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New 12-Story Luxury Condo Building Announced in Arena District

Walker Evans Walker Evans New 12-Story Luxury Condo Building Announced in Arena District
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Nationwide Realty Investors officially unveiled their latest Arena District residential development today. A 12-story luxury condominium building known as Parks Edge will be constructed at the northeast corner of Spring Street and Neil Avenue in between North Bank Condos and McPherson Commons.

“We are pleased to be announcing the details and sharing our vision for Parks Edge today,” said NRI President and COO Brian Ellis. “Parks Edge will exceed the highest standards for Downtown condominiums, with spacious floor plans, outstanding amenities and some of the best skyline views in the city.”

The new building will include 69 for-sale residential units ranging in size from 1,500 to 3,200 square feet. Those include one and two bedroom flats as well as two and three bedroom townhomes, though early buyers will have options to customize floorplans and even combine units if something larger is desired.

Parks Edge will feature amenities that include a fitness center, a conference room, 24-hour concierge service, a guest suite, and social room that includes a terrace, fireplace, bar, and catering kitchen. Residents will also have access to a four-story attached parking garage structure that will be topped with a pool, hot tub, sun deck and outdoor kitchen.

The news that the 69 residential units will be for sale rather than for rent may be the most interesting part of today’s announcement. While several hundreds new apartments have been constructed Downtown in recent years, there have been no large-scale for-sale projects completed Downtown since NRI’s neighboring 20-story 100-unit North Bank Condos building was finished in 2007. The investment in a new for-sale project, combined with North Bank’s recent sale of its final unit, could be viewed as an indicator that the Downtown home buying market may be strengthening once again post-recession.

“The inventory of new for-sale units is getting low and not keeping up with demand in my opinion,” said Marc Conte, Deputy Director at the Capital Crossroads Special Improvement District. “Ideally, we will start to see new for-sale units for the entire price spectrum. That could happen by converting apartments to condos but, given the 95 percent apartment occupancy rate, apartment buildings are likely cash-flowing very well.”

Prices for homes at Parks Edge have not yet been announced, but NRI said that prices are expected to start around $450,000, and could exceed $2 million for a heavily customized large unit.

Amy Schmittauer, President of the Downtown Residents Association, echoed Conte’s concerns as well as his enthusiasm about the project.

“We are thrilled to see such excitement and new plans in residential condo development Downtown,” she stated. “That said, what makes our neighborhood special is the accessibility that we have here. We hope to continue to see this growth in options — both renting and owning — but particularly in price point as well so we may maintain the opportunity for owners in the Millennial demographic who have a desire to choose Downtown Columbus, yet are being priced out.”

NRI is planning to begin construction once the project gains approval by the Downtown Commission, and is aiming for a Spring 2017 completion date. The site where the building will be located has room to accommodate two additional phases, though plans for those phases are not being announced at this point in time. Once all phases are built out, Parks Edge will complete the original footprint of the Arena District’s master plan for development, though NRI has expanded development westward, and will continue to grow into the 25 acre Jaeger Machine site located between the Buggyworks and the new 5.5 acre Borror mixed-use development along the Riverfront.

For more information, visit www.parksedgecondos.com.

Rendering provided by NRI, Architecture by HOK.

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  • JMan

    No bad. Great and welcome news for us.

  • JMan

    Personally, I would have loved to see some design innovation, and a just bit more height.

    • Enabled

      It never fails that there’s a comment on building height. I can’t wait till the Burj Khalifa comes to Columbus. :)

      • ohbr

        Bahaha. fantastic.

    • My guess is that keeping it shorter than North Bank would limit the impact it would have on the skyline views from the penthouse floors in that building. If it were any other developer, they probably wouldn’t care, but NRI likely doesn’t want to ruin the views for one of their own buildings by blocking it with another.

      Anyway… I think the design looks good, and will probably age well too.

  • mbeaumont

    All in all, I think it’s a nice design. We could always talk about bigger, more innovative, etc. But I think this is a good looking project.

  • Gnoraa

    Although inevitably there will be comments on how we need to build higher, I’d keep in mind that this is only the first phase of a likely 3 phase process for this whole property development plan. The positioning of this 12 story building right up along the street directly across from North Bank Tower leaves the possibility that the final phases will build more upward on the other end and slightly diagonally from this structure also avoiding side by side building of such height, it would space them out slightly and make it much more aesthetically pleasing. But that’s just my position, I mean, it’s NRI, I don’t feel like they do things “wrong” and will end up finishing out the Arena District in a great way!!

    • They’ll likely mirror this building along the frontage (so 12 stories consistently along Spring), but I think you’re right that there’s potential for a taller project in the NE corner of the block — it would need to be taller to get views over the building in front, plus maximize those facing McPherson as well — hopefully another 20-story. Should be interesting to see what happens!

    • combs1ng

      I agree Gnoraa. I believe since this building will be upfront in terms of a view to downtown, later developments should hopefully be taller. The design is pleasing overall but I wish they would incorporate a living garden on this building. The mostly glass tower would contrast nicely with some hanging greenery or small garden walkouts.

