The Pizzuti Companies and Capital University will form a joint venture to redevelop a University-owned surface parking lot located along Grant Avenue between Capital and Oak streets, near Capital University Law School in the heart of the Discovery District.
The development plan for the1-acre site includes a six-story mixed-used structure with four stories of apartments, structured parking and ground-floor retail space. Capital will retain a portion of the site for law school parking.
“Capital Law School has long contributed to the vibrancy of the Discovery District,” Capital President Elizabeth L. Paul, Ph.D., said. “The redevelopment of this surface lot will help strengthen the use of space in the area and is a natural extension of Capital’s commitment to lifting up our neighborhoods and building community.”
The joint venture will pair Capital and Pizzuti as development partners in re-imagining the property as part of a walkable, pedestrian-friendly Oak Street, with street-facing walk-up-style units, outdoor social spaces, a residential lobby and retail space. The project will include approximately 100 apartments, ranging from studios to spacious two-bedroom units, and are designed to attract both young and established professionals, students, lifelong learners, and anyone who wants to live in the heart of a vibrant downtown neighborhood.
The plan for the property was developed in conjunction with Capital’s long-range master site plan for its downtown and Bexley campuses in support the University’s strategic plan. Both plans are expected to be finalized this spring.
“We’re thrilled to announce both this project and the partnership with Capital University,” said Joel S. Pizzuti, president of The Pizzuti Companies. “We truly appreciate the opportunity to work with such a prestigious institution that is an integral part of Columbus’ history and future.
“The Discovery District is Columbus’ next great neighborhood,” Pizzuti said. “There exists a combination of higher education, art, culture, major employers, a beautiful park, and a world-class library. This combination is unique to Columbus.”
Construction is expected to begin in the summer of 2018.