DevelopOhio

In the second round of the state’s new transformational mixed-use development tax credits, two local projects out of the eleven that applied (see our November 15, 2022 blog post) were awarded credits, Columbus Business First reports. Rockbridge’s North Market tower project known as The Merchant Building “won a $34 million tax credit for the nearly $345 million project,” according to the article. Thrive Cos.’s The Grandview Crossing development “was awarded $6.3 million for the $506 million project.” The two projects “promise to add nearly 1,500 apartments, hundreds of thousands of square feet of office and retail and several hundred hotel rooms to the region.” Both projects “scored high in the following categories: committed financing, end-use commitment, walkability, job creation and community impact.” A recent presentation at the Tax Credit Authority showed the state “had a preference for projects with more committed tenants or end users, projects in areas of walkability and those creating more payroll or economic activity.” For more, read the full article (subscription may be required).