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Wednesday, April 22, 2020

The Market Plaza Strip Mall is Now Completely Demolished, Work Beginning on INTRO Project

Posted By on Wed, Apr 22, 2020 at 2:39 PM

click to enlarge MARKET PLAZA/SCENE
  • Market Plaza/Scene
After years of uncertainty and changes, Harbor Bay Real Estate's market plaza project in Ohio City across from the West Side Market is finally underway.

The arrival of the coronavirus pandemic and its attendant economic fallout was the unforeseen but, hopefully, last hurdle to clear.

"There have been so many flags on this project over the years," said Harbor Bay's Dan Whalen of some of those issues, including public financing agreements that forced the company to scale the project back from two buildings to one. "And then this COVID stuff happened right around closing. With a loan this size, it's always stressful, because we also had a second piece with the state up in the air, and then it's March and we're seeing the economy start to slow and governments closing stuff down. We pushed like hell to get it done, and we did, all remotely. Our brokers, who work on hundreds of deals nationwide, was telling us that anything not already out for a signature or right near it were being put on hold or killed. So we were fearful if we didn't push it might have been killed."
click to enlarge HARBOR BAY
  • Harbor Bay

The timber-framed 9-story building will have 40,000 square feet of retail space and 300 apartments.

With everyone staying at home under orders from Gov. Mike DeWine, few have probably noticed that the strip mall that had since the 1970s occupied the land that will become INTRO has now been demolished.

Next up is digging the parking basement, Whalen said. If the demolition was a stunning change, just wait until the next part takes shape.

"This is going to be a big hole. Huge," he said. "It was an expensive decision to put the parking in the basement, but we wanted to have a dynamic greenspace on the property. So, this is going to be a 70,000-square-foot, 26-foot-deep hole."

That should be done by July.

Crain's has a good rundown on the full history here, if you're interested.
click to enlarge SCENE
  • Scene

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