A Columbus development team received state approval Wednesday for a 5-acre riverfront project in Delaware anchored by a renovated Civil-War-era factory.
The plan, by RiverWest Partners of Columbus, would include redeveloping the Delaware Manufacturing Co.’s two-story factory, built on Flax Street in 1863.
The oldest part of the long-vacant factory would be incorporated into a seven-building complex that would include 180 residences, 5,000 square feet of commercial and retail space on East Central Avenue, and amenities including a pool and extensive outdoor space along the Olentangy River.
Called The Mill on Flax, the development would run along the east side of the river, north of East Central Avenue and west of Milo Street. It would replace eight buildings, in the former industrial area just east of downtown Delaware.
“What’s really exciting about it, the entire east side of the Delaware has not seen the same investment as the thriving Sandusky Street corridor,” said Brenen Palma, a partner in RiverWest.
“The city has a desire to invest in the east side, in its riverfront district plan, to create a truly walkable area with access to downtown. … This really sets the stage for future development of the east side.”
RiverWest is hoping a pedestrian bridge can connect the site with the 50-acre Mingo Park on the west bank of the river.
The Ohio Tax Credit Authority on Wednesday approved RiverWest’s application for $3.4 million in state tax credits for the project, which has an estimated total cost of $38 million.
“We’re incredibly thrilled and grateful,” said Palma. “It’s great news.”
The anchor of the project is the 159-year-old factory, which made wooden chairs. Under the plan, the building would be converted into a clubhouse and amenity space for the community, Palma said.
“It’s a beautiful old stone building, with original arches,” he said. “It’s the soul of the project.”
Palma said the development would fill a growing need for housing in Delaware. The Mill on Flax would contain a mix of studio, one- and two-bedroom apartments, and townhomes in five three-story buildings.
The developers said the project will complement the group’s plan to convert the former Delaware Train Depot, built in 1885 on East Central Avenue and Lake Street, announced last spring.
“We are very excited to continue to expand our investment in the East Side of Delaware,” Palma and RiverWest’s other partners, Brian Suiter and Tom Vetter, said in a joint statement.
RiverWest has purchased 11 parcels to make up the 4.6-acre site. Assuming the project receives city approval, including rezoning, Palma said the developers would like to break ground this year.
@JimWeiker
