Joe Ciminello thought he would be finished with the Pinnacle housing development in Grove City last year, but he still has 93 unsold estate lots.

Editor's note: When the Pinnacle residential development was approved by Grove City officials in 2004 it was hailed as a project that would redefine the community. Did it live up to the promises? This is the third in a series of four articles examining Pinnacle and its impact on Grove City.

Joe Ciminello thought he would be finished with the Pinnacle housing development in Grove City last year, but he still has 93 unsold estate lots.

Ciminello owns Pinnacle Development Co., which broke ground for the 620-acre Grove City project in 2004. While 135 estate lots were planned for Pinnacle's two prime subareas, only 42 have been developed to date. Now he predicts it will take several years to develop all of those lots.

While 2006 and 2007 went according to plan, Ciminello said he didn't sell a single lot in 2008. He sold eight lots in 2009 and sales continued at about the same pace in 2010.

"It just didn't go as we had planned," he said. "We would like them to sell a little quicker."

Since the market isn't as strong as when the project began, Ciminello took 14 of those remaining 93 lots and rezoned them for 28 empty-nester houses in 2011. Those ranch-style homes, on smaller lots, will be sold at a less expensive price per home. He said he plans to market them this year.

"It is an adjustment for the market," he said.

Ciminello also plans to develop another subarea sometime this year that will feature 20 condominiums. The condominiums will be about 2,000 square feet in size with a price range of mid $200,000 to mid $400,000. These homes also will be geared toward empty-nesters, with mostly first-floor living.

A comparison of M/I Homes' plans to the number of properties sold shows the company has experienced varying degrees of success with its Pinnacle subareas:

• The Manors has a goal of 45 single-family homes. Only one is under contract, and 11 have closed.

• The Links has a goal of 138 medium-sized, single-family homes with 14 under contract, and 10 closed.

• The Landings had a goal of 168 small, single-family homes. All have been sold.

• The Greens has a goal of 505 neo-traditional homes with 287 under contract and 268 closed.

A Nov. 3, 2005, article in The Record detailed Gahanna-based developer Mo M. Dioun's plans for the Mews at Pinnacle. Dioun, president of The Stonehenge Co., said the development would include 23 condominium buildings; a total of 83 units were expected to cost between $200,000 and $400,000 each.

The Mews was to incorporate three building types: a four-unit structure with a total building area of 9,377 square feet; a four- unit structure with a total of 9,852 square feet and a three-unit structure with a total building area of 7,116 square feet.

Dioun did not return calls from The Record seeking comment for this series.

Grove City chief building official Mike Boso said the Mews is approved for 23 buildings with a total of 75 units. So far, eight buildings with a total of 23 units have been constructed, he said.

Next week: Economy halted Virginia Homes' Pinnacle plans.