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$120M Franklinton project lands first tenant, starts ground work

 

Kaufman Development says demolition has started at the West Broad Street site, paving the way for a full block of development totaling 840,000 square feet that will include the neighborhood's tallest building. The second phase sits across the street from the project's first phase at 500 W. Broad St., which was completed last year.

 

The developer also announced its first tenant for this phase of the project. OhioHealth will build a 13,000-square-foot primary care and urgent care facility in the ground floor of the development's main office building.

 

More here: https://www.bizjournals.com/columbus/news/2020/02/10/120m-franklinton-projectlands-first-tenant-starts.html?iana=hpmvp_colum_news_headline

Edited by TH3BUDDHA

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1 hour ago, TH3BUDDHA said:

The developer also announced its first tenant for this phase of the project. OhioHealth will build a 13,000-square-foot primary care and urgent care facility in the ground floor of the development's main office. 

 

That's kind of a big deal and great to see. 

 

 

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1 hour ago, Pablo said:

There's a little wishful thinking on the rendering! 

 

image.png.2c64fa9e29fa3faf7b09128b20041771.png

 

Hey, NBBJ is one of the firms working on the Olentangy Corridor project... Maybe they know something we don't? One can dream, right?

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1 hour ago, DevolsDance said:

 

If I had to guess, price and location.

For comparison, the last time I toured the two locations was back in the fall...

 

Gravity 

1 Bedroom, 733 sq/ft - $1300

Parking $100/month

River & Rich 

1 Bedroom, 700 Sq/ft - $1080

Parking $75/month

 

Additionally, River & Rich kind of has the better location. River & Rich is in the heart of the trendy part of Franklinton, surrounded by 400 W Rich, breweries, and restaurants and is much more active than Broad St. is at the moment from a pedestrian safety standpoint. Gravity will get there but it's just taking a bit longer. I have always been told the first two years of a new project are the hardest because of lease churn and really aren't an indication of market strength. I wouldn't worry too much, especially since they are pushing forward with Gravity II. 

To expand a bit on the completely accurate points mentioned by DevolsDance:

 

- R&R has an on site gym and a heated pool - Gravity does not have either (for now at least, I have heard rumblings that they may add an on site gym in Gravity 1 or 2)

- R&R has a variety of floor-plans including townhomes, flats, and traditional apartments (The townhomes and flats have optional 1 car garages - huge draw that close to downtown)

- Regarding location: this is the main factor here. Yes, R&R is in the more trendy area; however, It goes further. Gravity has heard complaints directly related to the proximity of 3-4 heavily utilized freight rail lines which squeak, squeal and rumble VERY loudly. R&R has a few buildings in close proximity to those same tracks; however, not nearly as close as the entire gravity building. Essentially, 2 of 4 sides of Gravity 1Apartments are within feet of the tracks. IMO, they should have flipped the layout to put the office component closer to the tracks but even that may not have solved the issue.

- Additionally on location, R&R has the benefit of free street parking due to its location. I park in franklinton near R&R or often near the Idea Foundry and walk to the office quite a bit when I do not work remotely so I have noticed this benefit personally.

- Furthermore, the occupancy has been stalled around 40-50% due to the fact that kaufman decided to push the airbnb approach. He is paying people a percentage of revenue to manage furnished apartments as short term rentals. (Source: two friends of mine manage a handful of listings within Gravity 1)

 

The worry I have is that the trains are not going anywhere so will Kaufman manage to build sound dampening walls to help alleviate the noise? or take another approach with building materials that help to alleviate this? Im no expert by any means but there must be some option for him. 

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Gravity II Update: Demolition Begins, OhioHealth Facility Planned

 

gravity-02-2020-03-1150x550.jpg

 

The second phase of Kaufman Development’s Gravity project in Franklinton will include a primary and urgent care facility operated by OhioHealth.

 

The news of OhioHealth’s involvement comes as demolition is scheduled to start on the overall project.

 

Located directly across the street from the first phase of Gravity (at 500 W. Broad St.), the second phase will include a 12-story mixed-use building and a six-story office building (both on Broad); a five-story apartment building featuring “co-living” units; an 889-space parking garage; a five-story townhome and apartment building that will line the west side of the garage; and a courtyard space accessible from Broad Street that is now being called an “Immersive Community Experience Zone.”

 

More below:

https://www.columbusunderground.com/gravity-ii-update-demolition-begins-ohiohealth-facility-planned-bw1

 

gravity-02-2020-01-620x382.jpg

 

gravity-02-2020-02-620x310.jpg

 

gravity-02-2020-04-620x382.jpg

 

gravity-02-2020-05-620x382.jpg

 

gravity-02-2020-06-620x382.jpg

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2 hours ago, NightNectar said:

 

The worry I have is that the trains are not going anywhere so will Kaufman manage to build sound dampening walls to help alleviate the noise? or take another approach with building materials that help to alleviate this? Im no expert by any means but there must be some option for him. 

 

I thought this would be an issue and I'm surprised they didn't try to front the tracks with the parking garage component. They're not even taking that approach with Gravity 2.0, so either they're not that concerned about it or they've found some other way to mitigate it. 

