Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Hubbard High Acquisition, LLC. The Ohio Enterprise Zone law (Section 5709.62(C) of the Ohio Revised Code) requires the City to enter into Council-approved agreements between the City and participating companies.
Hubbard High Acquisition, LLC, an affiliate of Dublin, Ohio-based developer Crawford Hoying Development Partners, LLC, is proposing to redevelop the former Haiku restaurant site located at 800 North High Street, Columbus, Ohio 43215 (Project Site) in the Short North Arts District, into a 10-story, approximately 150,000-square-foot mixed use hotel, commercial office, and retail development.
Once constructed, the new building on the southeast corner of High Street and Hubbard Avenue is expected to house a nearly 7,000 square foot ground-floor restaurant space, approximately 45,000 square feet of Class A office on floors three through five, a Moxy Hotel supported by Marriot on floors six through nine, and a second restaurant with a roof-top bar on the 10th floor.
Parking to serve the building is expected to be wholly provided by valets with room for 144 vehicles to be parked within the building. A U-shaped valet drop off area will be located in the rear of the building with access off of Pearl Alley. Vehicles will be stored on one underground level and portions of the second floor, and vehicle lifts will be utilized to maximize efficiency. This allows for a building design with parking that is largely hidden from pedestrian view.
Hubbard High Acquisition, LLC is expected to invest approximately $51,000,000 to construct and finish the full development, of which approximately $14,000,000 will be related to the construction of approximately 45,000 square feet of commercial office space. An additional $4.2 million, of the $51,000,000 will be related to the construction of 86 parking spaces in support of the office development. It is estimated that the new develo...
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