  • It’s simple and clean. I’d love to see a dash of color added to the mix, though

  • ohbr

    I’m glad there will FINALLY be a proper sidewalk on the north side of Spring Street between Neil and McPherson Commons.

  • zgreen

    That empty space + parking lot on Arch Park disappoints me to no end.

    • It’s temporary.

      From above: “The site where the building will be located has room to accommodate two additional phases…”

      • zgreen

        Haha, I saw that right after I posted. Can’t wait!

  • I’m glad they are finally getting around to this! :-)

  • Love it! Would really, really like to see a restaurant space or two on the lower level. Now that we have this amazing new Scioto Greenways park on this condo tower’s doorstep, it’s surprising how few amenities (places for people to spend money) there are right around that footprint. This is pretty much the only place at the northern end of the park where a restaurant could go.

    • I agree. It would also be cool to see a restaurant on the top floor too!

    • Yup, they need to duplicate the success of Milestone 229! This is the perfect spot for that on the edge of 2 parks

  • WJT

    It is quite appropriate.

  • Jason Powell

    A mid-level rooftop restaurant overlooking the riverfront and skyline would have been pretty unique. It’s also nice to see this little glass and steel corner of the Arena District contrasting with all of the brick in the rest of the neighborhood.

  • MichaelC

    +100, JoeV.

    Overall, great addition to the riverfront skyline, and to the Arena District.

  • This is exciting. Seems to be a great fit for the arena district.

  • Chaotic21

    I was going to say where are these people going to park until I saw the renderings of the area plan…Its my concern is that parking and pool structure. Are people supposed to park there and walk over to their apartment building? or is there going to be some underground parking available for the residents? Because as of now Northbank has very little parking that just barely accommodates the residents…barely their guest and heaven forbid if they have contractors to work on their home that have to park blocks away at meters….

    • Chaotic21

      and now that i have studied this rendering again. Who is paying 450k to 2million for a home that they park that far away? that’s silly!

      • Robertsd937

        The people who’ll be buying these units aren’t the sharpest knives in the drawer.

      • It’s a 327-space private garage that appears to be attached with a covered skywalk. It will be abundant parking for the building, and will likely serve the additional two buildings planned for future phases.

    • Robertsd937

      All part of the city’s “cars are evil” strategy.

  • Robertsd937

    Awesome….get the yuppies out of the suburbs! Get a Whole Foods, Starbucks, and some Wine Shop across the street and they’ll be fighting over the units.

    • I wonder what grocery store is planning to go into the Buggyworks site? I still think that’s a strange area for a grocery store, so tucked into that corner. A legitimately downtown grocery would make more sense, at least something closer to the critical mass of downtown residents…

  • Cbus2020man

    At least it appears that the NRI team and their architectural consultants have succeeded in convincing Brian Ellis to stop covering every last surface in the Arena District in brick, and as they appear to being doing in the Grandview Yard – it won’t date well – visual and surface diversity matters, so please listen to your team Mr. Ellis. Yes, the new building lacks interesting use of color, innovative use of plant materials, and/or cutting edge form factors (all things that a world class development group should endeavor to explore in 2015), but at the very least it is aesthetically pleasing, well situated, modern in design, and appears to be part of a plan that could go taller in future phases. So, all in all, a great thing. The one issue that everyone should be pushing for however is for NRI to finally develop a real retail masterplan. Vibrant, upscale urban neighborhoods require more than just restaurants to support adjacent sporting facilities. They require both service retail, located on side streets rather than main streets, such as dry cleaning, grocery, drug and convenience stores, etc., and actual retail stores that sell apparel, housewares, etc. That’s what creates a vibrant neighborhood. The current AD lacks connective retail tissue that serves residents and which draws consumers down streets and throughout the district. Those commenting on here push NRI to think harder about this issue. Again however, despite these concerns. This looks like an overall win for Cbus. Anyone who doubts this, need look no further than the monstrosity of a retirement community going up a few blocks away, or either iteration of the White Castle project or the underwhelming Donoto’s project in the SN.

    • SIMMONS

      You said, “They require both service retail, located on side streets rather than main streets, such as dry cleaning, grocery, drug and convenience stores, etc.”

      I especially back you up re: a dry cleaner.

  • SIMMONS

    I like it (a break from the brick-loving Arena District mold, no demo required, in-demand location, no new parking burden).

    Food for thought:

    1. Housing in the Arena District is the opposite need of many other inner-city locations. This project brings housing to a job-filled area.

    2. NRI estimates that they’ll start building “once” the Downtown Commission approves their plans and they hope to be done by Spring 2017. I wish other announced projects (e.g., Lane and High) started at once.

    • Funny you mention Lane & High. Just got word about that project changing ownership hands to become something bigger. Brent’s working on more details on that soon. ;)

      • SIMMONS

        Nice

  • TERRENCE

    how much is the total cost of the construction of this building”Parks Edge Condos”.

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