HighPoint at Columbus Commons will bring apartments and retail to the historic downtown neighborhood
ATLANTA (Sept. 5, 2012) – Carter, one of the nation’s largest investment, development and advisory firms, announced today it has commenced construction on the second phase of a mixed-use project at Columbus Commons in downtown Columbus, Ohio. Carter, along with local equity partners Bob Weiler and Don Kelley, is moving forward with the $50 million project, which is a redevelopment of the former Columbus City Center mall that was dismantled in October 2009 to create a public park and spark future development.
Recently named HighPoint at Columbus Commons, the 325,000-square-foot residential and retail development will add 301 residential units atop 23,000 square feet of first-floor retail space to a well-known, high-profile area of the city. A number of public and private investments, including Columbus Commons and the Scioto Mile, have helped to transform this area of downtown Columbus and are serving as catalysts for private investments like HighPoint.
Residents and visitors can expect to see 10-15-foot construction fences going up around the site during the coming weeks, with work beginning on underground utilities and foundations before the end of the month. The project is scheduled to be completed by December of next year.“The location of this development on Columbus Commons is a huge amenity,” said Conor McNally, chief development officer at Carter. “We are excited and honored to be a part of such an important project for an incredible city. HighPoint at Columbus Commons is the next step in an exciting mixed-use re-development plan for this site. We are delighted to build on the momentum that the park has created in the short time since it opened last year.”
Located on the west side of the park, along South High Street, HighPoint will comprise two acres on the Columbus Commons site. The residential units will be designed with a warm, red-brick traditional style, and will include studio, one- and two-bedroom apartments, as well as 11 two-level town houses on the park side of the building. Amenities include a swimming pool, club room, workout room and connection to the underground parking already available underneath Columbus Commons.
Plans currently call for the retail space to be comprised of two restaurants with outdoor seating and views of the park and pavilion stage.
The development, which is currently a nine-acre green space home to the Columbus Bicentennial Pavilion, 12 gardens, a carousel, two cafes, and a reading room, has already enjoyed great success since opening in May 2011. The experiences and events offered at the park, such as concerts, movie nights, and food trucks, have helped to rejuvenate the area that once shut down after offices closed.
Carter purchased the land from Capitol South, who developed Columbus Commons. “We are excited to see Carter breaking ground on HighPoint at Columbus Commons,” said Guy Worley, CEO of Capital South. “From day one, the residential and retail components have been an important part of the master plan, and we are pleased to see them happening so soon after completion of the park.”
The Robert Weiler Company is leasing the retail space and Village Green is handling residential leasing and property management. Construction financing is being provided by Huntington National Bank with participation from Fifth Third Bank and First Commonwealth Bank. The architect is Columbus-based Moody Nolan, and the general contractor is Brasfield & Gorrie.
Founded in 1958, Carter is one of the country's leading real estate development, investment, and advisory firms. The firm has headquarters in Atlanta and operations across the country. Carter focuses on development of mixed-use and multifamily projects in urban infill locations, equity development of student housing, acquisition of opportunistic office, project management and strategic consulting. Carter’s high-caliber associates create value for clients using a team-based approach that leverages strong expertise and a deep knowledge base in a wide variety of markets. Carter is the country’s third-largest commercial developer, according to National Real Estate Investor, with strong higher education, k-12, interiors, and corporate specialty practices. Carter also focuses on value-add real estate investment opportunities, currently overseeing a $750 million portfolio. Carter’s asset management division manages more than $2 billion of third-party and Carter-owned assets. Its strategic consulting practice provides clients with customized real estate solutions. For additional information on Carter, please visit http://www.carterusa.com.
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