^Utility work that may or may not be related to the new building.

45 minutes ago, Pablo said:

^Utility work that may or may not be related to the new building.

 

True. But whatever they are working on connects and/or directly abuts the original market. There was another set of contractors there doing interior and exterior assessments of where the two buildings will join etc. 

 

As a semi regular visitor, preferably Mondays when it's much less foot traffic, there's definitely activity in and around the market that I view as the most sure sign of impending construction that we've seen. 

Edited July 11, 20222 yr by DTCL11

I thought it already was announced that the utility work is for the tower?

27 minutes ago, amped91 said:

I thought it already was announced that the utility work is for the tower?

If it wasn't, we can consider your comment to be the announcement.

The BIG question is when do we see the excavation of the cemetery. Weren't there earlier comments on that needing to take a decent amount of time itself? It seems like that detail has kind of fallen off the more recent reporting. 

Materials are being submitted this month to the Historic Resources Commission for temporary signage related to the construction of Merchant Tower. Looks like we are inching closer toward groundbreaking...

 

https://columbusohdev.app.box.com/s/9gdkdqv6tdkvqgto78wlv0h2kfwi5dc8

1 hour ago, cbussoccer said:

Materials are being submitted this month to the Historic Resources Commission for temporary signage related to the construction of Merchant Tower. Looks like we are inching closer toward groundbreaking...

 

https://columbusohdev.app.box.com/s/9gdkdqv6tdkvqgto78wlv0h2kfwi5dc8

Just put a dang shovel in the ground already 🙇‍♂️

From a few years back since we still arent getting much from reporters on any updates. Apparently finding remains near a sewer line in 2001 added 3 months to that project. Some remains are likely to be as little as 1 foot below the parking lot 😳

 

"We are standing on a former public cemetery," says Columbus’ director of development Steve Schoeny. "There may be remains that are dug up. There’s a procedure that we work through how to appropriately dispose of those remains."

 

Those procedures are outlined in a letter from Ohio’s State Historic Preservation Office, which was sent to the developers. And while no formal agreement has been signed, the developers are obliged to follow them. 

 

Weller thinks the bodies should be gently reinterred. Excavating remains and cataloging the finds could cost anywhere from a $250,000 to $500,000, and would take about to two to three months.  

 

These are likely to be the shovels we see for awhile unless there's been some sort of agreement to handle things differently. 

 

 

If you’re staying in the hotel, and you start hearing strange noises at night….

 

The North Market sign should be moving over to the west side of the building soon too. 

1 hour ago, amped91 said:

If you’re staying in the hotel, and you start hearing strange noises at night….

 

Means they missed one. Maybe skip the archeologists... and go with these guys...

 

 

More Utility work in, I’m assuming, continued prep for the tower. 
 

9 hours ago, amped91 said:

More Utility work in, I’m assuming, continued prep for the tower. 
 

Is there a firm start date yet?

9 hours ago, columbus17 said:

Is there a firm start date yet?

According to a timeline released by Columbus Business First today, it should start November 2022. Idk if they got that date directly from Jeff Edwards, or elsewhere. 
 

 

Preliminary work at the North Market seems to be picking up a bit

 

 

 

1 hour ago, CbusOrBust said:

 

Preliminary work at the North Market seems to be picking up a bit

 

 

 

Doesn't it start November? I mean the actual tower? If so they've gotta get all the surrounding stuff done in two months - so I bet it'll really start to ramp up. Any live cameras coming up soon? It'd be very helpful!

16 minutes ago, columbus17 said:

Doesn't it start November? I mean the actual tower? If so they've gotta get all the surrounding stuff done in two months - so I bet it'll really start to ramp up. Any live cameras coming up soon? It'd be very helpful!

They haven’t announced an actual start date, just said it would start in late 2022. 

Just now, VintageLife said:

They haven’t announced an actual start date, just said it would start in late 2022. 

I thought I saw on a thread Edwards said November 2022 and everyone was surprised as it hadn't been said before - but that could have been a different project.

 

1 minute ago, VintageLife said:

They haven’t announced an actual start date, just said it would start in late 2022. 

 

1 hour ago, VintageLife said:

They haven’t announced an actual start date, just said it would start in late 2022. 

