Perkins Township – The Perkins Local School District, in partnership with the Perkins Township Trustees and the Sandusky Mall Residential LLC, are proud to announce that a $13 million upscale, multi-family residential development at the Sandusky Mall is moving forward.
The development plan is a joint venture proposed by the Cafaro Company, Sandusky Mall Residential LLC of Niles, Ohio, and Crossroads Group LLC, of Richfield, Ohio.
“We thank the Cafaro Company for its unwavering interest and support in our community for many years,” said Perkins Schools Superintendent Todd Boggs. “It has been an honor to work with Anthony Cafaro Jr., the co-president of the Cafaro Co., and our Perkins Township and Erie County officials to reach an agreement.”
Mr. Cafaro added, “We greatly appreciate the thoughtful cooperation of the school board and Perkins Township Trustees. We believe this project will solidify the importance and vitality of the Sandusky Mall complex and make it a valuable asset to the community for years to come.”
The development plans call for the construction of 126 two-bedroom deluxe apartments to be built on 17.5 acres currently used as a parking lot. The land is on the east side of Hobby Lobby store.
The Perkins Local School District Board of Education on Wednesday, October 13, approved a request from the developers for a 15-year enterprise zone program.
Under the enterprise zone agreement plan, 100 percent of the property taxes for the new construction will be abated for the first 10 years, and 50 percent of the property taxes will be abated for the next five years. The enterprise zone only covers the new construction. The mall owners will continue to pay property taxes on the land, which has a tax value of $503,000.
The developer also has agreed to pay Perkins Schools a $100,000 payment in lieu of taxes within 90 days of the enterprise zone package receiving final approval.
“This agreement serves a dual role in supporting development in our area while protecting our local interests at hand,” Mr. Boggs added.
The school district, as well as the Perkins Township trustees, have approved the enterprise zone. The tentative agreement now will go before the Erie County Commission for its consideration.
Tim Coleman, chairman of the Perkins Township Trustees, said the schools, township, and the owners of the Sandusky Mall worked diligently to ensure that the project becomes reality.
“This project will provide many new housing units that will provide more than just a new home but will also serve to bolster business prospects at the Mall as well as in our commercial district on U.S. Route 250,” Mr. Coleman said.
Gary Boyle, the township administrator, added that the current Mall plan and the abatement deal were the result of several meetings among all parties. The development is expected to have a positive impact on the community for years to come – and long after the abatement expires.
“The ownership of the Mall has invested millions in reconfiguring the Mall to reflect the current needs of retailers and to attract new businesses,” Mr. Boyle said. “This project will result in the largest new residential development in the township in a long time.
Construction is slated to begin in October or November 2021, and employ up to 240 construction workers with an annual payroll of an estimated $4 million over the two-year construction period.
The developers estimate that the total construction cost of the development will be a maximum of $13 million and there will be an estimated $330,000 invested in furnishings and fixtures.