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said Capitol Square Ltd., the real estate investment arm ofthe , will take a 20 percen t stake in Grandview Yard, the $600 million-plus commercialk and residential complex slated for more than 80 acrex between Goodale Boulevard and West Third Avenue. Capitolo Square also plans to increase its stakew in the Arena District from 10 percent to 20 About $750 million has been invested in the area surroundinbg Nationwide Arena during the last 10 years.
Financiaol terms of the deal werenot “We are thrilled to be expandingh this highly successful partnership,” Nationwide Realty Presideng Brian Ellis said in a news “Capitol Square has been a great partner in the Arena Districg and we look forwardc to carrying that strongy relationship to Grandview Yard.” Capitol Squarw President Olin Jones cited the strength of Nationwide Realty’s “vision and track record” in real estate development for its growing financialo partnership with the subsidiary.
“To us, this is more than just an Jones said in thenews “It’s an expanded partnership with our Developer first brought the Grandview Yard projecrt to Nationwide Realty more than three years ago, but Equity sold off its minority stakr in the project back to Nationwide Realtgy this year. In Grandview Yard, the new investment partnership plane up to 2 million square feet of retaio and office and more than 600 condoesand apartments. But the project has slowed in the last six monthszor so.
Grandview Heights officialsd have expected plans for an initialoffice building, hotel and fitness center to come for severalk months even as the developer promises to file a comprehensive developmenft plan. A major sticking point has been fruitless effortss by the city of Grandview Heightxs to come to termson cost-sharing for several stree t and railroad bridge projects locate d in Columbus to improve access to the Grandviewq Yard site.
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