Hangar condos catch a tailwind
Monday, February 13, 2006
ERIC ALBRECHT DISPATCH
Mark and Tricia Teal were among the first people to buy a hangar condo at Airspace Place at the Delaware County Airport. The condos are large enough to house an airplane as well as an auto or two.
It took more than the repetitive jostling of a stubborn, metal door to convince Mark and Tricia Teal to purchase an airplane hangar at Delaware Municipal Airport.
But the opportunity to free their Tiger AG-5B single-engine airplane with the push of a button contributed to the decision.
"TheyĚre rusty, and as heavy as they look," Mark Teal said of the doors on the hangar the couple used to rent at the airport.
The Teals are among the first few people to purchase hangar "condos" from entrepreneurs Rick Briggs and Dan Coy, who founded Airspace Place at the Delaware airport and Akron-Fulton Airport. Airspace Place offers new hangars with either 42- or 48-foot automatic doors starting at $50,000.
"Typically, you have to rent the hangars from an airport or municipality," Coy said.
"Our hangars are for people who have made a significant investment in aircraft and want a nice place to keep it."
The insulated hangars at Airspace Place have gas heat, fluorescent lighting and hot running water, which is a luxury for a hangar at a small airport, Coy said.
They also have automatic door openers; some are large enough to accommodate an automobile or two.
Hangar buyers donĚt own the land under the hangar. Coy and Briggs signed a 90-year lease for the land with Delaware, which agreed to provide some infrastructure improvements. For instance, the city used a $150,000 federal grant to build a taxiway that connects the airportĚs runway, main taxiway and the Airspace Place hangars.
The rest of the project was funded with private equity. Coy said plans are to build 74 hangars. He said eight are sold.
For an annual fee, hangar owners and others can join Airspace PlaceĚs aviation club, which allows use of an 1,800-square-foot flight planning building. It provides computer access to weather reports and Federal Aviation Administration flight services. ThereĚs also a planning table and a meeting room.
Members are permitted access to a similar building at the Akron airport, and vice versa.
Grove City decision expected soon
Grove CityĚs development director says the city should know by late spring who will be making the cityĚs town-center concept come to fruition.
The city wants a mixed-use development on 3.5 acres of land it owns near city hall, near the intersection of Broadway and Park Street. Five developers have turned in their concepts for the project, which includes ground where Grove City Lumber Yard once stood.
Four of the prospective developers are local: Pizzuti Cos., Skilken, Steed Hammond Paul and Stonehenge Co. One out-of-town firm, Zaremba Group of Cleveland, also is in the mix.
ThatĚs a tough lineup to contend with for Zaremba, which only has dabbled in a couple of retail stores here.
Pizzuti is one of central OhioĚs bestknown developers. Stonehenge is designing the Creekside development in Gahanna. Skilken has built several shopping centers here and is designing the planned Mahogany Village, an artistĚs outpost, at Easton. Steed Hammond Paul has its offices just a stoneĚs throw away from the development site.
Chuck Boso, Grove CityĚs development director, said the city hopes to choose a developer in "four-to-six weeks." Plans should be set two or three months after that, Boso said.
Condos planned above ArbyĚs
The empty space above the ArbyĚs restaurant at 45 N. High St. should have four condominium units by summerĚs end.
Developer Stelios Giannapoulos has hired architect Michael Paplow of Feinknopf, Macioce and Schappa Architects to turn two floors of space into two condos per floor.
ConTrak Corp. is handling the construction work for the space, which has been empty for five years.
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