Creekside Development Purchase Update
On Monday Gahanna City Council voted (7-0) to transfer the development agreement to Strathmore Development Company who purchased the Creekside development. This final step enabled Strathmore to officially close on the purchase this week.
“We will continue to move the original Creekside vision forward,” Strathmore President Scott Chappelle said. “We hope to complete construction and stabilize the project within a year.”
The City of Gahanna owns Creekside Park, the Plaza and the garage. None of these properties are involved in this process and the City’s assets are not changing hands. The City’s investment is sound and the bonds for the park and the plaza are current.
In addition, the City owns the land beneath the two retail and office buildings (building B & C) and has a 99-year lease agreement on the land under these two buildings. The City does not own the land underneath the residential building (Building A).
There are no public funds in the project that was placed in receivership.
Read more about the completion of the Creekside purchase:
Columbus Dispatch " Gahanna’s Creekside Plaza sold to developer"
Columbus Business First "Creekside mood brightens with new owner"