Ground broken for Commons at Clark Hall retail development
AT&T, Chipotle, Panera Bread and the Rusty Bucket Among First Tenants
(GJPS - March 12, 2012
) With the approach of spring, an open patch of land near Hamilton and Granville roads has also sprung to life with safety fencing and the rumble of construction equipment for a promised 24,000 sq. ft. of new, mixed-use retail space.
Titled the Commons at Clark Hall
, Wagenbrenner Developemnt Inc
. has invested approximately $5.9 million to create two, one-story retail buildings on the undeveloped land adjacent to Lincoln High School's Clark Hall.
Due to its prime location, Chipotle Mexican Grill®, Panera Bread®, Rusty Bucket Restaurant, and AT&T Mobile® have formally signed on to become among the first tenants when construction is completed and prepared for a grand opening in October 2012. Discussions continue with others, including with a national chain of coffee houses.
The Gahanna-Jefferson Board of Education acquired the land in the fall of 2009 for the construction of Clark Hall, a state-of-the-art learning facility that not only serves as an extension of the nearby high school, but is also home to a branch of the Eastland-Fairfield Career & Technical School
, as well as a regional satellite campus of Columbus State Community College
The GJPS Board of Education approved the ground lease for the undeveloped adjacent land to Wagenbrenner last fall.
Wagenbrenner recently made a one-time $344,250 payment to the district toward the construction cost of the Clark Hall parking lot. While construction is underway, Wagenbrenner will make ground lease payments to GJPS of $5,500.
Afterward, the lease will provide GJPS with an annual revenue stream of $132,000.
“This is truly a unique, perhaps one-of-kind public/private venture,” said GJPS Treasurer Julio Valladares, emphasizing how it’s a three-way win-win-win
for the district, the city of Gahanna and the developer.
|Win for GJPS and the taxpayer
In addition to the ground lease revenue for the district, the competed
mixed-use development will generate approximately $88,000 in new real
Win for the City of Gahanna
When completed, the project will bring
approximately 70 new jobs with an annual payroll of more than $2
million – generating more than $30,000 in income taxes annually.
Win for the Developer
Wagenbrenner Inc., President Mark A. Wagenbrenner said: “It’s a win for us
and the anticipated 8-12 commercial tenants in that Hamilton Road and
Granville Street is one of Gahanna’s most traveled intersections.” An
Average Daily Traffic Study provided by the city of Gahanna indicate
more than 26,000 cars travel across that section of Hamilton Road each day.
This is truly a unique, perhaps one-of-kind public/private venture
- GJPS Treasurer Julio Valladares
The overall design will be of an art deco theme, with multiple points of entry, meaning no dominant front or back, and ample space for public dining. Buildings “A” and “B” will be approximately 14,500 sq. ft. 9,100 sq. ft. respectively. Wagenbrenner will construct both buildings simultaneously.
The project is scheduled for completion and a formal grand opening October 2012. However, some tenets may open for business as early as August 2012.