Explanation
The City of Columbus, Public Service Department, Transportation Division, received a request from Spectrum Properties, Inc., doing business as 78 Chestnut Street LLC, ("the Developer") asking that the City transfer a fifteen foot wide strip of right-of-way off the west side of North Third Street, between Chestnut Street and Locust Street, to them. The Developer is converting 77,000 square feet of unoccupied office space at 78 East Chestnut Street into 48 residential condominium units to be known as CityView at Third. Transfer of this fifteen foot wide strip of right-of-way will allow the Developer to provide private screened patios for the ground floor condominium units at CityView at Third. As an additional part of the redevelopment of this site the Developer has agreed to take responsibility for the adjacent asphalt street (which is a dead-end alley) and convert it into a public pedestrian walkway from Chestnut Street on the south to Locust Street on the north. The Developer, on behalf of the CityView condominium association, has agreed to assume the long term maintenance responsibility and will enter into a maintenance agreement with the City for this public walkway area. Per current Transportation Division practice, comments were solicited from interested parties, including City departments, private utilities and applicable area commissions, before it was determined that there would be no adverse impact to the City upon transfer of this right-of-way, subject to the retention of a general utility easement for those utilities currently located within this portion of North Third Street and a maintenance easement for the existing retaining walls supporting the Third Street Viaduct. The Department of Law, Real Estate Division, established a value of $35,128.80 for this right-of-way. In recognition of the long term financial responsibilities, the value of the improvements undertaken by the Developer at this location that will further the intere...
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