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Columbus: Downtown: Millennial Tower

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4 hours ago, Toddguy said:

I wish I could get a really could answer for why Columbus is not building to meet demand. I just do not get it. The stats and info are there to show the demand is there...why is the building not meeting the demand?  And this goes beyond tall towers for downtown.  Why are so many projects in limbo?-are they awaiting/expecting a recession?

With a few exceptions, most of the growing medium to large size cities in this country are not building enough housing to meet growth demand. I don't think we're unique.

 

4 hours ago, GCrites80s said:

Underfunded developers; not enough developers

I moved from Los Angeles to Columbus 6 years ago. Things were bad there then, they are worse now. The housing shortage in Los Angeles has been accelerating, not slowing, despite increasing construction. Los Angeles is a world city with lots of developers and lots of money. I don't think underfunding is the problem there, I don't think it is here. I think capital is being allocated elsewhere because developing housing at any scale in virtually any city in this country is risky, expensive, and difficult. You get better returns spending your money elsewhere.

 

I read the Vogt report. I think a 2050 1.5% growth prediction for Columbus is overly optimistic. The Urban Institute estimates a rate somewhere closer to 1.1% between now and 2030 , and Columbus's poor out-of-state immigration rate is going to continue to be a unique problem. Even if you do take Vogt's projections at face value, they cite our problems as "zoning, land availability, regulatory guidelines, construction costs and availability of skilled workers". That doesn't sound like underfunded developers, that sounds like it is difficult to make a profit building housing. 

 

They note that Austin and Charlotte have over twice as many permits per year since the economic recovery. In every article I've read, Austin has doubled our growth since the recession, and is projected to continue doing so for the foreseeable future; so is Charlotte. I don't think it is fair to look at cities with greater growth and compare ourselves without adjusting for that. I think if we consider our slower growth rate, we are probably not doing much worse than those similar cities. 

 

I think if people really believe we are facing a housing crisis, the best thing any city can probably do is look at its existing transit corridors and remove basically all restrictions on letting someone buy along the corridor, demolish whatever is there, and build a bigger building. Even California won't consider that. If you think affordable housing is a right, we can't expect developers to deliver it while taking a bath financially. Almost every neighborhood and area commission except for Downtown SID and maybe the Hilltop seems to be a an anti-development stumbling block. It seems like getting zoning variances just to redevelop a parking lot continues to be a challenge in most neighborhoods. 

Edited by HarrisonWester2

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14 hours ago, jonoh81 said:

 

This is just not true at all. Nashville, Austin, Charlotte, etc. all have larger city boundaries with far more open land and with lower overall densities.  They get towers.

 

Columbus is NOT building to even meet existing demand, let alone building for the future.  It would have to build several times more units per year just to meet it, so this idea that it has tons of activity compared to peers is totally false. 

Beyond this, we know demand is very high.  We know that because vacancy rates are very low and prices across the area are rising rapidly.  The amount of surface lots Downtown has very little or nothing to do with not getting taller buildings. 

My question to you is when is the last time you've been to these cities?  On the ground there is as much going on in Columbus as there is the others mentioned and this I know for a fact and have seen firsthand.  The issue that you're not addressing and that I've addressed before is the labor shortage.  You have to realize that while Columbus is growing, so is Cleveland, Cincinnati, Indy and Pittsburgh.   There is one project that has sourced from outside Central Ohio to build and that's Moxy in the Short North(they're out of Baltimore).  Also a lot of people forget about the 12 story Canopy hotel building.

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8 hours ago, HarrisonWester2 said:

With a few exceptions, most of the growing medium to large size cities in this country are not building enough housing to meet growth demand. I don't think we're unique.

 

I moved from Los Angeles to Columbus 6 years ago. Things were bad there then, they are worse now. The housing shortage in Los Angeles has been accelerating, not slowing, despite increasing construction. Los Angeles is a world city with lots of developers and lots of money. I don't think underfunding is the problem there, I don't think it is here. I think capital is being allocated elsewhere because developing housing at any scale in virtually any city in this country is risky, expensive, and difficult. You get better returns spending your money elsewhere.

