Schottenstein Real Estate Group Continues Rapid Growth
Over the past year, the Schottenstein Real Estate Group has constructed over 1000 residential units, more than any other development company in Central Ohio. They’re showing no signs of slowing down either, with plans for 10 more community developments that include 1,500 additional units and totally over $150 million in construction investment over the next two years.
“For the last several years, our company has been in expansion mode, but now we are going to take that to another level,” says Schottenstein Real Estate Group Vice President Brian Schottenstein. “We control over 250 acres of land and plan on also having residential communities in thriving central Ohio locations and possibly expanding into other markets out of Ohio and Florida by 2014.”
Existing Schottenstein residential communities are located on suburban sites near retail corridors in Hilliard, Dublin, Grove City, Pickerington, Canal Winchester and parts of Columbus. Communities include amenities such as resort-style pools, fitness facilities, community gardens, dog parks, media rooms and more.
“The apartment market has really been strong since the housing market is down,” says Schottenstein. “I feel that rentals will remain strong for a good amount of time.”
One Schottenstein community currently under construction is Lancaster Midtown, located in the northwest section of the city of Lancaster, Ohio. Some of the current developments being planned will be more urban in nature.
“Some of our new communities will be urban mixed-use developments,” says Schottenstein. “Those will also include office and retail components.”
Those projects are still going through approval processes and further details will be made available soon.