This development continues to be hugely successful, ahead of schedule in all areas.
Commercial space is 91% leased, with Crawford-Hoying likely to expand office square footage, possibly to 840,000 sq. feet, well above the 350,000 in the initial plan! That of course is excellent for Dublin's revenue stream, with the workers all paying our 2% city income tax.
Condos: all 41 condos in Bridge Park West, near The Avenue, are sold and occupied. Looking now at the east side of the river, of the 22 condos under construction behind the building that will have the North Marke,16 have already sold. You may have read in the Dublin News about The Warren, a new building under construction to open in 2020 with 43 condos. 6 contracts have been signed in just the past 2 weeks. This is a 6 floor building which will have retail on the first floor and offices on the second.
Apartments: 90% of 380 completed units are leased. This includes 3 of the 4 apartments in the Bridge Park West building across from The Avenue that will contain the newest Cameron Mitchell restaurant, The Pearl. Another 145 apartments will complete by next Spring, bringing the total to 525.
Hotel: to the east of Local Cantina, Crawford Hoying is adding a Marriott Spring Hill Suites, expected to open late September 2020, which will add 126 additional hotel rooms. That building also contains approximately 8,000 sq. feet of ground floor retail/restaurant space for lease.
Summarizing, by the end of next year Bridge Park East and West will have 106 condos, 525 apartments, 165,000 sq. feet of restaurant/retail space and 340,000 sq. feet of office space.
Other new restaurants: Urban Meyer's Pint Room, replacing RAM, is to open later this month. Sweetwater Coffee and Tea, which has a location in Bridge Park, will open a second Dublin location in the lower level of the new Library in October. It will open at 7a.m, 2 hours earlier than the library, with access through a door from North High Street. Frank and Carl's, a sandwich shop across the street from Pins will open in early November.
The North Market at Bridge Park will open next year. It will not replace the current Dubin Farmers' Market, which will continue in the street adjacent to the North Market, shifted a block to the north of its current location next year, still on Longshore St.
Arena: the 4,000-5,000 seat Arena and home for the Ohio Basketball Hall of Fame proposed for Bridge Park is expected to get another look from Council during a Work Session late September or early October. This would serve regional sporting events and studies show it would likely generate many room nights in Dublin hotels, business for restaurants and retail, and a consequent boost to City revenue from the hotel room tax. It is expected to generate an additional $1.25 million annually in tax revenue. The developers are asking for financial investment from the City Council for this project.
Tuller Flats Apartments:
This is the large collection of townhouse-looking apartments plus clubhouse and pool along John Shields Parkway and Tuller Rd. As of today construction of all 420 units is complete and they, too, report hugely successful occupancy -- almost 95%! Just 24 units remain. Their company, Casto, does own the adjacent land to the east, up to the AMC Theaters, but have no current plans underway for building there. 70% of those units are 1-bedrooms, with all 30% of the remaining units being 2-bedrooms. There are no 3 bedroom apartments, hence very few children.
School DIstrict Impact:
The Dublin School DIstrict has as of today's date added just 24 students to its rolls from the combined area. This is in keeping with pre-construction forecasts. The Crawford-Hoying area is paying the school district $1.5 million annually now in return for the TIF, about ten times more than the schools were getting from the former strip mall, golf range and restaurant that occupied the land.