Metroparks, ProMedica and a Columbus developer today are announcing plans for a combination retail, residential and park development on the east Toledo riverfront adjacent to downtown.
Metroparks will purchase nearly 53 acres from ProMedica over three years for a total of $3.1 million to create a riverfront park with connections to Waite High School, International Park and a new development that was also announced today. The purchase agreement includes an option to acquire an additional 17 acres.
Continental Real Estate Companies of Columbus will purchase the remainder of the property from ProMedica for a development that will include 360 apartments, retail space along Main Street and a restaurant.
Metroparks is also announcing that it has secured a grant for $1.9 million from the Clean Ohio Fund, which will begin the project, including purchasing the first 21 acres for $1.3 million.
Additionally, the Board of Park Commissioners this morning approved a resolution to hire SmithGroupJJR of Ann Arbor, which will complete a master plan for the park by mid-October. Construction on the first phase of the project could begin as early as next spring.
SmithGroupJJR developed the master plan for Middlegrounds Metropark, which opened in September on the opposite side of the downtown riverfront.
“All great cities have great parks,” said Dave Zenk, executive director of Metroparks.
“As we look at communities around the country that have invigorated their city centers and enhanced their reputations, parks have played important roles in these transformations,” Zenk said. “In Toledo, we have a reenergized downtown on the banks of the largest river on the Great Lakes. Adding greenspace and river access, as envisioned in the Downtown Toledo Master Plan, are vital to realizing our full potential as a the word-class city.”
ProMedia purchased the property last year. The impetus for the move was a new downtown Toledo master plan approved by City Council that envisions 300 acres of additional parks, and river access.
An initial public meeting to begin the planning process is scheduled for June 21 from 5:30 to 7:30 p.m. at the East Toledo Family Center.