 

I read the Vogt report. I think a 2050 1.5% growth prediction for Columbus is overly optimistic. The Urban Institute estimates a rate somewhere closer to 1.1% between now and 2030 , and Columbus's poor out-of-state immigration rate is going to continue to be a unique problem. Even if you do take Vogt's projections at face value, they cite our problems as "zoning, land availability, regulatory guidelines, construction costs and availability of skilled workers". That doesn't sound like underfunded developers, that sounds like it is difficult to make a profit building housing. 

 

They note that Austin and Charlotte have over twice as many permits per year since the economic recovery. In every article I've read, Austin has doubled our growth since the recession, and is projected to continue doing so for the foreseeable future; so is Charlotte. I don't think it is fair to look at cities with greater growth and compare ourselves without adjusting for that. I think if we consider our slower growth rate, we are probably not doing much worse than those similar cities. 

 

I think if people really believe we are facing a housing crisis, the best thing any city can probably do is look at its existing transit corridors and remove basically all restrictions on letting someone buy along the corridor, demolish whatever is there, and build a bigger building. Even California won't consider that. If you think affordable housing is a right, we can't expect developers to deliver it while taking a bath financially. Almost every neighborhood and area commission except for Downtown SID and maybe the Hilltop seems to be a an anti-development stumbling block. It seems like getting zoning variances just to redevelop a parking lot continues to be a challenge in most neighborhoods. 

 

Actually, the reports I've read have suggested that Columbus' rate of building is poor even compared to its national peers, let alone cities as big as LA.  Other cities may not be meeting demand, either, but the situation is particularly bad in Columbus.  Your own links support that.  All 3 of the cities compared in the Vogt are larger area wise than Columbus, but Columbus grew faster in 2017 compared to Austin or Nashville (and only 32 people slower than Charlotte).  In Nashville's case, Columbus has been growing faster pretty much always.  If you refer to the greater metro, Austin and Charlotte have been growing faster, but this discussion, at least from my perspective, is related to what's going on in the city itself.  This is important given that Columbus' boundaries capture 70% of Franklin County's growth and about 52% of the entire metro's growth.  This is higher than any of its national peers, and higher than almost any city in the nation.  I know this because I've run the numbers.  In any case, it's clear that Columbus has hit a Sun Belt-level growth rate.  It should also be noted that the study used the fastest-growing national peers as a comparison, but Columbus is behind even those cities growing much more slowly than it is.

 

Housing has traditionally been one of the safest investments, actually. Perhaps that has changed since the Great Recession, but I disagree that it's historically been a risky investment.  And that shouldn't be the case at all in a market that is severely underbuilt.

 

The Vogt report is already outdated in terms of metro population, with it being about 70K+ below official Census estimates for 2017.

 

The many reasons listed is why I have said that it's not just about vacant land.  There are much more complicated reasons at play that are holding the area back. 

 

No one is advocating mass demolition to rebuild everything.  There are plenty of places to add real density now, and plenty of non-historic, single-story buildings that could be easily replaced, even along major corridors.  This has mostly to do with outdated zoning.  Local developers have been complaining about this for years, and NIMBYs have been given far too much sway with the backing of these poor codes.  Columbus has been very slow to update them. 

 

 

 

 

Edited by jonoh81
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I'm going to throw this a little more back on topic with a slight update...

 

Looks like LoopNet just updated lease and programming details days ago, none of the information is necessarily new but it looks like Elford has now added a third agent to this project. In addition, looks like they've released a new brochure with more up to date renders including "tenant" signage and a construction completion date of 2021. 

 

Now again, this means very little without shovels in the ground but it's more proof that they're continuing to work on the project so the tower isn't dead yet.

 

https://images3.loopnet.com/d2/JQE85VQrteGUgrsSh9toLBiPJjAreylQH1jtt8Hlneo/document.pdf

 

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7 minutes ago, DevolsDance said:

I'm going to throw this a little more back on topic with a slight update...

 

Looks like LoopNet just updated lease and programming details days ago, none of the information is necessarily new but it looks like Elford has now added a third agent to this project. In addition, looks like they've released a new brochure with more up to date renders including "tenant" signage and a construction completion date of 2021. 

