{"id":1004052137,"date":"2012-04-17T05:19:31","date_gmt":"2012-04-17T13:19:31","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=43779"},"modified":"2020-04-13T11:34:09","modified_gmt":"2020-04-13T19:34:09","slug":"work-finally-starts-on-rookwood-exchange","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/work-finally-starts-on-rookwood-exchange\/","title":{"rendered":"Work Finally Starts on Rookwood Exchange"},"content":{"rendered":"

By Adrian Maties, Associate Editor<\/p>\n

After years of planning and setbacks, work finally started last week on the Rookwood Exchange development, the $100 million mixed-use project at the Smith-Edwards exit on Interstate 71, in Norwood, Ohio. The 12-acre project has been in the works since 2003. Plans were held back by a controversial domain battle as well as the recession.<\/em><\/p>\n

Officials from the city of Norwood and \"\"<\/a><\/em>the project development team celebrated the gr<\/em>oundbreaking on April 9. Among those present at the ceremony were Tom Williams, mayor of the city of Norwood; Jeff Anderson, the founder, CEO & president of Jeffrey R. Anderson Real Estate Inc.; Mike Brandy, president of Brandicorp; and Mike Prescott, U.S. Bank\u2019s Cincinnati market chief.<\/em><\/p>\n

The first step of the project is the construction of a new 123-room Marriott Courtyard hotel. It will be located across from J. Alexander’s restaurant. Plans also include a 750-space parking garage, a 15,000-square-foot retail building along Edwards Road and a 230,000-square-foot office building with retail on the first floor. Two 9,000-square-foot <\/em>restaurants are also planned for the first phase of the project. The project developer, Jeffrey R. Anderson Real Estate Inc., is negotiating with Capitol Grill and Seasons 52.<\/p>\n

Anderson is working on the $20 million, 85,000-square-foot Marriott Courtyard hotel,\u00a0together with Bellevue-based Brandicorp. The hotel is scheduled to open in spring 2013. The same opening date is set for the two restaurants.<\/p>\n

A 16-screen movie theater was supposed to anchor the project. But that deal recently fell through. The developer decided to build the office and retail building <\/em>instead. Work on this part of the project and on the parking garage will begin next year.<\/p>\n

The city of Norwood has agreed to provide $25 million in tax increment financing to pay for the parking structure and surface lots, as well as traffic improvements and a new traffic <\/em>light on Edwards Road. U.S. Bank is financing the project. Schumacher Dugan Construction Inc. is overseeing construction work.<\/p>\n

Image courtesy of <\/em>https:\/\/www.anderson-realestate.com<\/em><\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By Adrian Maties, Associate Editor
\nAfter years of planning and setbacks, work finally started last week on the Rookwood Exchange development, the $100 million mixed-use project at the Smith-Edwards exit on Interstate 71, in Norwood, Ohio. The 12-acre project has been […]<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1583,21742],"tags":[],"class_list":["post-1004052137","post","type-post","status-publish","format-standard","hentry","category-cincinnati","category-latest"],"acf":[],"yoast_head":"\nWork Finally Starts on Rookwood Exchange - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/work-finally-starts-on-rookwood-exchange\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Work Finally Starts on Rookwood Exchange\" \/>\n<meta property=\"og:description\" content=\"By Adrian Maties, Associate Editor After years of planning and setbacks, work finally started last week on the Rookwood Exchange development, the $100 million mixed-use project at the Smith-Edwards exit on Interstate 71, in Norwood, Ohio. 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