COLUMBUS, Ohio (WCMH) — Demolition is expected to begin this spring to make way for a new mixed-use Columbus tower that recently earned a tax credit from the state of Ohio.
Bluestone Brothers Development was awarded a $4.5 million tax credit on Jan. 27 from Ohio’s Transformational Mixed-Use Development Program for “The Estrella” project. Plans call for the 24-story tower to be built on the southeast corner of East Rich and South Fourth streets, currently home to single-story buildings that will face a bulldozer.
The Estrella is one of nine Ohio projects that were given tax credits last month as part of the Mixed-use Development Program, including another Downtown project tasked with transforming Capitol Square by redeveloping or replacing underutilized buildings and surface parking lots.
A mixed-use development being built on the former Germain Amphitheater site near Polaris Fashion Place can now move forward with additional phases after also receiving a tax credit from the mixed-use program.
Costing about $122 million, The Estrella will span more than 500,000 square feet and “add to the revitalization of the Fourth Street district corridor” with residential units, restaurants, office space, event venues, recreation spaces and a public plaza. The development will also be home to a grocery store, which aims to provide much-needed access to healthy food options in a “food desert.”
Bluestone Brothers’ previous proposal for the project called for the demolition of several-story buildings home to several businesses, including Dirty Frank’s, 16-Bit and the former Red Velvet Cafe. Since then, Bluestone has altered the project to keep those storefronts in place and axed plans for a five-story commercial building that was going to take the existing businesses’ space.
The Estrella is expected to create approximately 1,239 construction jobs and 808 permanent jobs at the project site.