HILLIARD, Ohio (WCMH) — The vacant Hickory Chase development, located on Davidson Road in Hilliard, is back on track.
The 86-acre development, which includes a senior living complex and 60,000 square foot community center, has sat empty since 2009 when the previous developer went bankrupt.
Monday night, the Hilliard Board of Education voted to accept a compensation agreement with the city of Hilliard. The vote allowed city council, which met at the same time, to approve a tax-increment-financing district of Hickory Chase. A TIF is an economic-development tool used by local governments to finance public-infrastructure improvements, like roads.
Greenwich Investors Hickory Chase is the new developer for the property. The California-based company purchased the property in 2013 for $8.5 million.
Todd Lyle, director of operations, said the building is in great shape.
“I would say it’s eighty-five percent done,” said Lyle. “We have been absolutely blessed with the condition the building was kept in prior to our involvement. And we have worked hard to maintain that.”
Greenwich Investors want to develop much of the 86 acres. Their initial plans include some retail space and apartment complex.
“There is a multi-family unit component which fronts Leap Road. And the senior component, which was originally contemplated to be about 1,750 units, will have senior component with all the amenities,” said Lyle.
Hilliard leaders will purchase the 60,000 square foot community center and then lease it to the Columbus Metropolitan Library.
“They are now looking into taking this community building and moving the Hilliard branch from where it is currently on Cemetery Road,” said city spokesperson Doug Francis.
Final plans for the property have to be approved by city council. Lyle said Hilliard residents should start to see some progress on the outside in 2016.
“The citizens of Hilliard, they’ve seen this moth-balled for a long time,” said Lyle. “They want the right development, done the right way.”