic hits and hospitality industry is crippled.
July 2020: Mixed-use/Urban Grocer project still able to move forward and a term sheet agreement is reached with Flaherty & Collins.
January 2021: The Redevelopment Commission signed an agreement with Flaherty & Collins to begin Phase 1 of the project. The area at 2nd and Lafayette has been rezoned to include all aspects of the project. The developers are currently in negotiations with a grocer who has expressed interest in establishing in the downtown area.
February 2021: The Columbus Redevelopment Commission (CRC) and Flaherty & Collins execute a project agreement.
April 2021: The CRC engages the services of August Mack to provide environmental services regarding the installation of temporary monitoring wells.
June 2021: Submitted Flaherty & Collins design renderings were reviewed by the Columbus Design Team.
July 2021: The 2nd & Lafayette TIF District was created. The property is offered to Flaherty & Collins following the published notice of sale of property. The Design Team approves concept plans and renderings.
August 2021: Flaherty & Collins (F&C) files their Conditional Use application with Zoning.
September 2021: Redevelopment applies for POSI funds for use in the Bob’s Car Wash site clean up.
October 2021: Plan Commission approves the F&C mixed-use site plans. Discussions progress regarding overhead to underground electrical line relocation on the future mixed-use site. Bob’s Car Wash site remediation is completed.
November 2021: Efforts continue on the mixed-use replat survey. And property closing is still on track for mid-December 2021.
December 2021: Term Sheet and Due Diligence Questionnaire are finalized. Additionally, bond bids are received and an interest rate is locked in for the bond closing, which has been postponed to January 2022.
January 2022: Flaherty & Collins closes and takes ownership on the property. August Mack has been engaged to do a soil management plan on the future mixed-use site.
February 2022: A No Further Action (NFA) letter is issued on the former Bob’s Car Wash site and property Environmental Restrictive Covenants (ERCs) are recorded for adjoining properties throughout the month of February. Flaherty & Collins is working to complete an administrative subdivision to vacate property lines and create utility easements.
March 2022: The Soil Management Plan for the former Bob’s Car Wash site has been approved.
April 2022: The multi-family development has been named “The Taylor”. Groundbreaking takes place at The Taylor on April 21st – members of the community, along with local business owners, City Officials, project partners, etc. are invited to attend.
May 2022 – August 2022: There has been considerable “dirt-moving” on site to prepare the site for the new development. Additionally, work in relation to the Soil Management Plan commenced in May.
September – December 2022: There has been considerable framing and utility work on site. Toward the end of this timeframe, the Urban Grocer framework is nearly completed, and 4 stories of the mixed-use development is partially framed. Additionally, the small parking lot garage is framed during this time.