CEO Larry Dillin told the trustees recently they are in the process of negotiating “a handful of contracts” with companies that want to be part of the development and interest has been high.
“We’ve gained traction with the real estate community and we’re getting even unsolicited proposals because we haven’t started the marketing campaign yet,” Dillin said. “I can tell you we have expressed interest in almost every acre of the development at this stage.”
Chief Branding Officer Cheryl Dillin told the Journal-News they are estimating the project value at $250 to $265 million and they are in active discussions with “corporate headquarters, there’s a collection of retail and restaurant uses, multi-family and hotels.”
She said they are working with FEMA, Butler County engineering and West Chester to deal with flooding issues due to the Mill Creek running through the property so the public-use park amenity and other infrastructure will likely be the first stage before buildings start appearing in 2023.
The property is in a prime location, very visible on the I-75 corridor between Cincinnati and Dayton, but the flood plain issues and dealing with the property owners have been a challenge according to township officials.
“There’s the classic issue of multiple landowners in there that have multiple ideas of how they would like to see the property developed,” Trustee Mark Welch told the Journal-News. “That’s kind of number one. The other part is Mill Creek runs right through there and it’s a flood way and you can’t develop in a flood way.”
Township Administrator Larry Burks said Dillin has managed to get the property owners on the same page.
“I’ve been here for going on four years and Larry Dillin is either the fourth if not the third developer that’s worked on this project and he’s the only one that’s been able to carry the ball this far,” Burks told the Journal-News.
The development is fluid at the moment but the plans show:
- Restaurant, retail and services: 87,000 square feet
- Office space: 500,000 square feet
- Gas station/convenience store: 5,000 square feet
- Multi-family residential: 870 units
- Hotel: 140 rooms
- Construction: Five phases to be completed in 2026
Dillin said there is still much work to be done on the project.
“These kinds of projects are massive, everything always takes a little bit longer than you wish it would,” he said. “But we’re not doing just a single site, it’s very complex and we have spend the time and think it through and get it right because we cannot afford to be wrong.”
The trustees approved the zoning map change from Central Business District to Special Purpose Planned Use Development District and the preliminary plans.
Final plans will be honed and need approval before the project can proceed. Trustee Ann Becker said this is the toughest piece of property to develop she has ever seen and she is glad it is finally happening.
“It’s a premier piece of property right along I-75 and our Union Centre business corridor, so once it gets developed I think it will be one of our premier sites,” Becker said.
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