Case Study Redevelopment for Donatos Short North

Property Details

Elford Development approached Chairwoman Jane Grote Abell and CEO Tom Krouse about exploring an opportunity to maximize their Short North site’s potential by increasing the size of the current buildings’ footprint. The constraints for Donatos included staying open during the entire process, maintaining the drive-thru lane at all times and developing a new store design showcasing an urban look. The constraints for the property owners (Grote family members) included maximizing the overall cash flow and not disrupting store operations. The constraints for the Italian Village Commission was to develop plans for a new building that would fit within the framework of the neighborhood while not being a burden to the neighborhood (i.e. increased parking demands due to a large new micro-brewery and restaurant).

Outcomes

Elford Development was able to achieve all goals set forth for the new project. The results were as follows:

• Elford Development and their team of consultants altered the current site from approximately 3,000 square feet of building square footage to just under 15,000 square feet. This new urban structure fits seamlessly into its newly gentrified surroundings and has helped Donatos focus on its exciting new prototype. This prototype is now their new
  urban store design moving forward and they are currently taking this plan to Nashville, TN.
• The 1 & 2 story new building includes a 1,700 square foot rooftop terrace that opens to a second story restaurant and bar. This will be a very unique outdoor space for Columbus Ohio.
• Elford was able to locate and establish a long term lease with the Junior Achievement property located 2 blocks north. This property provides an additional 46 evening and weekend public parking spaces, not designated for this property’s use. This transaction resulted in a win for the neighborhood, Junior Achievement and our project.
• The new entity consists of both the Grote Family as well as the Elford Development principals in a newly established partnership. The property ownership entity was given a capital account for their land (based on an agreed to value) and the property was contributed to the new entity. The land owners receive a preference payment which has a priority to other cash flow distributions going forward.
• The project’s cash flow generated from this new project has increased by over 500%, even with newly placed debt.

Client

Donatos | RAM Brewing Short North

920 N. High St, Columbus, OH 43201