Each quarter, Capital Crossroads and Discovery SIDs prepare a comprehensive report on economic development activity downtown. In late July, the SIDs held an Economic Development Update event to highlight the mid-year report. Highlights of the report include historic tax credits being awarded to two notable projects downtown (White-Haines, Madison's and Modern Finance buildings); The Atlas and Hawthorn Grove opening their doors to new residents; and five residential projects now under construction. Find the online report here.
First Look: 2015 Mid-Year Downtown Economic Development Update was held July 29 at Chase Tower. Participants enjoyed networking and breakfast, followed by a presentation. Marc Conte, deputy director of research, planning & facilities at Capital Crossroads and Discovery SIDs presented highlights of the report and discussed upcoming activity for the remainder of the year. Brett Kaufman, Founder and CEO, Kaufman Developments then shared an update regarding his residential development activities downtown, including 250 High, the LeVeque Tower and a new 17-story building at Columbus Commons.
Conte noted that there is a record number of projects either proposed or under construction, including 10 housing projects under construction and 11 proposed. Kaufman’s project in the LeVeque Tower, including luxury apartments on floors 19 to 44, is scheduled for completion in the spring of 2016. While Two25 Commons is set to begin construction in early 2016 and will feature an as-yet-undetermined tenant mix that will include condominiums and apartments. Also developed by Kaufman Development, 250 High will see tenants move in very soon.
Kaufman discussed the demographics of those interested in moving downtown, saying they generally fall into two groups: millennials and empty-nesters. His projects are designed to appeal to both, including the growing number of downtown residents expected over the next three years.
Thank you to Chase for hosting the event.