First tenants at Grandview Yard unveiled - Triangle Business Journal:

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Plans filed with the city July 7 show developer Nationwide RealttInvestors Ltd. wants to build the firsft $40 million worth of projectws as it continues planning forthe broader, $500 millionb to $600 million redevelopment on 90 acres in the suburb’ws industrial core. The city’s planning commission will consider the HyattPlacwe hotel, Urban Active fitness center and a plannedc Jason’s Deli in the office building as conditional The preliminary and final development plan must go througb the commission as well as Grandview Heights City Council.
Dublin-based M&A Architects, the designer of the three-story office building, plans to occupyg at least 20,000 square feet on the top The plans mark the first projectzs presented to the city for approval sincw Nationwide Realty first bega n acquiring the former Big Bear Stores Co. distribution complex and surrounding properties inMay 2006. In conjunction with the real estate projects, Grandview Heights City Council at its July 6 meetinbg heard a first reading of a developmenrt agreement between the city andNationwide Realty.
The resolutiobn outlines how the city will payfor $78 milliohn in road improvements and utilities insidd Grandview Yard and another $41 million in off-sitw public improvements. Other legislation in support of the developmenrt agreement is expected to be introduced as early as a speciaol July 13council meeting. Constructionh on the three buildings and the first phase of road and utilitu projects could begin as early aslate August. The hotel and fitness center should open infall 2010, said Nationwide Realty President Brian Ellis. “We shoul be pretty well positioned to get the project he said.
The city’s mayor welcomed the sign of progressd despite the tougheconomic “Getting something out of the ground,” Mayo r Ray DeGraw said, “will attract attention and more people.”