Ibiza Ribbon Cutting Ceremony & Launch Party

This Saturday, Governor Strickland and Mayor Coleman will be joining the Arms Properties team in an official ribbon cutting ceremony for the Ibiza mixed-use condominium project at the corner of N. High St. and E. Hubbard in the Short North Arts District. Following the ceremony there will be a Launch Party / Open House event that runs in conjunction with this weekend's Gallery Hop from 6pm to 10pm.

The final count on the Ibiza project is 144 condominium units, ranging in price from $119,999 for 546 square feet running all the way up to $1,499,999 for a 4828 square foot unit. There are 11 stories in the building, 20,000+ square feet of commercial & retail space and an additional 5 level parking structure that will be partially available for public parking. There is also a 6000 square foot fitness center planned for the condominium.

According to a story from Business First last week, construction is slated to begin in the next few months after some utilities are relocated. One thing I've always respected about Arms projects is that they are really good about keeping a lid on things until that are are ready as they can possibly be to pull the trigger on a project so barring any city scheduling issues of utility complications, I expect to see some action by summertime.

Arms Properties also has a bit of a branding and marketing effort that they are building around the concept of a "Hybrid-Home" which factors in both the "young and talented" crowd that is becoming more highly sought after in the job market and the "empty-nester" crowd who is looking for diverse and walkable experiences and they move into the post-kids phase of their lives. They are still putting the initiative together from what I can gather, but it dove tails into two growing issues that are looming on the horizon for city's across the nation so I'm curious to see what comes of it. They caught some press for it a month or so ago.

I'll be doing a special write-up in the next couple of weeks regarding what Ibiza means for the Short North in a piece I've been wanting to write about the evolution of the District and what I think we'll be seeing in the next 5-10 years.