$223M Development to Add Mixed-Use in Huber Heights
- Sep 02, 2011
Huber Heights will be home to the region’s next big retail and office development. A development team under the name Developer 201 Corridor Management L.L.C. has plans for a multimillion-dollar retail and office project called The Heights, a project expected to provide long-term help to the local, regional and state economies.
According to preliminary plans, the project at Interstate 70 and Brandt Pike will encompass 167 acres and feature 750,000 square feet of retail, restaurant, entertainment, hospitality, residential and office space. The Heights is expected to be unique to the area–a green, open-spaced, mixed-use development that could be just what northern Dayton needs.
The project will be delivered in four phases: first, a $33.5 million development featuring 30,000 square feet of inline neighborhood space; a 50,000-square-foot, 10-screen movie theater; a 7,500-square-foot restaurant; two 2,500-square-foot drive-thru restaurants; and two 32,000-square-foot retail stores. That will be followed by a $70.6 million development with two 110,000-square-foot retail stores, four 32,000-square-foot retail stores, two 7,500-square-foot sit-down restaurants and two 5,000-square-foot neighborhood sit-down restaurants. The third phase will be the most expensive of the four; the $87.8 million development will feature a 172,000-square-foot hotel and convention center, an 80,000-square-foot limited-service hotel and three 75,000-square-foot office buildings. Finally, $31.7 million will be invested to develop three 75,000-square-foot office buildings.
A total of $223 million will be invested in a project that, when finished, is expected to generate almost $1 billion in economic impact over the next 30 years. Annually, it will generate $31 million in tax revenue, $17.6 million of which would go to the state and $13.4 million would benefit the city of Huber Heights ($6.5 million), Huber Heights consolidated school district ($1.4 million) and Montgomery County ($5.5 million). It is also expected to create 2,175 jobs, including 200 temporary construction jobs.