New Albany and Central Ohio Real Estate & Community » New Albany

New Albany Offer is Just Right for Bob Evans

The Raines Group — Thu, 25 Aug 2011 15:30:20 +0000

Bob Evans Farms is ready to move into its new headquarters in New Albany within the next two years.

The company announced in March that it would move its corporate headquarters to New Albany from south Columbus, where it has been located since 1968, said Joe Eulberg, executive vice president of human resources for the company.

Bob Evans Farms considered other locations in Columbus and Texas. But New Albany seemed to be the right fit and also provided an incentive package “that made sense,” Eulberg said.

Eulberg said the company was looking for 26 acres to purchase and ended up buying 40, which will give it room to expand in New Albany. The property is north of state Route 161, just west of Beech Road in Franklin County.

Community development director Jennifer Chrysler said the company is expected to construct a 165,000-square-foot building that will have 360 employees within the first four years of operations. The company’s investment in the project is estimated at $33.5 million.

Council’s legislative report said, “initially, the company will create 360 jobs in New Albany with an annual payroll of $23.4 million. Within four years, the company will ramp up to 510 jobs with an annual payroll of $35 million.

In its financial-incentive package, the company will receive:

A 15-year, 100-percent tax abatement.

A 20-percent income-tax credit for five years if it uses environmentally friendly technology on site.

A 5-percent income-tax credit for five years for health and wellness initiatives.

A $250,000 income-tax credit, repayable over two years, to help with relocation expenses.

A $1-million interest-free loan for 10 years from the village’s economic-development fund.

A 25-percent credit on building inspections and fees if it uses environmentally friendly technology on site.

The incentives are valued at more than $9 million, but over the term of the incentives, the project is anticipated to provide $11.3 million in income-tax revenue for the city.

The New Albany/ Plain school district is expected to receive $3.97 million from income-tax receipts through the revenue-sharing agreement. The city will also be able to use $2.58 million from the income-tax money generated to pay infrastructure debt from improvements to the business campus.

Eulberg said Bob Evans Farms strives to be part of the community in which it is located and the property will serve as a company headquarters and an educational area, which will help explain how the company operates.

“We can tell our story better through our past,” he said.

If you are looking to buy or sell a property in New Albany, Gahanna, Blacklick, Westerville, or another Central Ohio community, please contact The Raines Group. We offer professional real estate advice and are happy to help you achieve your real estate goals. Please contact us today via our online contact form or by calling The Raines Group at 614-418-7417.

Brick… What a Concept!

The Raines Group — Fri, 24 Jun 2011 20:51:15 +0000

Permeable sidewalk surrounding New Albany's branch of The Columbus Metropolitan Library

New Albany’s forward-thinking approach to development isn’t limited to high tech infrastructure and fiber optics. In fact, one of the latest examples employs an old world tool – brick.
The city recently launched an innovative storm water mitigation initiative. The project is designed to protect existing natural features and restore native habitats while ultimately supporting over 340,000 square feet of commercial development, 800 multi-family residential units and 700 single-family homes surrounding Market Square, the community’s urban core.
The effort encompasses a variety of the best practices developed that address the issue holistically. The project spawned the transformation of Third Street into a ‘green street’ where the historic brick pavement not only complements the community’s timeless Greorgian architectural style but also serves as a permeable surface that filters and stores storm water prior to release into the Rose Run stream corridor.

It’s another example of how New Albany continues to grow in a way that protects its architectural integrity and natural setting while encouraging the development of a progressive 21st century infrastructure.

New Albany Nabs 235 Jobs

The Raines Group — Tue, 31 May 2011 00:11:18 +0000

New Albany may have 235 jobs headed its way after the Ohio Tax Credit Authority’s approval of two incentive deals Monday.
Brickman Facility Solutions LLC, a division of the Maryland-based Brickman Group commercial landscape company, received a seven-year, 50 percent tax credit for its pledge to create 63 administrative and human resources jobs in operations headquarters at a New Albany office building on West Campus Oval. Brickman said the operation would move from Marion.

The state estimates the value of the tax credit from the state income taxes generated by those new positions at $520,639. Within three years the jobs are projected to generate $3.9 million in annual payroll.

Also approved was an eight-year, 55 percent tax credit to the U.S. arm of Jeyes Holdings Ltd., a British maker of household cleaning products. Jeyes has proposed creating 172 full-time jobs in a manufacturing plant it has under consideration for the village. If it chooses New Albany, it expects to lease a 50,000-square-foot facility planned for the New Albany Business Park.

Innovate New Albany

The Raines Group — Fri, 20 May 2011 19:49:04 +0000

New Albany is charging forward in the Central Ohio region with the Innovate New Albany Initiative. The initiative was set up to connect the entrepreneurs with the resources necessary to build their business.

Development director Jennifer Chrysler has implemented the initiative on many levels. Drawing entrepreneurs who want to develop business ideas or start a new company is New Albany’s new business incubator site at 8000 Walton Pkwy. The site includes 7,900 square feet provided by the New Albany Co., the area’s largest developer.

Known as INC@8000, the site offers infrastructure and connectivity to the fiber-optics network provided by Bluemile. The initiative also has set up many resources that can help startups, including the TechStart program, which offers companies mentoring and consulting services as well as office, meeting and lab facilities.

