City unveils big redevelopment plans west of Arena District

Columbus officials liked the ideas they got for transforming the old city power plant west of the Arena District so much that they're green-lighting two of them.

The city has chosen the local development team of Connect Realty and Schiff Capital Group to redevelop the plant at 555 W. Nationwide Blvd. It's also arranged for Dublin-based developer Borror Properties and joint-venture partner Ruscilli Construction Co. to develop another city-owned property at 640 W. Nationwide Blvd. on the Olentangy River into a new headquarters for both of them. Each project is expected to bring about 150 jobs downtown.

Columbus Development Director Steve Schoeny told me those vying for the power plant redevelopment presented strong concepts, but he said the plan from Connect Realty President Brad DeHays, in partnership with Michael Schiff of Schiff Capital, stood out because they plan to redevelop all three buildings in the complex.

"They did something to maximize the use of the existing space," Schoeny said. "... We like to save historic buildings with character. That was a core objective."

DeHays told me he and Schiff expect to transform the former power plant and boiler room into 25,000 square feet of offices and event space, while converting the 1950s-era third building into 32,000 square feet of offices. They have a letter of intent with Garth's Auctions Inc. of Delaware as a likely anchor in the old power plant.

See the image gallery for renderings of the project.

Work would begin after the city moves out in late 2015 on the 1.2- to 1.35-acre site the developers hope to secure for $300,000, and the project likely wouldn't get completed until late 2017. The developers are working to secure brownfield grants from the city and state to offset the cost of cleaning up various environment hazards in the complex, parts of which date back 100 years or more.

Brian R. Ball covers commercial real estate and development for Columbus Business First.