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West Arena District Expansion - News & Updates

Home Forums General Columbus Discussion Development West Arena District Expansion – News & Updates

Viewing 15 posts - 1 through 15 (of 106 total)
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  • #87491

    News
    Participant

    Arena District casino site likely to get residential complex, neighboring riverside park

    Business First – by Jeff Bell

    Date: Friday, July 22, 2011

    NRI will pay $11 million for the 25-acre tract at the west end of Nationwide Boulevard and is looking at turning it into a residential development, said Nationwide Realty President Brian Ellis. The company also plans to buy another 4.5 acres just west of the Penn National property from the city of Columbus at a fair market price still to be determined, Ellis said. The plan is turn the properties into high-quality housing similar to the apartment and condominium projects NRI has already done in the district.

    READ MORE: http://www.bizjournals.com/columbus/blog/2011/07/arena-district-casino-site-likely-to.html

    #453809
    Walker Evans
    Walker Evans
    Keymaster

    This is great news. Plaza Properties had originally proposed something similar several years ago before selling the land to Penn National for the Casino:

    22 Acre Development West of Arena District

    Plaza had plans for around 1,000 units on the site. If NRI can do the same, that’s probably in the neighborhood of 1,500 new residents living Downtown.

    #453810

    heresthecasey
    Participant

    Agreed, this is probably the best case scenario for the property. Nationwide has a proven track record with their other developments, and clearly have a pretty big stake in the area. Here’s hoping a lot of these units are maybe some more affordable rentals. Also, that the design can engage and connect this far-off corner a little better with downtown.

    Was a little bummed to see that shovels won’t get in the ground for two to three years, but that’s probably smart given the market and the time needed to work on plans and improvements to the surrounding area. When this project and Neighborhood Launch get done it should really help to add some big numbers to the amount of downtown residents. Here’s hoping we can see a couple more announcements in other parts of downtown soon as well.

    eta: Like maybe something over in THIS area.

    #453811

    anillo
    Participant

    Excellent news.

    #453812

    Ameya
    Member

    They said the housing will be just like the other ones in the area, which sadly, probably isn’t very affordable. I guess it depends on your definition, though.

    #453813
    MichaelC
    MichaelC
    Participant

    More housing in the area is excellent; here’s hoping it is affordable, yes.

    #453814
    Walker Evans
    Walker Evans
    Keymaster

    Ameya said:
    They said the housing will be just like the other ones in the area, which sadly, probably isn’t very affordable. I guess it depends on your definition, though.

    I think NRI has done a pretty good job of offering a mix of offerings on both the rental and condo sides of things. Of course, these are residential units in what is considered by many people to be one of the most premium urban locations in the region, so higher-than-average prices are to be expected.

    Arena Crossing rents range from $765/mo to $2000/mo:

    http://www.arenacrossing.com/living-space/floorplans

    Flats on Vine rents range from $805/mo to $1225/mo:

    http://flatsonvine.com/floor-plans/studio-and-one-bedroom

    Burnham Square sold out very quickly, but there are a few units for resale between $379,000 and $415,000:

    http://www.danielburnhamsquare.com/property4sale_list.asp

    And North Bank has the biggest range in condo pricing from $376,000 to $1.4 million:

    http://www.northbankcondos.com/floorplans-pricing.php

    I would think that perhaps this new development could be priced even a little more affordably since it’s a bit further from the action and in not quite the same premium spot.

    #453815

    Analogue Kid
    Participant

    I wonder if they’ll buy and demolish the defunct power plant as well

    #453816

    Downtown proper is very affordable imo. You get much more for your money renting a condo downtown than you do in the Arena District. Regardless, more housing anywhere even close to downtown is good to me. IF a new complex arises on the near eastside, campus, grandview, downtown, german village, where ever it is good news to me. The more units in the central city the better.

    #453817

    I agree downtown is affordable, as is the central city and urban neighborhoods…if you take the time to look. There are lots of smaller brick homes and good housing stock. When you live in the burbs, commute and pay crazy property taxes to live on barren acres and look at the “total landed” and complete cost..you would be better off with an apartment or small home in the city and truth be told you could afford to pay tuition to private schools for your kids. People are lazy and don’t take the time to do their homwework, explore all their options ansd calculate the real costs of living 40 minutes outside the central city. The driving stress alone is an issue…

    My prediction, is that all these urban core neighborhoods will continue to flourish and offer more housing options at all price points not less…

    #453818

    lifeontwowheels
    Participant

    I can talk to buffalos said:
    Downtown proper is very affordable imo. You get much more for your money renting a condo downtown than you do in the Arena District. Regardless, more housing anywhere even close to downtown is good to me. IF a new complex arises on the near eastside, campus, grandview, downtown, german village, where ever it is good news to me. The more units in the central city the better.

    Affordable by whose standard? Empty nesters or DINKs? Is it affordable for young professionals coming out of college with staggering student loans?

    I’d love to see new units but it just seems everything is so focused on luxury. I get that most of what we are getting is new build, so the cost is naturally going to be up. Aren’t some of the student oriented projects in Discovery District hitting the 700-800 range for a 1 bedroom?

    #453819

    Pablo
    Participant

    Analogue Kid said:
    I wonder if they’ll buy and demolish the defunct power plant as well

    If they buy it, I hope they incorporate at least the facade into the new development. I find it really interesting:
    http://maps.google.com/maps?q=Columbus,+OH&hl=en&ll=39.969539,-83.018349&spn=0,0.009645&sll=37.0625,-95.677068&sspn=40.460237,79.013672&z=17&layer=c&cbll=39.967137,-83.018345&panoid=OQFkcRXN2G2wchVlQQtHEA&cbp=12,166.45,,0,-15.12

    #453820

    heresthecasey
    Participant

    Pablo said:
    If they buy it, I hope they incorporate at least the facade into the new development. I find it really interesting:
    http://maps.google.com/maps?q=Columbus,+OH&hl=en&ll=39.969539,-83.018349&spn=0,0.009645&sll=37.0625,-95.677068&sspn=40.460237,79.013672&z=17&layer=c&cbll=39.967137,-83.018345&panoid=OQFkcRXN2G2wchVlQQtHEA&cbp=12,166.45,,0,-15.12

    Well they certainly took that into consideration with their last architecturally-significant acquisition…

    Oh, wait… No they bulldozed it to the ground and now we have an empty lot in place of a stunning and historic facade.

    #453821

    lifeontwowheels said:
    Affordable by whose standard? Empty nesters or DINKs? Is it affordable for young professionals coming out of college with staggering student loans?

    I’d love to see new units but it just seems everything is so focused on luxury. I get that most of what we are getting is new build, so the cost is naturally going to be up. Aren’t some of the student oriented projects in Discovery District hitting the 700-800 range for a 1 bedroom?

    I don’t know what a dink is, but I am a YP with a child and 5 figures worth of student loans, and I rent this place for about 1 dollar a sqf downtown. It is a luxury unit with hw floors, granite, and all the other extra bullshit. 1 dollar per sqf is very reasonable imo.

    In all honesty I believe your definition of a YP and mine are probably different. A YP imo is just that, a young professional. Professionals are lawyers, accountants, engineers, finance professionals, software developers, doctors, etc.

    #453822
    Jason Powell
    Jason Powell
    Participant

    I always thought that power plant would make a cool restaurant/retail location, sort of like the Power Plant in Baltimore.

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