CBF reported November 2022 (I reposted the graphic a few posts upthread), which tracks with late 2022. I’m hoping that timeline ends up  panning out—seems like we’ve been waiting for this to start for forever. 

Trees have been removed on the south side of the parking lot, along Vine

2 hours ago, Pablo said:

Trees have been removed on the south side of the parking lot, along Vine

Its picking up!!!!

3 hours ago, Pablo said:

Trees have been removed on the south side of the parking lot, along Vine

Looks like it was to make room for this crew:

 

 

 

Plenty of infrastructure activity on both sides of the market today. Starting to think we might actually see a groundbreaking this year lol

31 minutes ago, amped91 said:

Looks like it was to make room for this crew:

 

 

 

Plenty of infrastructure activity on both sides of the market today. Starting to think we might actually see a groundbreaking this year lol

Wonder how many graves are still under there. I could see that causing a delay once they start. 

Just now, VintageLife said:

Wonder how many graves are still under there. I could see that causing a delay once they start. 

 

It will probably be slow going at first.

I heard it could take up to 6 months to comb through it...

49 minutes ago, Luvcbus said:

 

It will probably be slow going at first.

I heard it could take up to 6 months to comb through it...

Depending in the size, other excavation work can take place. They will just have to shore up the graveyard and do that section last. 

I can't wait for all those ghosthunting shows to book rooms at the hotel.  

This will move slower than the Hilton as an operating business is on the site - so they can't just close an entire road and lay stuff everywhere. It will be a mess and equipment and materials will have to be methodically moved around. Taking time to close, stage, and reopen areas as floors progress will add to the lead times for completion.

55 minutes ago, jonoh81 said:

I can't wait for all those ghosthunting shows to book rooms at the hotel.  

Once it opens one of them needs to wander about aimlessly and then drop into a water tank to seal that deal. They can have their own "Cecil Room" and all.

Edited September 8, 20222 yr by Toddguy

52 minutes ago, columbus17 said:

This will move slower than the Hilton as an operating business is on the site - so they can't just close an entire road and lay stuff everywhere. It will be a mess and equipment and materials will have to be methodically moved around. Taking time to close, stage, and reopen areas as floors progress will add to the lead times for completion.

Exactly the reason why some of those gravel lots on Vine will be in place for the next 3 years at minimum.

I haven't been down in the area in a bit, at least specifically over on Vine. Have they started demolition of Dahlia and the bar that was across the street yet?

11 minutes ago, TIm said:

I haven't been down in the area in a bit, at least specifically over on Vine. Have they started demolition of Dahlia and the bar that was across the street yet?

Not yet.  I was in the area yesterday.

22 hours ago, TIm said:

I haven't been down in the area in a bit, at least specifically over on Vine. Have they started demolition of Dahlia and the bar that was across the street yet?

Has that demo been approved?

The way I look at it, with how much infrastructure work and shovels are already moving on this site, it's basically broken ground as it is lol

 

Lots of infrastructure activity all around the North Market!

 

 

 

 

This was posted over on r/Columbus.  They said they have started the "archeology phase".

 

 

 

 

 

Edited October 7, 20222 yr by Luvcbus

Has anyone been past the North Market recently? Are they still working on excavation?

1 minute ago, cbussoccer said:

Has anyone been past the North Market recently? Are they still working on excavation?

It was surrounded by equipment/crews/digging when I went by on Monday. 

Not really any huge news, but still a positive sign we should be getting closer to a groundbreaking for the tower. The owner of the former BBR and Dahlia buildings on Vine is back before the Downtown Commission with a modified proposal on the demolition request:

 

- They revealed they’ve entered into an agreement with Rockbridge, who will use the former BBR building as their field office during construction of the Merchant Tower. Thus, they are temporarily suspending their request to demo this building. 
- They are still seeking approval to demo the former Dahlia building to serve parking needs once the North Market lot is closed down. Sounds like the Commission is unlikely to approve any building demo without first approving a replacement structure, however. 
 

https://www.columbus.gov/development/public-meetings/Columbus-Downtown-Commission/

6 minutes ago, amped91 said:

Not really any huge news, but still a positive sign we should be getting closer to a groundbreaking for the tower. The owner of the former BBR and Dahlia buildings on Vine is back before the Downtown Commission with a modified proposal on the demolition request:

 

