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New Development Announced for Downtown Columbus
Thursday, February 26, 2004
Landmark Development Announced for Broad and High Streets, Downtown's Historic Crossroads
Columbus, Ohio — Casto announced tentative plans today for a major mixed-use development on the corner of Broad and High Streets which would transform Columbus's historic downtown northeast corner into an exciting, dynamic hub of activity worthy of a 21st century city. The plans were announced by Columbus Mayor Michael B. Coleman during the State of the City address at the King Arts Complex. Development plans include luxury condominiums overlooking the State Capitol, ground-level retail, specialty offices, and a stunning, visual array of scrolling, lighted digital ticker-tapes, billboards and gardens atop the four-story building that fronts downtown's major intersection. The development envisions the complete renovation of two buildings ? the four-story Roy's Jewelers building at the corner of Broad and High Streets and the 16-story high-rise at 8 East Broad Street. Plans also call for the construction of a new five-story building on North High Street adjacent to the Roy's Jewelers building. The buildings at 18 and 20 North High Street would be demolished. Designed by Frank Packard, one of America's foremost, turn-of-the-century architects, 8 East Broad Street would become 8 on the Square ? downtown's most prestigious address for living with 15-26 penthouse and mid-rise luxury condominium homes. Reserved parking would be located behind the building in a newly created courtyard for residents. The new homes would range in size from 1,400 (half floor) to 2,800 (full floor) square feet and would offer spectacular views of downtown and the Statehouse. The old Roy's Jewelers building would be completely renovated, anchoring the corner with a windowed fašade designed for high visibility retail. Dramatic, glass cantilevered space, ideal for broadcast studios, would offer a window on Broad and High. A first-floor lobby would connect the restored building to a new, five-story building to be constructed next door on North High Street. The new building would house ground-level retail and specialty offices in the higher levels. "Casto is very excited about the opportunity to breathe life into this corner," said Casto partner Bill Riat. "This is the center of our city and our state ? an historic crossroad. We envision a vibrant, one-of-a-kind development that takes advantage of its landmark location, adding vitality and drama to downtown Columbus. Our next step will be completion of feasibility studies including finalizing cost estimates and condominium pre-sales and office pre-leasing, which will help us determine the market viability of this project." Casto is a full-service, fully integrated real estate company that has been based in Columbus, Ohio for more than 75 years. Casto has grown from a developer of quality, single-family residences to a third-generation portfolio that includes more than 19 million square feet of commercial space, 7,000 multi-family homes as well as office and industrial properties, restaurants and hotels in Ohio, Florida, Pennsylvania, Indiana, Illinois, California and Alabama.

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