Tuesday, December 21, 2010

Vandercar Plans $120M Oakley North Redevelopment

Rob Smyjunas of Vandercar Holdings met with City Council in Oakley, OH this week to propose the development of a new mixed-use development on a 74-acre site and expects to sign an agreement by the end of the year on the $120 million project according to a Business Courier article. The project, formerly known as Millworks Town Center, received approval last week to apply for $3 million in Clean Ohio Revitalization funds to demolish buildings and clean up the site.

Plans for the new development include the construction of 350,000 square feet of retail space, a 55,000-square-foot movie theater, 200 apartments and 250,000 square feet of office buildings. The project includes property that formerly held the operations of Cincinnati Milacron, Unova Industrial Automation, CECO Environmental and the Factory Power Company. Members of the Council saw the plan several weeks ago, said Peter Draugelis of Vandercar, and approved the development after making several requests according to a Cincinnati.com article. Requested modifications reportedly included the consideration for pedestrian-friendliness, green space, and that the project not have a large presence of big box stores.

For more news and information visit Blumberg Capital Partners.

No comments:

Post a Comment