There’s no question the recent economic recession has had a major impact on the commercial real estate industry all across the country. As banks tightened up on lending and businesses in almost every industry faced cutbacks and profit losses, so too did commercial real estate transactions slow down.

Despite the recession and any subsequent cutbacks, development in Columbus, Ohio has remained strong and continues to thrive to this day. Whether it be new residential communities, hotels, office complexes, or retail centers, Columbus has experienced a multitude of new development projects that have carried through the economic slow times.

One of the longest planned projects is the new boutique hotel, four-story office and retail building, and five-story parking garage development in the short north from Columbus-based developer Pizzuti. Plans for this development were first revealed in 2008, and received final zoning approval in March 2012, with a projected opening in early 2014. The hotel, called “The Joseph”, will be a ten-story, 135 room hotel located at 618 N High Street. (more…)