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Huber Heights wants to sell 10.5 acres of city-owned land near its new $18 million music center, property that could become restaurants, retail and office space near Interstate 70.
The land is valued at up to $300,000 an acre, with an outlot on Executive Boulevard consisting of 3 acres and the other 7.5 acres near the Brandt Pike/Executive intersection.
Huber Heights City Council approved a 24-month listing agreement with Oberer Realty Services Ltd. late last month, and marketing signs are being placed at the parcels, said Chris Conley, president of Oberer.
“First of all, they have contacts in the business,” Huber Heights assistant city manager Scott Falkowski said. “They know who works well in certain areas. They also know the value of the land, and they have a good understanding of how much you should charge for land.”
The city faced no upfront cost to enter into the listing agreement, Falkowski said. Oberer would receive six percent commission of a sale, according to the agreement.
The sale price of the land projects to be between $60,000 to $300,000 per acre, depending on the location or other terms and conditions, the agreement said.
“They’re looking to get the best users they can, and we’re probably the best suited in town to handle it for them,” Conley said.
Conley said the three acres between GoodSports Enterprises' $22 million fieldhouse/hotel and Meijer is a good location for a restaurant. He said a mixed-use of offices, restaurants and retail would be ideal for the city's larger parcel.
Oberer is marketing another 50-plus acre site in that same area, Conley said.
Falkowski said the city would like to sell the land “as soon as reasonable.”
“We feel that it’s definitely very marketable right now,” he said. “There’s so much going on right now with the music center and GoodSports, and we want to continue that momentum. But we don’t want to put something there just to say we put something there.”
Construction of the 4,500-seat covered music center is expected to be completed by late summer this year.
The property is along Executive Boulevard, west of Meijer near the I-70 and Ohio 201 interchange. The music center will be at the west end of the property, with the fieldhouse/hotel between it and Meijer.
Falkowski said GoodSports is expected to start construction once the company’s contractor finalizes agreements with subcontractors. He said he anticipates construction starting before June 1.
According to the amended development agreement between the city and GoodSports, the land will be turned back over to the city if construction doesn’t start by June 1 or if the fieldhouse/hotel is not open by June 1, 2015.
Falkowski said the agreement will be satisfied once dirt moves at the site and utility work begins. GoodSports officials have said they would like to begin hosting events in January 2015.
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