“It will secure additional job opportunities for the area,” Gunlock said of the building.
The shell of the structure is estimated at $7 million. Interior improvements are expected to increase its value to $15 million when completed, Gunlock said.
“This is a state-of-the-art facility that’s going to be over a $3 million park,” Gunlock said.
With work starting on the office/retail building, commercial construction near the Austin interchange in Miami Twp. has topped $27 million this year, officials have said. Austin Landing may be experiencing its busiest building year since the interchange opened in 2010 and next year is going to be “an incredibly busy year,” Laubie said.
Developers said they are moving ahead with plans to add a four- to -five-story residential building featuring studio, and one- and two-bedroom units.
The building, planned just south of the Hilton Garden Inn, is expected to have 274 units, said Kyle Hinkelman, Miami Twp. assistant planning and zoning director. While cost estimates were not available, the building is expected to cover 4.33 acres and encompass 242,000 square feet, he said, noting that units will range in size from 500 to 1,100 square feet.
Plans call for two interior courtyards and a four-story parking deck attached to the building, Hinkelman said. Officials hope to break ground on the project this year, Laubie said.
The building, Laubie said, will be constructed, owned and operated by The Fortus Group, a residential developer which has offices in Cincinnati and Fort Wayne, Ind., according to its website.
Additionally, officials are looking to present plans to Springboro for development on the south side of the Austin Boulevard/Ohio 741 intersection, Gunlock said. Gunlock said he hopes to “put a plan in front of” Springboro officials within the next two months.
“Certainly this year,” he said, declining to elaborate on the plan.