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Newness could give The Heights an edge

The city of Huber Heights expects Monday to ink a $223 million agreement with a developer to build a major retail, commercial and entertainment complex north of Interstate 70 and in the area once dubbed

submitted The city of Huber Heights expects Monday to ink a $223 million agreement with a developer to build a major retail, commercial and entertainment complex north of Interstate 70 and in the area once dubbed "the road to nowhere." The Heights of Huber Heights is the third major commercial development announced in the Miami Valley in the past two weeks, but the first new one for northern Montgomery County. The Heights would be built in four phases and could create nearly 2,000 new jobs when completed, according to developers 201 Corridor Management LLC based in Dublin. It projects the development to be more than 750,000 square feet and would rival The Greene in Beavercreek that has 1.1 million square feet.

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By Tim Tresslar, Staff Writer 9:35 PM Monday, August 22, 2011

DAYTON — The newness of a retail and entertainment complex proposed for Huber Heights could give it a boost, a real estate industry observer said Monday.

Huber Heights City Council was expected Monday to consider a development agreement for construction of The Heights of Huber Heights, a $223 million retail, commercial and entertainment complex north of Interstate 70. The project proposed by Dublin-based 201 Corridor Management LLC is the third major local commercial development announced in recent weeks.

Consumers gravitate toward new developments, which should give The Heights a leg up against competitors in the northern market, said Mark Fornes of Mark Fornes Realty.

“The timing in that location (Huber Heights) might be pretty good,” Fornes said. “It doesn’t mean the population’s growing. It just means that the new development, well-executed, will normally beat all the older developments and a lot of the tenants come from the older developments.”

Kelly Gray, a vice president with commercial real estate firm Equity Inc., said the area targeted for development would need additional residential growth in order for the project to draw large retailers.

“You don’t have the rooftops there,” she said.

Additionally, at least right now there aren’t many retail chains looking for brand-new space in Dayton or the state, Gray said. While large discount chains are eyeing the area, many of them would want to move into an existing space, she said.

In the last two weeks, developers also have announced retail and residential development at Austin Landing and the $100 million mixed-use development, Cornerstone at Centerville, at the corner of Wilmington Pike and Feedwire Road.

Fornes said new retail slated for the Austin Landing area south of Dayton will benefit from the office and housing growth there, Fornes said. Housing growth in Bellbrook, Beavercreek and Sugar Creek Twp. could buoy Cornerstone at Centerville, he said.

“I think all three will fall into the category that new beats old,” Fornes said.

Contact this reporter at (937) 225-7317 or ttresslar@DaytonDailyNews.com.

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