 

Now again, this means very little without shovels in the ground but it's more proof that they're continuing to work on the project so the tower isn't dead yet.

 

https://images3.loopnet.com/d2/JQE85VQrteGUgrsSh9toLBiPJjAreylQH1jtt8Hlneo/document.pdf

 

 

I still believe this project will happen. I know some people think that's crazy, but whatever. Now, if only a certain Columbus website who used to have an active forum but decided to close said forum would do some investigative journalism and figure out what the holdup is, I think we would all be very appreciative. 

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1 minute ago, cbussoccer said:

 

I still believe this project will happen. I know some people think that's crazy, but whatever. Now, if only a certain Columbus website who used to have an active forum but decided to close said forum would do some investigative journalism and figure out what the holdup is, I think we would all be very appreciative. 

I agree with you. I’ve seen projects die before, and there’s usually a lot more radio silence than we’ve been getting with this tower. If we don’t have a more definitely timeline later this year, then I’ll change my tune, but for now I’m not worried (just impatient).

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Can we create a new thread where we unnecessarily stress over the fact that we don't have enough buildings over x number stories being built and keep this thread on the topic of Millennial Tower? 

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1 minute ago, Toddguy said:

This building would really help fill in the gap in the skyline between the statehouse cluster and the municipal government complex to the south.

 

It sure would, although the buildings that have gone up the general vicinity over the last 4 years have provided some great infill. The two Kaufman buildings and the LC buildings created a nice base, but this building would really take it to the next level. 

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24 minutes ago, mrnyc said:

 

come on guise. yes cle and pitts are not growing. but the growth they do have is spurred by the back to the city movement, so much of it is in the core downtown. the outskirts continue to struggle and nobody who moves in wants to willing live in many areas. columbus on the other hand experiences natural growth all over, not too much is off the table for move ins comparatively,  with emphasis on certain popular corridors and neighborhoods. downtown just does not quite happen to be one of them as yet.

 

i never worried about this for columbus even back when i lived there. the table is set, especially with that horrible city center mall out of the picture. and its not like nothing is being built there, ie., that project across high st from the former mall commons park. obviously towers are going to happen eventually, if not at an austin pace. so instead of jenga towers, better to wait and find developers to do it right. its the same as cle waiting on the warehouse district and building up around it and cinci on the westside. also, ie., cle almost had a horrible mini tower on its prime public square site at one point, no one complained when they backed off of that and a new building went to the flats instead. so its all good to dodge some of these misfires even if they would add height downtown. patience - ha!

I don't know if you are speaking directly about the Millennial Tower or the old NuCLEus project in Cleveland, but the Millennial Tower, while a bit ungainly, is not a Jenga tower. It is more of a column that has had the top parts cut back a bit-but none of the upper parts extend outward outside the base column so it is not a Jenga tower imo.

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^ Dammit why did you take away my post on the costs? lol. 

 

Anyway, I realized that this building is going to be 400,000 square feet instead of 750,000 square feet(can't remember where I saw that) so 150 million construction costs seem much more reasonable at around 375 dollars a square foot, which also makes me feel better about this project coming to fruition.

 

*pruning the wrong branch..smh..  😉  

Edited by Toddguy

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Just now, Toddguy said:

^ Dammit why did you take away my post on the costs? lol. 

 

Anyway, I realized that this building is going to be 400,000 square feet instead of 750,000 square feet(can't remember where I saw that) so 150 million construction costs seem much more reasonable at around 375 dollars a square foot, which also makes me feel better about this project coming to fruition.

 

Hotel - I personally feel way more optimistic with the hotel addition to this project. They are claiming a Hilton flagship which means something must be agreed to or signed regarding that portion. 

 

Parking - Parking is a massive 6 floors of this thing, which is an entirely different issue, but we do know that parking will sell. 

 

Apartments + Condos - I feel like with the pent up demand and how quick nationwide filled Parks Edge, this has to be guaranteed success. 

