City may pay $3.3 million for 3.8 acres at Riverside-161
Land in Bridge Point Center could bring Dublin's plan for a riverside park and pedestrian bridge to fruition.
Dublin City Council this week heard the first hearing of a land acquisition deal that would bring 3.8 acres from Bridge Point Center into city ownership for $3.345 million. Dublin City Council is expected to vote on the land acquisition at its next meeting May 20.
The acquisition of the 3.8 acres on Riverside Drive and an additional 1.3 acres of previously occupied roadway would give Dublin room to install a roundabout at the intersection of Riverside Drive and state Route 161 and realign Riverside Drive north of the intersection.
The realignment would also put plans announced at Dublin's state of the city address in March into motion.
As part of the Bridge Street District, the city hopes to add parks along both banks of the Scioto River and a pedestrian bridge to connect them.
Crawford Hoying LTD recently entered into a purchase agreement to buy the 10.994-acre strip mall at the northeast corner of Riverside Drive and state Route 161.
The company approached Dublin about purchasing the land for planned projects, Terry Foegler, director of strategic initiatives and special projects told council members Monday.
Almost four acres of land is needed from the shopping center for the roundabout and road realignment.
If approved by council, the city will shell out nearly $1 mill per acre for the deal, but Foegler said the shopping center will be "severely impacted" by the road realignment.
A Tim Hortons, Planet Fitness, Columbus DanceArts Academy and few other businesses currently occupy the center.
An unoccupied outbuilding that previously held a dry cleaning business is part of the 3.8 acres in the land acquisition deal.
The real estate purchase would also greatly limit parking and bring the relocated Riverside Drive a few steps from some parts of the shopping center.
Dublin has not yet set a timeline to construct the roundabout or relocate Riverside Drive, but Foegler said the projects are likely to be part of an upcoming update of the five-year plan for projects around the city.
"There's no schedule, but we're moving forward on plans," he said.
The real estate deal includes a lease agreement that would allow the current businesses to continue to operate until construction begins.
The agreement before council also gives the city the option to purchase the additional land of Bridge Point Center if it wants to, Foegler said.