Release
FOR IMMEDIATE RELEASE
Contact:
Jim Cramer
K2 Group, LLC
132 North Woods Blvd.
Suite C-2
Columbus, OH 43235
Phone: 614 430.9960
www.k2realtygroup.com
info@k2realtygroup.com
Developer Unveils Plan for Dublin's Premier Lifestyle Center
Columbus, OH - March 31, 2005 - K2 Group announces The Shoppes at River Ridge, a unique, open-air retail development offering upscale shopping and restaurants.
Columbus-based real estate developer K2 Group is about to make shopping as pleasant as a walk in the park for residents of Dublin and surrounding communities.
K2 has announced plans to develop a new "lifestyle center", The Shoppes at River Ridge, on an unimproved 15-acre site at the southeast corner of West Dublin-Granville Road and Riverside Drive, across the Scioto River from downtown Dublin. The 104,000-square-foot center will resemble a quaint village featuring eight buildings that house a mix of upscale shops and restaurants. Well-landscaped walks and an arbor will wind through park-like grounds and connect the buildings. Approximately 700 parking spaces - many, store-side - will provide quick access to each shop, ensuring a convenient and secure retail shopping experience. The restaurants also will offer valet parking.
Based upon approval of River Ridge at the March 17 Dublin Planning and Zoning Commission meeting, K2 Group plans to break ground on the center during summer 2005 and expects completion spring 2006. Estimated cost of the project is approximately $24 million. Danis Building Construction Company will be the general contractor.
"We are confident that The Shoppes at River Ridge will offer a shopping and dining experience unequaled in this rapidly growing community," said Jim Cramer, principal and co-founder of K2 Group. "We are committed to making River Ridge the premier property of its type in the northwest Columbus area."
"River Ridge will be one of only an estimated 120 upscale lifestyle centers in the U.S. Lifestyle centers are gaining in popularity over the traditional mall concept - perhaps, for good reason," said K2 Group principal and co-founder Dean Kissos. They generally offer more convenient parking and immediate access to stores, are pedestrian-friendly, and have the ability to be more unique in design than the typical "box" mall or shopping center. "Most also offer the allure of an intimate village atmosphere, with open walkways, patios and extensive landscaping," added Kissos.
Working with Dublin-based architectural firm Bird-Houk Collaborative, the developer of River Ridge takes full advantage of design freedom to create a shopping village that captures the charm of Historic Dublin. The eight buildings reflect the evolution of architecture in the historic heart of the city. The site plan shows brick sidewalks meandering between buildings, beneath an arbor or to the rotunda, a centerpiece of River Ridge. The plan also features a landscaped two-acre park-like environment with a one-acre pond, fountains and bike path. Spanning the Riverside Drive frontage, the area offers a panoramic vista of Historic Dublin and the river valley - and serves as the southern gateway to Dublin.
K2 Group has focused on bringing a good balance of upscale retail and fine dining to River Ridge. When completed, the center will offer nearly 90,000 square feet of retail shops and 15,000 square feet of restaurants. In addition to al fresco dining, River Ridge will feature a terraced restaurant carved into a hillside of stone overlooking the park-like environment and Scioto River.
River Ridge has drawn significant interest from the upscale retailers K2 Group seeks for its flagship project. The developer already has preliminary commitments for 70 percent of the space and will announce tenants as lease agreements are finalized.
"We are delighted to have the opportunity to bring the unique shopping experience to be offered by The Shoppes at River Ridge to our neighbors in Dublin and surrounding communities," added Kissos.
Based in Columbus, K2 Group is a commercial real estate development and advisory firm that specializes in developing unique retail centers. The company focuses on relatively smaller projects - 250,000 square feet or smaller - that can complement and become integral within an established community.
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