I am pleased to share exciting news regarding the City's strategic land acquisition of approximately 243 acres in the West Innovation District. This investment, valued at $44.6 million, encompasses SportsOhio, Shepherd Excavating, Carter Farms and includes parcels in Franklin and Madison counties.
Courtesy of the City of Dublin
Megan O'Callaghan Dublin City Manager
This acquisition represents a significant milestone in advancing City Council's strategic framework and visionary goals, as well as the Envision Dublin Community Plan, Economic Development Strategic Plan and Parks and Recreation Plan. The additional land provides us with new opportunities to advance our economic development initiatives, enhance transportation and expand recreational amenities that benefit our community.
A crucial aspect of this acquisition is that the largest parcel to the east will enable the completion of University Boulevard, which will further improve north-south connectivity, extend public utilities, and unlock additional economic development potential in the West Innovation District. These efforts are aligned with our goal of positioning Dublin as a city of choice, attracting businesses, visitors and investors alike.
Moreover, this acquisition holds great promise for further establishing Dublin's future as a premier sports destination. By leveraging both Darree Fields and SportsOhio, we aim to create enhanced indoor and outdoor athletic facilities and programming that will serve our community's needs while hosting regional and national sporting events. This vision reinforces our commitment to offering top-tier recreational amenities.
In the meantime, SportsOhio has agreed to manage the facilities in a manner that is generally consistent with current operations for up to one year following the closing. This period will allow the City to understand the current operations better, assess any immediate maintenance needs, and identify a timeline and budget to transition to municipal operations. In the longer term, the City plans to utilize a sports management company to oversee the complex's operations, ensuring financial sustainability. The OhioHealth Chiller, which is owned and operated by the majority owner of the Columbus Blue Jackets, is not part of this acquisition and continues to operate its ice sports and recreation programming.
The Shepherd Excavating parcels will be leased back to the seller for up to four years to allow time to relocate the existing business. The adjacency of these parcels to Darree Fields and SportsOhio could develop into additional recreational opportunities, businesses that support such operations, or provide for a maintenance facility to service the recreational amenities.
In addition to recreational enhancements, the Carter Farms parcels also present an exciting opportunity to plan for future economic development and multimodal transportation. Combined with land the City already owns to the east, this area is positioned for the long term as a prime location for a future passenger rail station as part of the regional public-private effort to reconnect Central Ohio to the nation’s passenger rail network, including the Midwest Connect corridor from Chicago to Pittsburgh.
Additionally, the railroad represents a significant asset for many types of development, and the City could negotiate with an employer to secure a development on this land. In the meantime, these parcels will continue to be farmed, which allows the City to qualify for lower property taxes.
Our collaborative efforts will ensure this investment is fiscally responsible. We are financing the purchase from the City's general fund and parkland acquisition fund, with the debt projected to be retired in three to six years, depending on income tax revenues.
This strategic acquisition marks a significant step forward in Dublin's growth and reinforces our long-term vision for a vibrant, connected, thriving community. Thank you for your continued support and engagement as we work together to shape the future of our city.
Sincerely,
Megan O'Callaghan
Dublin City Manager