 

Retail + Office - Well these really the big gamble in this plan, but the office is only four floors of space. I would hope it would be pretty open concept as opposed to traditional corporate stuffy. Root moved into 80 On The Commons, and we're constantly seeing that tenants are craving modern open floor plates that some of the older towers are missing, I just feel like there has to be someone who would jump on this. 

 

I don't know, by my count a solid 22 floors of this thing are guaranteed to work. Maybe all the money is in the office and retail aspect but I just feel like based on all this info and the constant updates, this thing will happen and its just taking longer than we would all like. 

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34 minutes ago, DevolsDance said:

 

Hotel - I personally feel way more optimistic with the hotel addition to this project. They are claiming a Hilton flagship which means something must be agreed to or signed regarding that portion. 

 

Parking - Parking is a massive 6 floors of this thing, which is an entirely different issue, but we do know that parking will sell. 

 

Apartments + Condos - I feel like with the pent up demand and how quick nationwide filled Parks Edge, this has to be guaranteed success. 

 

Retail + Office - Well these really the big gamble in this plan, but the office is only four floors of space. I would hope it would be pretty open concept as opposed to traditional corporate stuffy. Root moved into 80 On The Commons, and we're constantly seeing that tenants are craving modern open floor plates that some of the older towers are missing, I just feel like there has to be someone who would jump on this. 

 

I don't know, by my count a solid 22 floors of this thing are guaranteed to work. Maybe all the money is in the office and retail aspect but I just feel like based on all this info and the constant updates, this thing will happen and its just taking longer than we would all like. 

I know the office is about 150,000 square feet out of the 400,000 square feet. And the included parking plus being close by the public garage will help. They really just need to get that office tenant. 

 

I am really wanting this to get built now. After looking at the newest iteration it is not that bad really.

 

https://elfordrealty.com/property/millennial-tower/

 

http://images1.loopnet.com/d2/sz-Q7MvQp9j3Vu-6-Q86QZaf_ywgmTXTRRyrkEK9H1Q/document.pdf

 

From the stacking plan on the second link I counted a height of 404 feet.

 

*the parking levels are listed as 14 feet floor to floor...isn't that kind of high for parking?

Edited by Toddguy

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9 minutes ago, John D. Baumgardner said:

 

I actually love the updated version of this tower, but that name has to go! 

(It's harkens back to Y2K and the year 2000)

 

 

 

"Millennial" Tower is pretty clearly a placeholder name right now. 

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32 minutes ago, cbussoccer said:

 

"Millennial" Tower is pretty clearly a placeholder name right now. 

 

Let's hope so! I'd like to see 'Scioto' incorporated into the naming of this project ...

 

'The Scioto Sphere'

'The Tower at Scioto Landing'

'Scioto Place'

 

The naming will hopefully be something centric to Columbus and it's proximity to the Scioto River.

 

🤔😁😊

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1 minute ago, John D. Baumgardner said:

 

Let's hope so! I'd like to see 'Scioto' incorporated into the naming of this project ...

 

'The Scioto Sphere'

'The Tower at Scioto Landing'

'Scioto Place'

 

The naming will hopefully be something centric to Columbus and it's proximity to the Scioto River.

 

🤔😁😊

 

The plan is for the naming rights to go to the anchor tenant, if they can ever lock one down. 

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2 minutes ago, John D. Baumgardner said:

 

Let's hope so! I'd like to see 'Scioto' incorporated into the naming of this project ...

 

'The Scioto Sphere'

'The Tower at Scioto Landing'

'Scioto Place'

 

The naming will hopefully be something centric to Columbus and it's proximity to the Scioto River.

 

🤔😁😊

 

Knowing how the naming of buildings has trended recently, I'd place my bets on 101, or 101 W RICH, or if they secure a major tenant it'll be the "(My New Favorite Company) Tower".

 

Wouldn't count on anything any more creative than Millennial Tower.  

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On 3/11/2019 at 1:57 PM, Toddguy said:

I know the office is about 150,000 square feet out of the 400,000 square feet. And the included parking plus being close by the public garage will help. They really just need to get that office tenant. 

 

I am really wanting this to get built now. After looking at the newest iteration it is not that bad really.

