Nationwide Realty Investors has secured infrastructure financing for the second phase of the Grandview Yard development. The Columbus-Franklin County Finance Authority has issued $107 million in tax-exempt bonds to support the project. The infrastructure financing is essential for the development of the proposed 115-acre mixed-use project located between Goodale and West Third Avenue in the City of Grandview Heights and the City of Columbus.
“NRI has had the pleasure of working with the Finance Authority on financings for Grandview Yard in 2014 and 2009. Our team could not have been happier with the cooperation and professionalism of the staff and board in meeting our needs and timeframe. We could not have completed this project without them.” said Brian Ellis, President, Nationwide Realty Investors.
The Grandview Yard public improvements are anticipated to be more than $150 million over a multi-year period. The infrastructure will include new roads within the site, improvements to roads off-site, utilities, and four parking decks.
The infrastructure improvements are essential for the private development which has dramatically accelerated with the recent announcement of an additional hotel, conference center, and three new office buildings totaling more than 500,000 sq. ft. These offices are designed to accommodate an additional 3,000 jobs. These newly announced plans are in addition to the work currently underway that includes a 75,000 sq. ft. office building, Hofbrauhaus restaurant, Panera, Ohio Health Urgent Care facility, and Giant Eagle Market District with a Get Go gas station. An additional 120 apartments are also scheduled to be completed this fall. This will add to the existing Grandview Yard apartments for a total of 274 residential units.
The Finance Authority has issued over $592 million in bond financing projects that will invest more than $741 million and create 4,956 jobs in Central Ohio.
The Columbus-Franklin County Finance Authority offers creative and alternative financing tools, focusing on job growth, to new and existing companies looking to expand or relocate services to the area. The Finance Authority also provides assistance to community redevelopment projects.
The Finance Authority gratefully acknowledges support received from the Franklin County Board of Commissioners and the City of Columbus.