Council committee reviews Creekside mixed‑use development agreement; developers, CIC outline phasing, incentives and completion guarantees

Economic Development Director Jeff addressed the Committee of the Whole on Monday, Sept. 22, 2025, to present a draft development agreement that would pave the way for a multi‑phase mixed‑use redevelopment of the Creekside District. The agreement, negotiated between the Gahanna Community Improvement Corporation (CIC) and a developer team led by Benson Capital and Connect Real Estate, would provide the economic framework and land control needed for construction of new apartments, a hotel, retail and a parking garage and would use tax incentives to fund on‑ and off‑site improvements.

The proposal matters because it would redevelop most CIC‑owned parcels in Creekside and the adjacent city parking lot: the draft describes a two‑phase project with phase 1 consisting of two mixed‑use buildings on Mill Street (about 263 apartments, a 55–70‑room hotel, two restaurants, coworking space and a parking garage) and phase 2 comprising 24 townhomes on High Street. The developers say the total construction cost is roughly $105 million.

Under the draft, the city and CIC would contribute their assembled land to the project (the agreement uses a nominal sale price), and the developers would seek additional financing and state programs. The agreement lists available incentives and financing mechanisms discussed in the meeting, including a pre‑1994 Community Reinvestment Area (CRA) 100% property tax abatement for 15 years, a non‑school tax increment financing (TIF)…