The deal will spur even more economic growth in an area already teeming with progress, officials said.
Craig Fanning, owner of the Rollandia property at 6677D Boxwood Lane, said he hopes to close on the deal in January. The Sugarcreek Twp. zoning department said they’ve received plans for the development, and hope to wrap up the approval process in mid-January.
The Dayton Daily News first reported in August that Fanning was considering selling the land for development.
Plans for the development include single-family detached homes targeted to empty-nesters and a multi-family rental community targeted to both empty-nesters and young professionals, said Brian Schottenstein, president of Columbus-based Schottenstein Real Estate Group.
A resort-style pool, clubhouse and community garden also are planned for the development, Schottenstein said. The company would like to start construction as soon as spring 2017, but Schottenstein could not estimate cost of the project.
The Cornerstone project — which includes retail, commercial and residential space — began taking shape in 2007. The development has mostly added new retail stores.
Kroger announced plans for a 111,000-square-foot grocery store in the Cornerstone development. The store is scheduled for completion in early 2017, and will be located on about 15 acres between Costco and Cabela’s — facing south toward Feedwire Road.
“Our company only likes to develop in high-end locations,” Schottenstein said. “We like areas with a lot of retail around it like Cornerstone.”
Cornerstone is home to restaurants like Bagger Dave’s Burger Tavern, Chick-fil-A and Cheddar’s. A hotel, other housing and office space are also in the works, while plans for a park with an amphitheater were proposed in July.
Rollandia Golf Center, which opened in 1961, has been rumored for years as a prime property for development because of its proximity to Cornerstone.
Zachary and Angela Fink, who have been leasing the Rollandia Golf Center, have the rights to continue operating the Magic Castle fun center that is popular with families, but the executive golf course and driving range will be closed if the deal goes through.
Barry Tiffany, Sugarcreek Twp. administrator, said the castle, batting cages and mini golf will not close as new development begins.
“The senior living component would be a great addition to the community,” Tiffany said. “We’re looking forward to that coming.”
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