Heath lands $18 million development, 750K square foot facility
HEATH — An $18.5 million development, which includes construction of a 750,000-square-foot industrial/warehouse building between Thornwood and Keller drives, will help Heath pay for roadway improvements in the area.
The occupant of the building has not been identified, but an agreement between the city and developer COI Zeta LLC provides a 15-year, 100% community reinvestment area tax exemption for improvements to the 50-acre site.
The developer must make $105,000 annual payments in lieu of taxes for the duration of the agreement, a 15-year total of $1.575 million. The money will help pay for improvements to Thornwood Drive and Central Parkway, according to the 2018 Central Parkway agreement between the city and Heath City School District.
The development will be across from the end of Hallie Lane, north of Irving Wick Drive West. Work has begun along Keller Drive, next to the Marathon Petroleum office building at 855 Keller Drive.
Heath Mayor Mark Johns said he would not reveal the occupant of the building, allowing the company to make that announcement when it is ready. He said it should be completed by the first quarter of 2022.
“The developer is committed to contributing money annually to infrastructure improvements along that area,” Johns said. “It’s going to allow us to do some roadway improvements along Thornwood, near the intersection with Hallie Lane.”
Licking County Building Code lists the project at 840 Thornwood Drive as “Zeta Warehouse,” with the owner COI Zeta LLC, of Columbus, and the contractor Pepper Construction, of Dublin. COI Zeta Holding Company, LLC filed its articles of organization with the state on Jan. 27.
Johns referred questions to Phil Rasey, vice president of development for VanTrust Real Estate, of Columbus.
A telephone message for Rasey was returned by Marcy Fleisher, of Team Fleisher Communications, who said Rasey is not yet ready to comment on the development.
The mayor said the project includes a roadway extension from the end of Hallie Lane across Thornwood Drive into the development and connecting with Keller Drive.
The area is critical for future roadway projects and potential developments in Heath and Newark.
Eventually, the city of Heath wants to extend Central Parkway from its dead end by Walmart and the Davis-Shai House about 1.5 miles from the major retail area to Thornwood Drive, a main north-south connector projected as a development corridor.
In January 2019, the mayor said all the players were on board for an “Easton-esque” development on about 300 acres west of Walmart, north of the Newark-Heath Airport and south of Geller Park. The vision for the area included a big-box retailer, condominiums, and at least one more element, such as office space, a clinic or restaurant.
The Central Parkway extension would be paid for by development commitments and a 2018 tax-increment financing agreement with the Heath City School District.
Officials from Newark, Heath and the county have long envisioned Thornwood Drive directly connecting Ohio 16 with Ohio 79, opening up the Thornwood Drive corridor for economic development.
The city of Newark and the Ohio Department of Transportation plan a realignment of Cherry Valley Road and a connection of Thornwood Crossing directly with Thornwood Drive at Reddington Road.
The project includes a new bridge over Raccoon Creek, new roads up to the bridge and a new roundabout at the intersection of the three roads, City Engineer Brian Morehead has said. The project would bypass the bridge and dangerous curve on Cherry Valley Road.
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