Plans may serve as a model for others

DEVELOPMENT

Franklin County commissioners have approved tax incentives for the owner of the aging Olentangy Valley Centre to redevelop the site off Route 315 just north of Interstate 270 in the northern part of the county.

The plan for that property could be a template for other older retail centers in unincorporated areas of the county, said James Schimmer, Franklin County economic development and planning director.

“We’re just sort of setting the table, looking at redevelopment,” Schimmer said.

Commissioner John O’Grady said, “It appears this is something we can look to use for properties of this type across the county in the future if this works the way we think it’s going to.”

The resolution for the community reinvestment area that the commissioners adopted last week calls for 15-year, 100 percent tax abatements to remodel or build commercial buildings.

“I’m sure there are plenty of these aging strip centers that will look at this as a model, use it as ... an example,” O’Grady said.

Columbus-based Continental paid $5 million for the 1970s-era center in 2017. The developer plans to demolish an office building at the center’s south end to build a 100-bed senior center in partnership with Indianapolis-based Traditions Management.

Other major tenants at the site, including The Hills Market and the Rusty Bucket restaurant, will stay on the 10-acre site in Sharon Township.

The site is just east of the Worthington Hills community. Mike Sloma, president of the Worthington Hills Civic Association, wrote in an email that his group had heard something about development, but nothing specific.

Sharon Township Trustee Lindsay Duffey said she hopes any new development will benefit area residents.

“We’re just excited that they’re looking to refresh the site and attract new tenants,” Duffey said.