More than 20 years ago, a floodwall was built along the Scioto River to protect the Franklinton neighborhood, on the west side of Downtown Columbus, Ohio. Designed by Burgess & Niple (B&N) and the U.S. Army Corps of Engineers (ACOE), the seven-mile-long structure helped protect the area from flooding and eliminated the need for residents and businesses to purchase flood insurance in the Franklinton and Scioto Peninsula neighborhoods.
The floodwall's impact, however, extends beyond addressing insurance concerns. It increased the land values that define the area today and paved the way for the area's revitalization and economic growth. This includes the estimated $250 million Phase I redevelopment of East Franklinton that will be home to new residential, office, commercial and hotel space, with more than $1 billion of development anticipated to follow. Additional enhancements to the downtown area that have played off the floodwalls' establishment include the revitalization of Whittier Peninsula with the Scioto Audubon Metro Park, reconstruction of the Rich Street Bridge, the development of the Scioto Mile Park and more.
This panel discussion will cover the process needed to get funding for the floodwall, its return-on-investment for the ACOE and how to overcome site-readiness issues in order to spur economic development growth in the short and long term. This will include identification of key site-readiness concerns for development, how to turn these site-readiness issues into assets and potential funding assistance that is available to assist in completing this conversion.