Conceived more than five years ago by Cincinnati builder Allen Zaring III and his son-in-law Andrew Vecellio, the $300 million Renaissance development at the southeast corner of Union Road and Ohio 122 envisions more than 300 upscale homes, 400 condominium units and 80 acres of office and commercial space being built in the next decade on 300 acres of farmland.
About 65 single-family homes have been sold at prices starting about $300,000, and the first two of five office condominiums in the first phase of the Renaissance Professional Village have been completed and are ready for sale. Plans for the office condominium project call for up to 27 of the 10,000-square-foot brick buildings, which include attached garages for the owners, Vecellio said.
He said Monday that one of the 10,000-square-foot buildings is under contract, though he couldn't reveal the prospective buyer. He said he hopes to begin construction on the other three office condos in the project's first phase in 2008.
Future plans call for a possible hotel-conference center, additional retail and other office buildings.
"There's a lot going on," said Chris Dobrozsi, development director for Al Neyer Inc., which put together the 25-year city master plan for the medical center and controls about 100 acres of city land for development. "Until now, people haven't fully understood what's happening there."
Neyer expects to break ground in the spring on a two-story office building on the south side of 122, east of Union Road. Original plans were for a 40,000-square-foot building, but the building's size might be expanded to 50,000 square feet based on preliminary interest, he said.
"We're seeing a lot of interest based first on the hospital and second on the central location between Cincinnati and Dayton," he said.
Bill Murphy, Middletown's economic development director, said development inquiries have increased about 50 percent in the past six months as Atrium Medical Center, which replaced Middletown Regional Hospital, was being completed.
"As the hospital has taken shape, people can see it is a reality," Murphy said.
Vecellio and Zaring saw the potential of the site even before the hospital committed to the area.
"We felt it made sense even without the hospital because the location is visible from I-75 and is midway between Cincinnati and Dayton," Vecellio said.
Besides the $195 million hospital, more than half a dozen other buildings are either under construction or planned for what's known as the Premier Health campus, including a new YMCA, a five-story medical office building, a two-story cancer center, an outpatient surgical center, a children's specialty care center, a health sciences training facility and senior housing.
In addition, a new CVS Pharmacy, designed to fit with the medical center's architecture, is planned for the southwest corner of Union Road and Ohio 122, and the city expects to unveil its new identity for the area - similar to what West Chester Township has done at the Union Centre Boulevard interchange with I-75 - in early January.
Murphy said the hospital's opening is the first hurdle to unlocking the area's long-term development potential. The next steps, starting in 2009, are widening I-75, the reconstruction of the interchange with Ohio 122 and widening of the highway past the medical complex.
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source: enquirer.com
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