- They revealed they’ve entered into an agreement with Rockbridge, who will use the former BBR building as their field office during construction of the Merchant Tower. 
- They are still seeking approval to demo the former Dahlia building to serve parking needs once the North Market lot is closed down. Sounds like the Commission is unlikely to approve any building demo without first approving a replacement structure, however. 
 

https://www.columbus.gov/development/public-meetings/Columbus-Downtown-Commission/

Hopefully the building renderings they added are not at all what will eventually go into those spots. There needs to be some 7+ in that area, the 5 stories can stay in grandview, and I feel like NRI has done their job and needs to sell off the rest of anything they own, at this point they are holding back actual good dense development. 

Just popped down to the North Market for lunch for the first time in a few months. They have Spruce St. shut down entirely, appearing to be for some underground utility type work on the street adjacent to the North Market Parking lot. Were some pieces of smaller scale construction equipment for road work on Park St. as well. Honestly was not as much action on the site as I thought there would be, hope to see more going on soon.

While we patiently await the tower’s groundbreaking, a little ghost story about the grounds:

 

“John Kerr was one of the four proprietors who founded Columbus in 1812.  Kerr was a successful surveyor and land developer and was quite wealthy when he died of fever in 1823. He was buried in the Old North Graveyard. When that graveyard was abandoned in the 1870s, many of the hundreds of people buried there were moved to another cemetery. John Kerr was not among them. His grave was lost.

 

A man dressed in the clothing of the early 1800s has been seen from time to time in the fog near the North Market, which replaced the graveyard. When approached, he vanishes into the mist. It might be Kerr, the second mayor of Columbus. Then again, it might be Jarvis Pike, the first mayor of Columbus, whose grave also was lost. Or it just might just be some fellow who likes to wander in the mist.“

https://www.dispatch.com/story/news/history/2022/10/30/ghost-stories-always-give-columbus-residents-a-thrill/

 

Happy Halloween, my fellow Columbusites! 🙂

looks like the north market is getting some company on it's old quonset hut site. 👍

Rockbridge has reapplied for TMUD credits, claiming that the project "in jeopardy the tax credit". This could be true, or they could be playing the politics because, if the project isn't in jeopardy without the credits, why grant them the credits? I guess we will find out eventually...

 

https://www.bizjournals.com/columbus/news/2022/11/02/tmud.html 

As I understand it, the project isn't supposed to be in jeopardy without TMUD. TMUD applicants are supposed to exhibit the project can be completed without the assistance. Essentially, it's a reward for a job well done and not to help get projects across the finish line. Which might also explain the tilt for completed projects in the last round. In theory, it's to help developers recover funds so they can move on to other projects. Claiming a project is in jeopardy without TMUD seems to be against the spirit of the TMUD and 2 would be highly unfortunate to hear at this point getting so close to a potential groundbreaking. 

30 minutes ago, DTCL11 said:

As I understand it, the project isn't supposed to be in jeopardy without TMUD. TMUD applicants are supposed to exhibit the project can be completed without the assistance. Essentially, it's a reward for a job well done and not to help get projects across the finish line. Which might also explain the tilt for completed projects in the last round. In theory, it's to help developers recover funds so they can move on to other projects. Claiming a project is in jeopardy without TMUD seems to be against the spirit of the TMUD and 2 would be highly unfortunate to hear at this point getting so close to a potential groundbreaking. 

 

Based on the below quote from the article, it seems the TMUD credit is viewed as a solution to push a project over the line that otherwise would not have been financially viable.

 

Quote

 

Ryan Sommers, managing director of financial services at Project Management Consultants LLC, helped write the legislation that formed the TMUD tax credit program.

"We came up with the concept for the tax credit after working on a project in Cleveland in 2017 that didn't go through," Sommers said. "Often in Ohio, the project cost exceeds the value, so developers have to bridge that financial gap.

 

 

2 hours ago, cbussoccer said:

Rockbridge has reapplied for TMUD credits, claiming that the project "in jeopardy the tax credit". This could be true, or they could be playing the politics because, if the project isn't in jeopardy without the credits, why grant them the credits? I guess we will find out eventually...

 

https://www.bizjournals.com/columbus/news/2022/11/02/tmud.html 

They also make the comment that this type of project is hard to deliver in Ohio, which confirms the concerns we talk about on UO a lot.  Unfortunately, they don't say why it's hard to deliver.

