RG Properties is developing plans for shopping centers along both sides of Austin Boulevard, east of the new Interstate 75 interchange.
In addition to four new buildings in the 136-acre mixed use development in Miami Twp., called Austin Landing, RG is planning a 59-acre retail center across the boulevard in Springboro.
Stores, restaurants, a hotel and a service station are laid out on the Springboro site, called Austin Landing South, in a concept plan obtained by the Dayton Daily News.
RG President Randy Gunlock said the concept plan is one of about 50 the company had developed for the site.
“We’re always working on our developments. When something happens, you’ll be the first to know,” Gunlock said earlier this month.
“I knew they were marketing it,” Steve Stanley, executive director of the Montgomery County Transportation Improvement District, said of the concept plan earlier this month.
The concept plan was part of a private investment offering for the EBS Austin Landing Fund, registered with the Securities and Exchange Commission and Ohio Department of Commerce Division of Securities. Eubel Brady & Suttman, a Washington Twp.-based investment firm, outlines $64 million in investment potential in both Austin Landing developments in materials describing the offering.
In the concept plan, a five-building strip center is anchored by a 125,000-square-foot store. The plan also calls for six one to two-acre out lots; a service station and free-standing retail store along Austin Boulevard and Ohio 741; and a hotel and two restaurants on the southwest side of the development.
The land adjoins the Ascent, a 10-building office complex under development by Springboro and Mills Development.
Last week, Miami Twp. trustees approved plans for four new buildings near the northwest corner of Austin and Ohio 741.
Already three office buildings and a Kohl’s department store have opened. A Kroger supermarket and Hilton Garden Inn are under construction. By next summer, a village including a park, ice rink, stores, restaurants, residences and a movie theater, are to be completed.
The terms of RG’s development on the Springboro land were agreed upon in a consent decree filed in Warren County Common Pleas Court in July 2005. The agreement ended a lawsuit filed by RG after Springboro rejected the company’s plans for a Walmart at the site. No plans have been submitted to Springboro for Austin Landing South, officials said.
The decree limits RG to one service station, one “fast-food” restaurant and one 110,000 square foot anchor store - 15,000 square feet larger than the anchor in the March 2012 concept plan included with the prospectus for the Austin Landing fund. RG also is barred from including “price point retailers,” such as Dollar General.
Gunlock said it was “entirely possible” development there could begin before work was completed on the Miami Twp. site.
“First I’ve heard of it,” Miami Twp. Trustee Mike Nolan said. “(RG President Randy Gunlock) told me a year ago it would be the last property he would develop.”
Last week, Gunlock could not be reached after township trustees approved the plans for one large building and three smaller structures near the southeast corner of the Miami Twp. development. RG offered this layout after township planners questioned the company’s plan for a single 65,000-square-foot shopping center there, anchored by a “big box” store.
“The marketing of the site has been to enhance Miami Township by creating unique places, building a community, and strengthening the retail corridor within Miami Township, the City of Miamisburg and the City of Springboro,” the staff said in an analysis of the initial proposal.
The plans approved by the township trustees require RG to set aside areas for pedestrian pathways, bike shelters, water fountains, and space south of the office buildings just east of I-75, that ” showcases Austin Landing’s pedestrian nature.”
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