EARLIER REPORT: Huber Heights land deal final, now city to determine what to do next
The city wants to eventually purchase a portion of the Marian Shopping Center in the 6100 block of Brandt Pike.
The purchase will be the start of project No. 2 for the Transformational Economic Development (TED) program, a program the city started in the fall of 2019. The city has budgeted $3.8 million to buy the land, perform market studies or environmental studies and other procedures that would prepare the site for redevelopment.
The city’s first project in the TED program was the purchase of 52 acres of land at the corner of Executive Boulevard and Brandt Pike. The city also hired a Chicago-based consulting firm to conduct a study to determine the best use for the land.
The city will likely do something similar with the Marian Shopping Center land, said Huber Heights City Manager Rob Schommer.
The goal of the TED will be to look at long-term growth and identify a source of revenue that will grow the economic base of the city.
Schommer previously told this news organization that this agreement and eventual purchase will allow the city to put the “first foot forward in starting redevelopment and new investment” in the Brandt Pike corridor.
The city has previously tried to buy this portion of the Marian Shopping Center. The city put down $20,000 of “earnest money,” but ultimately decided not to move forward with the purchase because land adjacent to the property was not available and an interested developer ultimately pulled out, Schommer said.
RELATED: Huber Heights puts $20k toward land purchase that ends without deal
Joo, per the consulting agreement, will recieve a 2% of the purchase price for whatever property is purchased.
About the Author