 

https://elfordrealty.com/property/millennial-tower/

 

http://images1.loopnet.com/d2/sz-Q7MvQp9j3Vu-6-Q86QZaf_ywgmTXTRRyrkEK9H1Q/document.pdf

 

From the stacking plan on the second link I counted a height of 404 feet.

 

*the parking levels are listed as 14 feet floor to floor...isn't that kind of high for parking?

The parking floor heights are high intentionally, so they can be converted to office space in the future if needed.

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I took a peak at Elford Realty's website: https://elfordrealty.com/featured-commercial-properties/. There is only 40,000 square feet of office space still available, which means that 110,000 of space is already accounted for. Does anyone have an idea if "anchor tenant" could be the last 40,000? My guess is that they already found the anchor tenant who took up a bulk of that 110,000 sf.... I'm not giving up hope yet!

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10 hours ago, SavedTheCrew said:

I took a peak at Elford Realty's website: https://elfordrealty.com/featured-commercial-properties/. There is only 40,000 square feet of office space still available, which means that 110,000 of space is already accounted for. Does anyone have an idea if "anchor tenant" could be the last 40,000? My guess is that they already found the anchor tenant who took up a bulk of that 110,000 sf.... I'm not giving up hope yet!

 

I'm still seeing all office space as available. The 40,000 is retail.

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16 minutes ago, aderwent said:

 

I'm still seeing all office space as available. The 40,000 is retail.

 

Their table doesn't make sense to me. It has a column titled 'Available SF' which is populated, but then they have a column titled 'Available' which is completely blank. The 'Rate' and 'Lease Type' columns are also blank. We can probably assume all of the space is available, but chart is a bit confusing. 

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8 minutes ago, cbussoccer said:

 

Their table doesn't make sense to me. It has a column titled 'Available SF' which is populated, but then they have a column titled 'Available' which is completely blank. The 'Rate' and 'Lease Type' columns are also blank. We can probably assume all of the space is available, but chart is a bit confusing. 

 

It's been pretty inconsistent since the beginning on the Elford site, I've been checking the site on Loopnet more recently because it displays every time there is an update to the page. 

 

https://www.loopnet.com/Listing/101-W-Rich-St-Columbus-OH/11228312/

 

They are labeling it as 101 W Rich St so its kind of hard to find just under "Millennial Tower". 

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In the realm of "developments I have been following way to closely"... Millennial seems to have leased some spots out based on its Loopnet listing.

 

Screen grab from April...

 

746548506_ScreenShot2019-05-22at11_24_45AM.png.3f99ec177e667ba58cccd9daad69bae7.png

 

Compared to a screen grab from today...

 

231109350_ScreenShot2019-05-22at11_24_31AM.png.86a1b517778a1e5c5bd24723aa49ea89.png

 

Hopefully this means the project is still going behind the scenes. I don't imagine this is a bad thing. 

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Um... hey, Arshot; Quantum Health needs 150,000 square feet. What are you doing?

 

Class A office space shortage could cause Columbus to lose big employer to Dublin

 

"Quantum Health Inc. is on the verge of moving 800 high-paying jobs and expected growth of 350 more to Dublin from Columbus because it can't find a big enough office."

 

https://www.bizjournals.com/columbus/news/2019/06/13/lack-of-class-a-office-space-could-cause-columbus.html?iana=hpmvp_colum_news_headline

Edited by aderwent
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I'm starting to think the issue at hand is that they aren't serious. 

I follow the leasing site like a hawk but it blows my mind they haven't been able to sign office tenants yet when we are seeing stories like those above weekly. Its always "Startup Blank is moving here" or "Major Company blank is seeking space to expand" but nothing seems to be happening in the one major office proposal we have for downtown right now.

 

My guess is one of these... Either Arshot isn't as serious as they say, or Elford is a terrible leasing team, or companies struggle to commit to ambiguous timelines. No matter what it is, it seems that something isn't working. 

Edited by DevolsDance
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It seems like it would be pretty difficult to lease a bunch of office space when the building likely won't be complete for another ~2.5 years from the time construction starts. It's pretty difficult for a company to commit to that kind of timeline. 

