A handful of high-profile redevelopment projects in Columbus received some bad news today. The Ohio Development Services Agency announced the 19 projects state-wide that will be awarded Historic Preservation Tax Credits, and no Columbus proposal made the cut.
That means that plans for the Near East Side Trolley Barn, the Broadwin building, and two historic buildings near the corner of Broad and High Downtown could be altered or delayed.
The other Columbus projects that submitted proposals for this round of tax credits were the Palace Theater, the Columbus Electrical Works building (at 777 N. Fourth St.) and the McClure-Nesbitt Motor Company building (at 1505 E. Main St.).
Two historic building renovations in Mansfield were the only projects to be awarded credits in the Central Region. A press release noted that Mansfield had never received a Historic Preservation Tax Credit before.
Four Cincinnati projects made the list, as did five Cleveland projects and the Third Street Arcade in Dayton.
The credits are awarded twice a year, and last summer two Columbus projects received them – the former Columbus Dispatch building at 34 S. Third St., and Engine House No. 6, on West Broad Street in Franklinton. The Dispatch building is currently being renovated for office space, while the former fire station will house the new headquarters of Heritage Ohio as well as a first-floor retail tenant.
Brad DeHays of Connect Realty, the owner of the Trolley Barn site, called it “incredibly surprising that Columbus didn’t get a single project, I don’t remember when or if that’s happened before.”
As for how it affects his plans, “We’re going to go back and try again for the next round,” DeHays said. “This doesn’t derail the project, we have a very good score, and the assumption is we should perform well next time…it’s 90 percent leased, and if anything maybe this gives us an opportunity to get a couple of other tenants who have shown interest to commit.”
Stay tuned to Columbus Underground for updates on the other projects that missed out on this round of tax credits.