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2 hours ago, NightNectar said:

The worry I have is that the trains are not going anywhere so will Kaufman manage to build sound dampening walls to help alleviate the noise? or take another approach with building materials that help to alleviate this? Im no expert by any means but there must be some option for him. 

 

When the demand gets high enough, the trains won't be as much of a factor. For now, people have more choice, but some of the most expensive homes and apartments in cities with rail face similar issues but if the neighborhood is hot, people will put up with it. If it then becomes that much of a detractor, rents will reduce. 

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2 hours ago, NightNectar said:

To expand a bit on the completely accurate points mentioned by DevolsDance:

 

- R&R has an on site gym and a heated pool - Gravity does not have either (for now at least, I have heard rumblings that they may add an on site gym in Gravity 1 or 2)

- R&R has a variety of floor-plans including townhomes, flats, and traditional apartments (The townhomes and flats have optional 1 car garages - huge draw that close to downtown)

- Regarding location: this is the main factor here. Yes, R&R is in the more trendy area; however, It goes further. Gravity has heard complaints directly related to the proximity of 3-4 heavily utilized freight rail lines which squeak, squeal and rumble VERY loudly. R&R has a few buildings in close proximity to those same tracks; however, not nearly as close as the entire gravity building. Essentially, 2 of 4 sides of Gravity 1Apartments are within feet of the tracks. IMO, they should have flipped the layout to put the office component closer to the tracks but even that may not have solved the issue.

- Additionally on location, R&R has the benefit of free street parking due to its location. I park in franklinton near R&R or often near the Idea Foundry and walk to the office quite a bit when I do not work remotely so I have noticed this benefit personally.

- Furthermore, the occupancy has been stalled around 40-50% due to the fact that kaufman decided to push the airbnb approach. He is paying people a percentage of revenue to manage furnished apartments as short term rentals. (Source: two friends of mine manage a handful of listings within Gravity 1)

 

The worry I have is that the trains are not going anywhere so will Kaufman manage to build sound dampening walls to help alleviate the noise? or take another approach with building materials that help to alleviate this? Im no expert by any means but there must be some option for him. 

I mean, I feel like moving in there, you have to be aware that you're going to hear noise from the trains.  I lived up in Lakewood near Cleveland for around 6 months and tracks go right through the neighborhood.  Because there is an at grade crossing at each block, trains essentially have to just lay on their horn the entire time as they pass through the neighborhood.  You just get used to it as part of living there.

Edited by TH3BUDDHA
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29 minutes ago, TH3BUDDHA said:

I mean, I feel like moving in there, you have to be aware that you're going to hear noise from the trains.  I lived up in Lakewood near Cleveland for around 6 months and tracks go right through the neighborhood.  Because there is an at grade crossing at each block, trains essentially have to just lay on their horn the entire time as they pass through the neighborhood.  You just get used to it as part of living there.

 

I have two friends who grew up right next to rail road tracks and they both said the sound of trains is actually soothing to them at night because they are used to it. 

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I lived next to some tracks in for a year and barely noticed them. No horns though. Remember, if there's train tracks that means you live in the important part of town.

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16 hours ago, 17thState said:

 

I thought this would be an issue and I'm surprised they didn't try to front the tracks with the parking garage component. They're not even taking that approach with Gravity 2.0, so either they're not that concerned about it or they've found some other way to mitigate it. 

 

I was in the building once looking at a unit facing the tracks WHILE the train went by. It honestly wasn't that bad.

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Made quick work of the demo. The last of it appeared to be getting hauled away today. 

20200217_193633.jpg

Edited by DTCL11
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On 2/11/2020 at 8:19 AM, Zyrokai said:

 

I was in the building once looking at a unit facing the tracks WHILE the train went by. It honestly wasn't that bad.

What did you think about Gravity?  I toured it yesterday and I'm considering moving in.

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40 minutes ago, TH3BUDDHA said:

What did you think about Gravity?  I toured it yesterday and I'm considering moving in.

 

I really liked it! I thought the unique layouts of all the different rooms were super cool. I really wanted to move in back when I toured it. I would have been one of the first. I toured it twice while it was still under construction and not even all the rooms had all the fixtures in them yet. And I would have moved in......but it's still too expensive for my blood, though. I just can't do $900 and up : (

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On 2/24/2020 at 8:22 PM, NorthShore647 said:

Mount Carmel demolition from Tommy's parking lot

jj4mYe.jpg

 

^ The Franklinton Cycle Works seen in the foreground was in the news this week:

 

Bike shop buys Franklinton buildings, plans expansion

 

A nonprofit that helps Franklinton residents access and maintain bikes is expanding.  Franklinton Cycle Works has purchased its building at 897 W. Broad St. for $175,000, as well as the building next door at 891 W. Broad St. for $295,000.  The two buildings total about 5,100 square feet and will allow the social enterprise to grow, said Jonathan Youngman, executive director.

 

The shop has two sides – a bike repair shop that lets community members come in and fix up their rides in exchange for donations, and a retail front that sells refurbished and used bikes.  With this expansion, the nonprofit will be able to double the size of both elements, bringing the repair shop to 2,000 square feet and the retail side to 3,100 square feet while expanding the number of bikes that it can sell, Youngman said.

 

MORE:  https://www.bizjournals.com/columbus/news/2020/02/24/bike-shop-buys-franklinton-buildings-plans.html

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