From the ODOD page:

 

The tax credit must be a major factor in the completion of the project.

 

https://development.ohio.gov/business/state-incentives/transformational-mixed-use-development-program
 

As one law firm puts it:

 

Applications for the TMUD Tax Credit must be made to the TCA and include, among other things, evidence that (i) within five years of the project certification, the increase in tax collections will exceed 10% of the estimated development costs and (ii)

the project will not be completed unless the applicant receives the credit.

 

https://www.vorys.com/publication-Transformational-Mixed-Use-Development-Tax-Credit-2021

 

That said, I do think, while there’s likely a mixture of truth in Rockbridge’s statement, it’s likely they’re primarily just playing the game. 
 

Also, I still think it’s BS that CoverMyMed’s HQ won out last round over Merchant and Peninsula 2. I don’t think there was enough investigation into that. 
 

I’m also wondering if Rockbridge didn’t convince the CDDC to sit this round out with Peninsula 2 to give Merchant a better chance, and that’s the reason we didn’t see Peninsula apply. 

5 minutes ago, TH3BUDDHA said:

They also make the comment that this type of project is hard to deliver in Ohio, which confirms the concerns we talk about on UO a lot.  Unfortunately, they don't say why it's hard to deliver.

I thought that was interesting too. I wonder if it primarily has to do with slower growth compared to, say, some Sunbelt states, and less likely hood of property value increased?

1 hour ago, DTCL11 said:

As I understand it, the project isn't supposed to be in jeopardy without TMUD. TMUD applicants are supposed to exhibit the project can be completed without the assistance. Essentially, it's a reward for a job well done and not to help get projects across the finish line. Which might also explain the tilt for completed projects in the last round. In theory, it's to help developers recover funds so they can move on to other projects. Claiming a project is in jeopardy without TMUD seems to be against the spirit of the TMUD and 2 would be highly unfortunate to hear at this point getting so close to a potential groundbreaking. 

As I understand the TMUD program it is the complete opposite of what you are claiming.

Good to see it clearly laid out on the state website now than trying to weed through the law and articles.  Better late than never I suppose. My misunderstanding was it was born out of NuCLEus wanting significant breaks to make a financially impossible project work with significant public money but lawmakers didn't want it to be that influential on the outcomes which is why in the end, NuCLEus wouldn't have been eligible because they couldn't exhibit it was on solid financial ground without it. Again, my understanding was that lawmakers didn't necessarily want it to be make or break but I guess that's wrong. Kind of. 

 

This further throws confusion into the whole Merchant project and TMUD.

 

1. How did Gravity 2.0, well underway, and CoverMyMeds, near completion win round one?  2 of the 3 Columbus Projects from round one were clearly going to be completed with or without. 

 

2.  So the Merchant Building has to show they really really really needed but also show the public that it's ready to go. 

 

Awhile ago, I got pretty beat up on here suspecting that the tower was in much more significant financial trouble than they tried to project.  So we are either back to that or they have to pretend to get the credits that they might not actually need (like gravity and CoverMyMeds) which would then be contrary to the stated intent? 

 

Edit: does this mean that any project that applies for TMUD we really shouldn't take seriously and assume it will go on the never built pile with that requirement of having to demonstrate it cannot be completed without the award? 

Edited November 2, 20222 yr by DTCL11

The application states the following as a requirement:

 

The project must evidence that the tax credit is a major factor in the ability to start 
or complete the project. This evidence must include: 
i. A narrative describing the financing circumstances of the project and the 
deficiencies in the capital stack that that make the tax credit necessary for 
the project;
ii. A sources and uses document that illustrates the financing gap; and
iii. A description as to how the tax credit will be used in the financing. Any 
plans to transfer the tax credit to increase the capital stack must be 
included in this description.

 

 

So they have to demonstrate the project wouldn't happen were it not for the tax credit. Although, I still don't think Cover My Meds should have won, I'm sure it hit the economic impact requirements, but something tells me McKesson could have found a way to cover any funding gaps. 

 

But yeah I think we should consider any proposed applicant vaporware until they win the credit. That said I'm sure there are applicants who don't really need the credit and are just playing the tax credit game (cough* Cover My Meds *cough)