Developer Selected for North Market Redevelopment
Mayor Andrew J. Ginther announced this morning that the development team of Wood Companies/Schiff Capital will lead the efforts to redevelop the North Market site. The developers will transform the 138-space parking lot into a 35-story mixed-use skyscraper that will include a new public outdoor plaza, a public two-story grand atrium and 291 additional public parking spaces. The development will preserve the existing North Market building and provide greatly enhanced indoor and outdoor public spaces for the North Market.
“This is an exciting opportunity to maximize the space currently being used for parking into a multi-use development that will spur growth for the North Market, while preserving its historical presence,” said Mayor Ginther. “We’re excited to get the community’s feedback and work out the details.”
Last year the city began a Request for Proposals (RFP) process with three goals: Enhance the North Market and provide it with long-term, sustainable, structure; preserve the cultural integrity of the North Market before, during and after redevelopment of the parking lot site; and address operations needs of the North Market during development. The city received seven proposals.
The Wood Companies/Schiff Capital’s proposal met those goals, and the developers will invest more than $100 million into the project.
“We want to make every corner of Columbus the best it can be. I look forward to continuing the conversation with residents and businesses about maximizing the potential of and transforming the existing parking lot into a thriving addition to the downtown landscape,” said Councilmember Michael Stinziano.
The North Market is an historic public market, operating since 1876. It has been housed in its current location, a former warehouse owned by the City of Columbus, since 1995. The North Market Development Association (NMDA) operates under a lease agreement with the City of Columbus. The city will transfer the current building and new public spaces to NMDA and the surface lot to the developer.
“First and foremost, this project ensures the market perpetuity and countless new amenities for our merchants and guests. History can and will be preserved,” said Rick Harrison Wolfe, Executive Director, North Market. “The North Market has been and needs to continue to be an evolving institution to stay relevant and prosperous. Cheers to the future.”
“It is extremely exciting and a huge privilege to partner with the City of Columbus and the North Market to create a project which will enhance and preserve the future of the North Market and create what we envision to be an incredible addition to the neighborhood and the City of Columbus,” said Michael Schiff, president , Schiff Capital Group.
A series of public meetings will be held to garner input into the project. Construction is set to begin in 2018.