Golden Bear Shopping Center $56M redevelopment will proceed, follow original plans

Arcadia Development of Ohio has agreed to revert to the original plans for the $56 million redevelopment of the Golden Bear Shopping Center in Upper Arlington, after the city “balked at” the developer’s request to “cut out the office space” in favor of more residential units, Columbus Business First reports. City Manager Steve Schoeny said “the city wouldn’t see a tax revenue benefit from the development without office space,” which “stalled any agreement on Tax Increment Financing that would be a cornerstone of the project’s financing,” according to the article. The original plans called for 20,000 square feet of retail space, 24,000 square feet of office space, and 79 condominiums. For more, read the full article.

Economic Development, Financial Incentives, State Updates