September 25th, 2009
Doug Buchanan, Columbus Business First
Arena District developer Nationwide Realty Investors Ltd. could begin construction on a 232-unit, $22 million apartment complex off Vine Street in October after completing the purchase of a 2.4-acre site from Columbus.
A Nationwide Realty affiliate and its financial partner, Capitol Square Ltd., paid $2 million in cash for the site Sept. 22. The developer plans to combine the city site with 1.7 acres it owns at Vine and Kilbourne streets for the construction of the three-story Flats at Vine complex.
Nationwide Realty spokeswoman Tina Guegold said the project will have a mix of studio and two-bedroom apartments. The project, designed by the Sullivan Bruck Architects, Inc., also will have a fitness center and swimming pool.
The first units are expected to open in late 2010 with the rest in 2011. The developer declined to reveal further details pending a Sept. 29 review by the city’s Downtown Commission.
Nationwide Realty has had the city land in contract for more than a year and originally expected to break ground in early 2009. The city had sought $5.6 million for the property. Nationwide Realty agreed to the price, but asked that the cost of removing old building foundations and
environmental hazards on the former railroad site, as well as the relocation of a high-voltage electrical line and 36-inch sewer line, be factored into the final cost.
Nationwide Realty also built the Arena Crossing apartment complex two blocks east of the Flats at Vine site.