Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Wilson Twin Creek Partners 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.
Wilson Twin Creek Partners LLC is a partnership that is comprised of members of Tenby Partners who will serve as the sponsor entity that invests directly in and oversees the development of the project. Tenby Partners, established in 2005, is one of the larger local real estate development firms in the Columbus region. Over the past decade, Tenby Partners has successfully completed over 500 major projects nationwide. Wilson Twin Creek Partners LLC will be the owner of the project.
The project represents a massive private investment in an area of the City lacking in Class A flex office space. Office flex buildings are often desired by companies doing research and development in the technology and biotechnology industries. This development is specifically designed to meet needs of smaller businesses with a higher-end Office, R&D, Lab & Showroom Tenancy.
Wilson Twin Creek Partners LLC proposes to invest a total project cost of approximately $9,600,000 in real property improvements to construct two separate 41,400 square-foot proactive Class A flex office buildings for a total of 82,800 square-feet at 1330 N. Wilson Road, Columbus, Ohio 43204, parcel number 145-286330 and 3590 Twin Creeks Drive Columbus, Ohio 43204, parcel number 560-125544 (collectively, and hereinafter referred to as the “Project Site”). The company anticipates that the development of the proposed project will lead to the relocation of an unknown number of positions from within the City of Columbus or surrounding communities, and the creation 15 net new full-time permanent positions with an estimated annual payroll of approximately $600,000 at the proposed Project Site.
The Department of Development ...
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