URBAN REDEVELOPMENT VIA SPORTS ARENA -- CASE STUDY -- PART 15

THE ARENA DISTRICT: CONNECTIVITY IS KEY TO 

COLUMBUS’ DOWNTOWN URBAN DEVELOPMENT

NRI has developed 1.5 million square feet of commercial space in the master-planned district.

The city of Columbus spent $16 million within the district and $19 million in areas adjacent to it to improve roads, utilities and infrastructure for tax-generating project.

NRI held much of the land needed for the project, but made a trio of key equations:

§  A13.5-acre city parcel that formerly housed the old Ohio Penitentiary, which had been condemned and was closed for nearly two decades. The land now features a mix of uses.

§  A six-acre tract from AEP, which is now developed in part with an office building where the energy firm now leases 92,000 square feet from NRI.   

§  A six-acre assemblage north of Nationwide Arena purchased from the Franklin County Convention Facilities Authority, where former railroad land will be developed with mixed use.

Case Study continues tomorrow -- June 26