WHY PARSONS AVENUE
Parsons Avenue is the
historic commercial spine of Columbus' South Side, stretching two
miles south of Nationwide Children's Hospital to the Southern
Gateway redevelopment area just North of Route 104. With an eclectic
mix of buildings, people, and neighborhoods, Parsons Avenue has
sustained landmarks like
and Pizzeria (established in 1939) , attracted new local
Tatoheads Public House, The Eisen at Whittier Street, and a
new Columbus Library Branch. The thoroughfare continues to inspire
future progressive development.
Redevelopment has been accelerating at an all-time high on this
corridor and throughout the adjoining residential neighborhoods.
Historic homes are being renovated in adjacent neighborhoods
attracting home buyers that appreciate the charm of older properties
and property owners are renovating their rentals to a level
targeting tenants with higher disposable income. This is creating a
demand for commercial development on the Parsons Avenue corridor
that can cater to a wide range of demographic households.
Projects like Village Pointe, a three-story mixed-use building with
retail and fitness center have been completed and Panera Bread is
set to open across the street soon. The Barrett Apartments
redevelopment featuring luxury homes, apartments and condominiums
will be completed soon. With momentum building, investors are
looking anew at Parsons Avenue. With a great variety of buildings,
big and small, ripe for creative redevelopment in retail and
housing, Parsons Avenue continues to redevelop and offers reasonable
priced locations for new business owners to finally bring their
dreams to life!
1. DENSITY + GROWTH = RETAIL OPPORTUNITY: 23,000 people
currently live in 9,750 households within a mile east and west of
Parsons Avenue corridor. They are forecast to surpass 25,000 people
in 10,500 households by 2020. The market for non-automotive retail
goods and services is $200 million a year currently, growing by $3-4
million a year.
2. REAL NEIGHBORHOODS: One of Columbus' most ethnically
diverse communities, includes authentic, historic districts such as
German Village, Merion Village, Schumacher Place, Hungarian Village,
Vasser Village, and Ganthers Place
3. ECLECTIC AVENUE: Heavily traveled two-mile corridor is
home to both corporately owned and independent businesses that offer
everything from beauty supplies, auto parts, Tee Jaye's Barnyard
Buster breakfast platters to Plank's Pizzeria.
4. ON THE NORTH: Ongoing $840 million expansion of Nationwide
Children's Hospital at Livingston Avenue draws new retail uses (CVS,
Scrambler Marie's, Panera) to north end of corridor with 37,000 SF
Village Pointe including Fitness Loft, Strut hair salon, Alchemy
coffee/juice bar, and a gastro-pub.
5. MIDWAY: The Barrett Apartments, The Eisen, Community
Grounds, Bikes for all people, Tatoheads Public House, The new
Columbus Library Branch.
6. SOUTHERN GATEWAY: City of Columbus and "South Side
Champions" (prominent families and non-profit groups) have invested
$25 million into John Maloney Health and Wellness Center,
rehabilitation of former Reeb Elementary School into a new
multi-purpose community center, new housing, and street repairs in a
nine-block area at the southern end of the Parsons Avenue corridor.
The recent sale of Columbus Castings represents potentially over 70
acres of prime real estate slated for commercial redevelopment. And
of course, our redevelopment of the historic Engine House 14.