The Torpedo Factory

A development proposal for

The Torpedo Factory

The Haller Building, 21 East Fifth Avenue, Columbus, OH 43201

the proposed anchor

that will provide a

tie-in between the

Gateway District

and the

Short North

Located near the corner of Fifth & High, The Haller Building is in a prime location smack in the middle of the revitalization of the Columbus Historic Districts and is within walking distance of dozens of soon-to-be-built upscale condos and hotels, as well as nearly 650 soon-to-be-built upscale residences in the nearby Weinland Park district, not to mention the thousands of current residents from the existing Historic Districts, the University District, as well as downtown Columbus (see enclosed maps and plans for the development of this immediate area).

Already designated a Historic Building—and taxed accordingly—The Haller Building at 21 East Fifth Avenue, is prime for development. Originally built as the Ohio Bell telephone headquarters, this building is built like a proverbial fortress. In fact, it was actually earmarked as a local bomb shelter in the 1940s during World War II. With nearly 18,000 square feet—in three levels—all under one roof with a historically industrial charm and brick facade, the possibilities are vast, and we are seeking a partner to co-develop this project.

The highest and best use for the development of The Haller Building is being brainstormed by various parties and all options are being considered and scrutinized. Besides the more conventional considerations of condominium, condominium “lofts,” apartment, and office development, one unique possibility under consideration may be the implementation of an upscale and trendy “mini-mall,” complete with cost-effective, self-contained shops or “boutiques” with 80–square-foot to 200-square-foot gross leasable areas that can yield a much more affordable overall rent because the vendor gets a more condensed and efficient space. These boutiques can be very similar in appeal to “kiosks” found in larger malls, but much more secure and in a more condensed area. Boutique proprietors can enjoy the indoor, year-round traffic from the upscale consumers, but at a fraction of the cost of a High Street location that has a much more expensive rent due to unnecessarily large square footage offerings that budget-minded proprietors realistically cannot afford. Similar mini-malls around the country are enormously popular with the consumers as well as the proprietors—it is a win-win situation for both. Some of the more common boutiques that appear at these mini-malls are fine gifts, jewelers, fashion, health food vendors, artisans, coffee shops, musical instruments and music vendors, massage/nails/hair, collectibles, cellular telephone dealers, gadgets, knickknacks, and a variety of small business from realtors, tax services and satellite television vendors. Our retail spaces will be self-contained and lockable units, with overhead storage that will maximize the vertical space of the building’s 13-foot ceilings. We can even offer rentable storage units outside of the building as well to generate even more revenue, as they will serve as necessary storage supplements to the participating vendors!

Our research has shown a nationwide consumer-preference shift from large department stores and malls to less expensive “dollar store” type retailers. This mini-mall concept gives consumers a place to shop for many different items under the same roof from diverse “entrepreneurially spirited,” yet cost-conscience vendors. Sort of like the concept of an indoor swap meet or flea market, but having established local vendors selling a variety of items in a more upscale, classy and trendy environment. With strategic marketing and momentum, and a captivating name like “The Torpedo Factory” to create an enticing vibe, our mini-mall can provide an “attraction” that can create the unique shopping experience that can lure shoppers from all around central Ohio, and this new breed of shopping is part of the current nationwide trend of budget-oriented upscale shopping that is mutually beneficial for the consumer as well as the retailer. In fact, we already several vendors who are anxious to participate in our venture and be part of this exciting nationwide trend of affordable retail “boutiques” in an affluent “mini-mall” type environment!

Columbus … we need your help!

“We are trying to find the highest and best use for The Haller Building at 21 East Fifth Avenue. Will it be the proposed mini-mall? Will it be something else? Your input will help us make this decision. We are seeking development partners and potential tenants to give us feedback on what the building will eventually be developed into. Your input is critical! After all, it is our town and we want what is best for everyone. With all of the development going on in this area, the potential is astounding!” —J R Haller, building owner

Let’s review what is happening in this area:

The Streetcar Plan — City leaders are discussing a plan to link downtown Columbus and the Campus Gateway via an electric streetcar line. This could solve the ongoing parking dilemma that this area is so renowned for. Many feel that this streetcar line will attract people who would normally avoid the area due to parking concerns. As one local shop owner has said, “It would create a lot of business. It would increase the popularity of this part of Columbus and would create more economic wealth and economy down here.” The proposed streetcar plan will help bring more tourists, who may be in town for a convention, up north into the Short North and Campus Gateway and vice versa.

The Campus Gateway — Re-instated OSU President Gordon Gee has great plans for his beloved University District and much improvement has already been realized. The existing Campus Gateway is a beautiful 7-acre complex featuring a parking garage, cinema, bookstore, restaurants, shops, offices and apartments. Plans to expand the Gateway are already in the works. To help the surrounding areas, the AFL-CIO Housing Investment Trust has ponied up $20 million to help finance the renovation of owner-occupied and rental property in the neighborhoods that surround the campus. Also in the works are plans to renovate existing apartments and businesses to create a more pedestrian-friendly environment. Much of these plans are spearheaded by Campus Partners for Community Urban Redevelopment, the university’s nonprofit real estate affiliate.

The Revival of the Short North — This popular area is nationally revered for its infamous “Gallery Hop” which highlights the Short North Business District’s list of what’s happening. Eclectic and diverse shops have taken residence here and much future development is in the works, including upscale condos and apartments, a posh hotel, a parking garage, office space and retail space.

The Weinland Park Plan — Already known for their 300 upscale residences in the Harrison West area, Wagenbrenner Development LLC plans to build more than 600 residences where the Columbus Coated Fabrics Corp. wallpaper-making facility once stood. The plan to bring more home-ownership to the area will have a positive effect on reducing the crime and deteriorating housing that this area was once known for. Plans are also in the works for retail and community services.

21 East 5th Avenue, Columbus, OH 43201

614-459-4244