 

I know it's risky and financing can be difficult, but for this to work it seems like they need to just get construction underway and then they can start getting leases signed as construction comes to an end and companies have a more definitive timeline. 

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13 minutes ago, Scott Krajeski said:

But, it also does say that Quantum Health Inc. needs the space sooner than later.  I don't believe the timing would work even if the tower were going vertical tomorrow.

Millenial Tower was announced three whole years ago. Quantam has probably been looking for awhile now.

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Yeah the article says that Quantum has been hunting since at least February 2018, that's when Columbus was notified by Dublin. 

 

Granted, Quantum is currently in the suburbs and may have not been interested in a Downtown location, but I hardly believe Quantum is an outlier here in the terms of companies seeking larger or creative office space in this city. If Millennial is set to have open floor plan office much like that of 250 High and 80 OTC, I have no reason to believe it would struggle to fill the space, plenty of companies are seeking the open and bight office space of new builds like this project. 

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On ‎11‎/‎27‎/‎2018 at 1:12 PM, tlb919 said:

Looks like Elford has updated its site over the last week or so now with more details and possibly a more clear picture of the leasing situation 

 

https://elfordrealty.com/property/millennial-tower/

 

Based on the "Project" numbers vs the available numbers, It looks like they maybe have about 30,000 SF leased office wise and about 5,000 SF in retail. 

I came up with this based on some quick math and site stats but, it's something. 

 

I've heard there is some movement, which is good, but like I said a few months ago, I've been told they're really holding out for a key tenant. 

 

Do you have any more on this?


Very Stable Genius

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Arshot is garbage,  worse developers in the city. If this project was from Kaufman or a few other developers I would feel okay about this moving forward.  However,  its Arshot, they cant be trusted 

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For those even remotely interested anymore, while all insight I have say the project is dead and the common belief is the project is dead, Arshot is for some strange reason is still paying for "Featured Projects" space on LoopNet for the perspective tower. I've been keeping and eye on it and they are still updating the page about one a week from the once a month it used to be. 

 

I don't know why Arshot would try to keep the charade unless they were serious (which I don't believe they are) but it seems someone over there wants to keep eyes on this thing. 

 

https://www.loopnet.com/Listing/101-W-Rich-St-Columbus-OH/11228312/

 

Apologies to anyone that saw this pop up and got excited, it's still not that kind of development tale yet. 

 

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I mean, Arshot kept up the facade for SPARCC for years as well. The sign may even still be there if I remember correctly. 

 

And they may, in earnest be still looking for the right tenant to make it work but it comes down to the idea that if you havent found an anchor or two by now in today's market, what about the project is off and not able to attract them. 

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They also still have two signs up in River South: one at the actual site and another at the NE corner of 2nd and Main, for some reason.

 

I was positive and optimistic about this project, but I also think it's dead. Very sad considering Michael Coleman was involved in its final approval. What happens to the plot of land if the project is indeed dead? Sell it?

Edited by Zyrokai
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Given that we are dealing with Arshot and what happened with the old Cooper Stadium site, I have almost no belief that this will get built. I agree with the above about Coleman being involved. Too bad. I am writing this off, and if it does happen, it will be a nice surprise. That is all.

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1 minute ago, Toddguy said:

Given that we are dealing with Arshot and what happened with the old Cooper Stadium site, I have almost no belief that this will get built. I agree with the above about Coleman being involved. Too bad. I am writing this off, and if it does happen, it will be a nice surprise. That is all.

 

I've asked this multiple times before, and I'm not sure I ever got an answer, but are there any examples other than SPARC where Arshot proposed something big and then totally failed? To my knowledge, SPARC is really the only example.

 

I'm not sure you can take the SPARC failure, and then project that onto everything else Arshot will attempt to do and say "they always talk a big game and then fail". SPARC was such a unique project (who builds a racetrack/auto testing facility essentially downtown?) that they were fighting an uphill battle from the get-go. 

 

Now, if there have been other big projects Arshot announced and then flopped on, you could pretty easily argue this is certainly a trend with them and we should never take anything they propose with any seriousness. 

