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Columbus Business First
Columbus' zoning code to be officially updated this month
Columbus City Council will officially take a vote on a new zoning code on July 29. <\p> City council will consider several pieces of legislation around the zoning code as a first reading on July 22 and vote the following week. <\p>
The National Observer: Distress rises for apartment owners
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today, we'll take a look at the challenges of finding new tenants as two prominent drug store chains close stores, uncertainty around new rules on brokers in the home buying sector, and Big Lots' plan to close dozens of stores as doubts arise around its solvency over the next year. But for our top story we're going to examine distressed debt in the multifamily sector.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter. <\p>
Mixed-use development with over 300 housing units proposed in Delaware
A mixed-use project anchored by more than 300 housing units is planned for an agricultural property in the city of Delaware.<\p> Fincon Epic Ventures Ltd. submitted a rezoning request with the city for a project located at the northeast corner of South Section Line and Marysville roads. The 50-acre site currently contains two single-family residences and accessory structures, though the majority of the property is used for farming, according to city documents.<\p>
OSU President Carter wants to engage community to grow internships
Ohio State University president Ted Carter plans to be “bullish” about student internships and career pathways.<\p> When it comes to job development, Carter said during a Wednesday Columbus Metropolitan Club event that he’s already proud of how many business leaders are running major internship programs that include several OSU students.<\p>
Franklin ranks as top county nationwide for economic development
Central Ohio is home to one of the best counties for economic development, according to Site Selection magazine.<\p> Franklin County racked up 2,347 points to take the No. 3 spot in the U.S., behind only Maricopa County, Arizona (Phoenix) and Harris County, Texas (Houston). The publication awarded points based on the number of projects between January 2023 and March 2024, capital investment and jobs created. <\p>
Spinout of Scotts cannabis supply division off the table – for now
Scotts Miracle-Gro Co. is keeping its cannabis supply division in-house, after more than a year searching for a potential spinout but not finding a deal with favorable terms.<\p> Hawthorne Gardening Co. has gone through a drastic makeover the past two years – down to about 275 employees from 1,300 at its peak, Chris Hagedorn, division president and Scotts executive vice president, told analysts and investors gathered Tuesday at the Marysville headquarters.<\p>
Details coming together for Columbus' vacant, foreclosure registries
The City of Columbus' multi-pronged effort to address the region's housing shortage just grew another branch. <\p> Columbus City Council Monday passed legislation to create vacant and foreclosure registries. Columbus Business First spoke with the city to learn more about how these registries will work. <\p>
The ghost effect: Another sign the job market has dramatically shifted
Three years ago, many employers reported the phenomenon of being "ghosted" by job candidates.<\p> In yet another sign of the shifting labor market, the shoe is now on the other foot, with companies now abruptly ceasing communication with candidates. <\p>
Here's the latest hospital construction plan from OhioHealth
OhioHealth Dublin Methodist Hospital is slated for its biggest expansion since opening in 2008 – and since its two main competitors either have opened or are building major facilities in the suburb.<\p> Still in preliminary planning stages, the renovation and building addition could exceed $200 million, a spokeswoman said via email. The ground-up hospital cost $150 million to build 16 years ago.<\p>
Downtown Columbus bar and restaurant closes
Hadley's Bar + Kitchen is no more. The downtown Columbus restaurant at 260 S. 4th St. has closed. <\p> The bar and restaurant offered a menu of pub fare including appetizers, burgers and sandwiches, plus an extensive drink selection. It opened in August 2016.<\p>
See inside Thrive Cos.' Little Grand Market, opening Aug. 16
The Little Grand Market at Thrive Cos.' Grandview Crossing development will open Aug. 16. <\p> Work on Grandview Crossing started nearly a decade ago when Thrive Cos. began to remediate and redevelop the former landfill into apartments, office and retail. The Little Grand is the latest part of the development to come to fruition. <\p>
Downtown Reynoldsburg project garners sale and financing approvals
A downtown Reynoldsburg project appears to be moving forward after the city approved the sale of the property to the developer, whose board authorized financing for the mixed-use development.<\p> Located at 7221 E. Main St., the $31 million project involves the construction of a four-story building with 77,000 square feet of residential space on the upper levels and 8,000 square feet of commercial space on the first floor. The housing component includes 100 mixed-income units. <\p>
Builder pessimism grows with rising interest rates, added inventory
Homebuilders continue to offer a bevy of incentives to remain competitive, but sustained higher mortgage rates and an increase in the number of homes for sale is dampening their overall sentiment about market conditions. <\p> Major homebuilders like Lennar Corp. (NYSE: LEN) and D.R. Horton Inc. (NYSE: DHI), among others, have been offering various concessions to prospective buyers at a time of much-higher mortgage rates than a few years ago and record home-price appreciation. Among the more popular offerings is a mortgage-rate buydown, in which a builder will put points down to reduce a buyer's mortgage rate.<\p>
This startup has a plan for when a big revenue source disappears
With the upcoming expiration of a big revenue boost enjoyed over the past few years, a Columbus fintech has made acquisitions and raised its first private equity to expand its services and software features.<\p> Arvo Tech automates data collection and filing for dozens of employment-related tax credits for more than 1,500 small and mid-size businesses. This spring, it acquired two full-service accounting firms for more comprehensive tax services.<\p>
Why Martha Stewart is working for a Central Ohio public company
Martha Stewart – a self-proclaimed "dirt nerd" – is the new "chief gardening officer" of Scotts Miracle-Gro Co.<\p> The lifestyle maven added a more hands-on consulting role to the endorsements she's made in several Miracle-Gro ads, including a campaign this spring for its organic soil and feed line.<\p>
Housing authority approves $38M to add 200 apartments in Central Ohio
Columbus and Reynoldsburg will see nearly 200 new affordable housing units go up, thanks to an investment from the Columbus Metropolitan Housing Authority. <\p> The CMHA board of commissioners approved a combined $38 million that will add 194 multifamily, mixed-income apartments at new properties in Columbus and in Reynoldsburg. <\p>
Developer still plans grocery store for downtown project
The developer behind a large mixed-use development in downtown Columbus has added over 100 apartments to a previously proposed project, but still plans on trying to land a grocery tenant for the neighborhood. <\p> Bluestone Brothers Capital is proposing a 23-story mixed-use building with 290 apartments and a five-story commercial building at 199 E. Rich St. The 23-story building would front Rich Street and the commercial building would front 4th Street. This is a larger project than the developer proposed last April. <\p>
Federal grant aims to increase apprenticeships in region
Aspyr (formerly the Workforce Development Board of Central Ohio) has received a $4 million Apprenticeship Building America grant to increase apprenticeships in the region.<\p> The U.S. Department of Labor awarded more than $244 million in grants for apprenticeships "in growing U.S. industries," according to a news release.<\p>
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