Continental Real Estate Companies is hoping to build a 100,000-square-foot medical center in Upper Arlington’s Kingsdale development that it will lease to Ohio State University’s Wexner Medical Center.
In a press release today, City Manager Theodore Staton called the proposal “a great opportunity to bring a high-quality facility to Kingsdale.”
Final terms of the agreements among the city, the medical center and Continental still need to be determined and receive approval from Upper Arlington City Council, the OSU Wexner Medical Center board and the OSU board of trustees over the next two to three months.
According to the press release, officials hope to open the $20-million facility in late 2015 or early 2016.
Gail Marsh, senior associate vice president at Ohio State, said the Medical Center plans to initially use 80 percent of the space with the rest reserved for future expansion.
When completed, she said, the Upper Arlington facility will employ 155 people.
Those employees are expected to generate more than $320,000 annually in municipal income taxes, while the property will account for about $350,000 in local property taxes each year.
For more on this story, see the June 5 edition of ThisWeek Upper Arlington News.