NRI’S TRANSFORMATIONAL MIXED-USE PROJECTS IN COLUMBUS SERVE AS GROWTH CATALYST
May 1st, 2014
Oliver Higgs, Heartland Real Estate Business
The Ohio Association of Realtors recently reported that home sales for 2013 in Central Ohio ended the year up more than 17 percent over 2012. Commercial construction increased at an even higher pace, surging 26 percent above the $1.3 billion in 2012 to more than $1.65 billion in 2013.
More importantly, the region has surpassed its pre-recession employment peak—two years ahead of when the rest of the country is expected to do the same. The fundamentals and demand are in place to fuel strong commercial development in Columbus and Central Ohio.
Columbus-based Nationwide Realty Investors (NRI), the real estate development affiliate of Nationwide Mutual Insurance Co., owns and manages more than $1.4 billion in real estate investments across the United States. Two of its largest projects are located in NRI’s own backyard and continue to evolve, expand and drive additional development in the region.
NRI’s $500 million Grand-view Yard development, which is pre-certified LEED Silver for Neighborhood by the U.S. Green Building Council, is located just minutes outside of downtown Columbus and Ohio State University. The 100-acre master-planned, mixed-use development sits on the former Big Bear warehouse site in Grandview Heights.
The project, which already includes a 92,000-square-foot Class A office building, a 42,000-square-foot LA Fitness, a 126-room Hyatt Place hotel and 154 luxury apartment units, will be expanded in Phase II.