The Edwards Companies, a Columbus development firm, is planning a building overlooking the Ohio Statehouse as part of a nearly $600-million overhaul of several Downtown blocks, a project the company calls the Capitol Square Renaissance Project.
Edwards is planning the 10-story, 530,000-square-foot building on South 3rd Street north of East State Street, occupying the last large empty lots on Capitol Square.
According to information submitted to the state, the building would extend from East State Street to the former Columbus Dispatch building at 34 S. 3rd St. and include ground-floor retail and restaurant space along with a park next to the former Dispatch building that would be accessed through the facade of a long-vacant bank at 66 S. 3rd St.
That building brings the scope of the total Renaissance project to five buildings and 1.85 million square feet over 10 acres on six city blocks, an area bounded by East Broad Street, South 4th Street, South 3rd Street and East State Street.
The project would include several elements, many of which are well underway or have been announced:
The buildings would be linked by Preston Park, an elevated landscaped walkway inspired by New York's Highline, that rises over South 4th Street. Work is well underway on the walkway.
Even though the Preston Centre is largely complete and work is far along on two other components, Edwards Companies suggested to the state that the full project is in doubt without state help.
To see the project through, the company applied for $33 million in state Transformational Mixed-Use Development Program tax credits.
"As the largest mixed-use development ever pursued in downtown Columbus at nearly 1.9 million square feet covering nearly 6 city blocks, and with numerous public placemaking components of undeniable community benefit, it is necessary to seek public support," the company wrote in its application for the funds.
"Without the required TMUD tax credit award, this development will not move forward," the company stated.
The company said the development would "transform" Downtown and especially the Capitol Square area, which continues to suffer from office workers working from home after COVID.
"Parts of the Central Business District are floundering," the application continued. "One area in particular continues to struggle -- the heart of "The Heart of It All" -- Capitol Square. Our spectacular State Capitol Building is surrounded by many buildings suffering from disrepair and neglect and its eastern flank is dominated by empty surface parking lots. ... The Capitol Square Renaissance Project, if successful in our pursuit of TMUD credits, will turn the tide."
In its application, Edwards Companies noted that work has already begun on the development, and that work would be completed in 2030 if the tax credits are approved.
The Edwards Conpanies has been the most aggressive developer to remain in the heart of Downtown after COVID. In addition to the developments included in the Capitol Square Renaissance Project, the company has developed or renovated several buildings along North High Street near Gay Street.
Company CEO Jeff Edwards has been a leading voice in the importance of Downtown development and has helped spearhead the Capital Line walkway through a two-mile Downtown loop, which is expected to start next summer.