 

 

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8 minutes ago, cbussoccer said:

 

I've asked this multiple times before, and I'm not sure I ever got an answer, but are there any examples other than SPARC where Arshot proposed something big and then totally failed? To my knowledge, SPARC is really the only example.

 

I'm not sure you can take the SPARC failure, and then project that onto everything else Arshot will attempt to do and say "they always talk a big game and then fail". SPARC was such a unique project (who builds a racetrack/auto testing facility essentially downtown?) that they were fighting an uphill battle from the get-go. 

 

Now, if there have been other big projects Arshot announced and then flopped on, you could pretty easily argue this is certainly a trend with them and we should never take anything they propose with any seriousness. 

 

 

 

My understanding is that this is the fourth or fifth go round for Arshot flubbing on a proposal/project. 

 

I believe the biggest project they've ever pulled off was 5/3 Tower back in the 90s, almost all of their other projects were renovations or only half completed if they made it off the ground at all. The biggest glaring project for a long time was Bicentennial Plaza from mu understanding. I believe it was supposed to be a three phase project (hence its strange shape) that included a mid-rise and a tower portion... Nothing ever happened past phase 1. I also believe they had proposed to build a smaller mixed used project where 250 High currently sits along the garage face... Didn't happen. The 107 S High project turned out kind of half done (still missing a video board and accents), SPARC, and now Millennial. 

 

It seems at one point they may have been a bit more reliable, but as of the past 20 years it seems not so much.

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5 minutes ago, DevolsDance said:

 

My understanding is that this is the fourth or fifth go round for Arshot flubbing on a proposal/project. 

 

I believe the biggest project they've ever pulled off was 5/3 Tower back in the 90s, almost all of their other projects were renovations or only half completed if they made it off the ground at all. The biggest glaring project for a long time was Bicentennial Plaza from mu understanding. I believe it was supposed to be a three phase project (hence its strange shape) that included a mid-rise and a tower portion... Nothing ever happened past phase 1. I also believe they had proposed to build a smaller mixed used project where 250 High currently sits along the garage face... Didn't happen. The 107 S High project turned out kind of half done (still missing a video board and accents), SPARC, and now Millennial. 

 

It seems at one point they may have been a bit more reliable, but as of the past 20 years it seems not so much.

 

This is exactly the info I've been looking for. Thank you! Until now, all I've ever seen people talk about was SPARC. 

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On 9/25/2019 at 3:28 PM, DevolsDance said:

For those even remotely interested anymore, while all insight I have say the project is dead and the common belief is the project is dead, Arshot is for some strange reason is still paying for "Featured Projects" space on LoopNet for the perspective tower. I've been keeping and eye on it and they are still updating the page about one a week from the once a month it used to be. 

 

I don't know why Arshot would try to keep the charade unless they were serious (which I don't believe they are) but it seems someone over there wants to keep eyes on this thing. 

 

https://www.loopnet.com/Listing/101-W-Rich-St-Columbus-OH/11228312/

 

Apologies to anyone that saw this pop up and got excited, it's still not that kind of development tale yet. 

 

Does Elford respond to questions about office space if you reach out to them?

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Well, I know you all loved Millennial Tower but it's my pleasure to introduce to you...

... Mini Millennial Tower!  

 

Nope, I'm actually not joking.

 

It seems that Elford has posted a new property on their leasing pages today that is listed as "Mini Millennial Tower".

Looks like Arshot is proposing a 12-story Phase II(?) 130,000 square foot mixed-used mid-rise adjacent to the (still unbuilt) 28-story Millennial Tower. The proposal is located at 109 W Cherry St., a block southwest of the proposed Millennial Tower. The Franklin County auditor site currently lists the plot as being owned by "Bicentennial Holdings", which is a sub of Arshot Investment Corp. Maybe this is their attempt to kick things off and raise capital for the larger Millennial Tower? Or maybe Arhot i just doing what Arshot does and is seeing what sticks at this point. Enjoy.

 

full.thumb.jpg.0a2633c8d65c05c46ea5a77a0c6533ff.jpg

 

Please don't shoot the messenger. Haha

http://elfordrealty.com/property-search/?propertyId=416888-lease

Edited by DevolsDance
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Uh...

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"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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