This growth in innovation has also bled into the local schools. The New Albany-Plain Local School District hosts a Cisco computer academy, through which its students can become certified to work with computers and networks.

Chrysler points out, “We want to grow innovation at all these different levels, “This is a comprehensive, community-wide approach to economic development,” Chrysler said. “We want to cultivate that type of environment that is rich with innovation.”

Columbus, Ohio: A Top City for College Graduates

The Raines Group — Fri, 20 Aug 2010 15:55:43 +0000

Columbus, Ohio has been noted as a top city for college graduates. Bloomberg’s Businessweek Magazine recently published a list of the top cities for college graduates to live and find work, and Columbus was number nine on the list. Last year, Columbus was in the number 10 position. What helps Columbus Ohio’s ranking is its diverse employment. Large employers in Columbus, Ohio include companies like Goodyear and Nationwide, as well as Limited Brands and the federal government.

Columbus, Ohio is the state’s capital as well as the anchor for Central Ohio. Neighboring towns like New Albany and Gahanna provide excellent communities to live in for those who prefer not to live right in the city but nearby. Columbus offers great entertainment, culture and nightlife for recent college graduates as well.

To learn more about Columbus, Ohio and the Central Ohio real estate opportunities that exist, please call us today. The brokers at The Raines Group have the knowledge and experience you need to get to know Central Ohio.

Click here to see the list from Businessweek.

New Albany Ohio Real Estate Sales Up in July

The Raines Group — Wed, 04 Aug 2010 19:05:49 +0000

New Albany Ohio real estate sales were up in July. According to the real estate tracking website Trulia.com, home sales in New Albany for the three week period from July 7th through the 28th were up over 25% compared with the same three week period from a year ago. The good news for home buyers is that home prices in New Albany have stayed low and have dropped slightly in the past year as well.

It is an ideal time to buy Central Ohio real estate. With home values decreasing and mortgage rates remaining at historic lows, affordability is at a high. The Columbus Ohio area displays a diverse economy, one which poses to exit the recession far better than most.

If you are interested in looking at Central Ohio real estate or examining the possibility of relocating to the Columbus, Ohio area please contact us today.

Don’t Miss Parade of Homes in New Albany Ohio

The Raines Group — Wed, 21 Jul 2010 02:09:20 +0000

Don’t miss the parade of homes in New Albany, Ohio. The 2010 BIA Parade of Homes will take place in New Albany’s Ackerly Park from July 24 through August 8. There will be eight custom built homes that will be displaying the latest trends in home design. Highlights of the homes include interior design, landscaping and state-of-the-art homebuilding techniques.

Additional highlights of the New Albany parade of homes include a kids area, where kids can stay for an unlimited amount of time for $10 and be able to partake in fun activities including art, games, and a play area for toddlers. There will also be a family bike ride and a 2 mile walk.

The parade of homes in New Albany, Ohio is a great way to see design in action. If you are considering building a home or remodeling your New Albany home this event is not to be missed. Click here to visit the event website and learn more specific details.

Mortgage Rates Remain Low; Great Time to Buy Central Ohio Real Estate

The Raines Group — Thu, 20 May 2010 01:22:05 +0000

Mortgage rates are low, in fact the lowest they have been in the past few months, a good indicator that it is a great time to buy Central Ohio Real Estate. While the recession recovers it has become increasingly clear that the bottom has either come and gone or is bumping along at the moment.

Central Ohio real estate has been faring well in the past couple of months with sales on the rise in areas like New Albany and Blacklick. Recent reports show that the Columbus, Ohio area is working on attracting young professionals and keeping the area attractive in terms of entertainment, activities and events. As the area grows, so will the real estate market.

For more information on the Central Ohio real estate market contact us today. Our brokers are well versed regarding Central Ohio communities, and can help find the best property to suit your needs.

Founders Day in New Albany, OH this weekend

The Raines Group — Thu, 13 May 2010 17:21:34 +0000

The annual Founders Day Celebration began in 1976, as part of the nation’s bi-centennial celebration. Funded by community donations, this event celebrates the founding members who developed the Plain Township/New Albany area. The village was founded in 1837, and has dramatically developed in the past two decades. For further information on the Village of New Albany, click here.

The Founders Day Celebration this year will take place on Saturday, May 15 from noon-5pm. A parade will begin at 11am, and other activities include a mechanical bull, photo booth, face painting, inflatable obstacle course, costumed characters, climbing wall, and much more. Local vendors will also be there, as well as a bake sale. There’s no limit to the fun you’ll find, be sure to join in on the fun celebrating this wonderful community! For further information, click here.

New Albany Home Sales Continue Rise

The Raines Group — Fri, 07 May 2010 20:32:21 +0000

Real estate sales volume for New Albany, Ohio continues to rise. The real estate tracking website, Trulia.com, shows that for the 3 week period from April 7 through 28 the sales volume for New Albany Ohio was up over 75% compared with the same 3 week period in 2009.

It is a great time to buy a New Albany home. The median sales price of a home in New Albany is approximately 19% less than it was a year ago. Combine the decrease in home prices with low mortgage rates and an ideal buyer’s market is created.

The home buyer’s tax credit is now expired but consumer confidence is remaining strong, indicating that the expiration of the credit is not going to keep a potential home buyer from jumping into the New Albany real estate market.