Flaherty & Collins Breaks Ground on $250M Phase I of The Peninsula Mixed-Use District in Downtown Columbus, Ohio
COLUMBUS, OHIO — Flaherty & Collins Properties has broken ground on Phase I of The Peninsula, a $500 million mixed-use redevelopment of 27 acres of land along the Scioto River in downtown Columbus.
The $250 million first phase of development will include ONE at the Peninsula, an $85 million apartment complex featuring 12,000 square feet of ground-floor retail; an eight-story, 232,000-square-foot speculative office building; and a 132,000-square-foot, 197-key independent hotel.
First National Bank of Omaha, First Merchants Bank and 50 East Capital are financing construction of the apartment property. The community will offer shared amenities including an 11th-floor sky deck with a swimming pool; a rooftop clubroom with a community kitchen, bar and gaming space; an outdoor grilling patio; a private gated courtyard; pet spa; and a fitness center with space for yoga and virtual fitness classes.
Columbus-based Daimler Group Inc. is developing the speculative office building and Rockbridge is developing the hotel project. A timeline for Phase I of the development was not announced.
The City of Columbus plans to issue $30 million in bonds to finance the construction of two parking garages totaling 1,400 spaces to serve the development. At completion, The Peninsula will feature 2 million square feet of office space, 1,800 units of residential space, up to 400 hotel rooms and up to 200,000 square feet of retail space.
— Katie Sloan