COLUMBUS, Ind. — The Columbus Redevelopment Commission has approved an agreement with Flaherty & Collins for a mixed-use multifamily urban grocer development south of Second Street downtown.
The agreement was approved Wednesday at a special commission meeting.
Redevelopment director Heather Pope said that the planned development will include approximately 200 apartment units, anywhere from 12,000-15,000 square feet of “additional retail space downtown in the form of an urban grocer” and 400 additional parking spaces. Of the parking spaces, 50 will be for the urban grocer plan, 100 will be given to the county and the remaining spaces will be for the apartment complex.
Deron Kintner, with Flaherty & Collins, also said that the developer will “invest heavily” in amenities such as a coworking space, pool, clubhouse and possibly a pickleball court. Rob Hunden, of Hunden Strategic Partners, said that the mixed-use development will also include 5,000 square feet of additional retail space. Pope said that Hunden is an expert on the hospitality industry and has brought “a great deal of knowledge and support” to the project.
Pope said the estimated project cost is about $39 million, of which the City of the Columbus will contribute $11.8 million. She added that counting bond issuance costs, this comes out to about $12.17 million. She said that the commission could provide cash or a down payment of $2 million and finance the remaining approximately $10.17 million in a bond. Proceeds from the development’s property tax dollars will go to repay the bond.
For more on this story, see Friday’s Republic.
