FAIRLAWN: A developer is proposing to tear down an aging shopping center along West Market Street and construct a new 9,400-square-foot building for two restaurants and a retail store.
The project, located at 2858 and 2872 W. Market St. near the Fairlawn Town Centre, is expected to cost about $1 million.
The potential restaurants and store haven’t been disclosed.
“We’re very happy,” Mayor Bill Roth said. “It’s always good to see reinvestment in your city. Those buildings have served their purpose and they are really tired and dated.”
The Wyant Buildings were constructed in 1965.
The proposed development also would fit in with the city’s goal to upgrade older sections of the West Market corridor, which is filled with office and retail businesses.
Anchor Associates, a Cincinnati retail real estate company working on the deal, declined to comment, saying it was too early in the process.
Anchor works with well-known brands ranging from Old Navy to Chick-fil-A to AMC Theatres. Development Management Group of Nashville, Tenn., has filed paperwork asking the city for preliminary site plan approval and a conditional use to allow the restaurants in the business zoning district.
The requests will go before the city Planning Commission on Thursday.
The paperwork submitted doesn’t name the restaurants or retail operation.
DMG Vice President Ken Knuckles said those agreements still are being worked out.
The shopping center, covering 2.36 acres, is now owned by 2858-72 W Market LLC. Summit County has appraised the value of the property at $854,500.
Rick Armon can be reached at 330-996-3569 or rarmon@thebeaconjournal.com. Follow him on Twitter at @armonrickABJ .