Tuesday, November 10, 2009

Ridge Pointe site declared safe for building

The Ohio Environmental Protection Agency (Ohio EPA) has declared the 10-acre site of the former Columbia Township K-mart as suitable for commercial and industrial use, paving the way for a $21 million mixed-use development called Ridge Pointe.

Owners Ridge K, LLC, composed of Dan Neyer of Neyer Properties and Steve Miller and Rob Smyjunas of Vandercar Holdings, have been issued a covenant not to sue under the Ohio EPA's Voluntary Action Program, releasing them from liability for additional investigations or remedial activities related to petroleum-tainted soils and contaminated groundwater beneath the site.

The project's first phase, the renovation of the former department store, would alter the fa├žade and shrink the building's footprint to create 68,000 square feet of LEED certified office/warehouse flex space.

In future phases, the outlots would include a 30,500-square-foot, two-story LEED certified office building on the north side of the site, a 10,500-square-foot retail building on the south side of the site, and a 14,000-square-foot retail building along Ridge Avenue.

Surface parking would provide 383 spaces.

Neyer Properties currently is working with the township and the Port of Greater Cincinnati Development Authority on a 30-year, 100 percent tax increment financing (TIF) plan to pay for more than $2 million in public improvements at the site.

In the 14 years since the Ohio EPA began administering the VAP, more than 4,350 acres of blighted land at more than 250 sites has been remediated.

Image credit: Neyer Properties

Previous reading on BC:
RZC to consider $21M Ridge-Highland redevelopment (2/17/09)