Project Update: Founders Park in Harrison West
Although there is still plenty of work to be done before the 21-acre development is complete, a new hotel and the first phase of apartments are now open at Founders Park.
The site occupies a piece of land along the Olentangy River that was once a Battelle parking lot, between Third and Fifth Avenues. It is being developed by Thrive Companies (formerly Wagenbrenner Development), along with Continental Real Estate, Fortress Real Estate Companies, Daimler Group and M/I Homes.
The northern edge of the development is the farthest along – a new Hyatt House hotel opened at 633 W. Fifth Ave. in late July, and the first 42 apartments in the project, which overlook Fifth Avenue, are now 100 percent occupied.
Just to the east of the new apartments is a row of single family homes, many of them nearing completion, built by M/I Homes. The west side of Perry Street is also now lined with new homes, as well as the first of what will be three, seven-unit townhome buildings.
Michael Amicon, VP of Development for Thrive Companies, says that the next 115 apartments are on track to open in October, with another 191 units set to come online in March.
When complete, the development will hold a total of 348 apartments, supported by a 472-space parking garage. The final residential component of the project will be a 24-unit building in the center of the site, offering for-sale flats; Amicon says a design for that building has yet to be finalized.
Prices for the one and two-bedroom apartments range from $1,260 to $2,255 per month, while the townhomes start at $650,000. As part of the tax incentives granted the project by the City of Columbus, Thrive Companies committed to renting 35 of the apartments at prices affordable to those making 80 to 100 percent of the area median income (which would mean a rent range of $1,264 to $1,894, inclusive of utilities).
About half of the 11,000 square feet of ground floor commercial space along Fifth Avenue has been spoken for, according to Amicon, who says to expect a tenant announcement soon.
Also currently under construction on the site is a five-story, 189-unit senior housing complex that will be operated by Danbury Senior Living. To be called Danbury on 5th, the development will offer independent living, assisted living and memory care, and is scheduled to open before next summer.
Additional Reading: Battelle Development Now Called Founders Park