Nationwide Realty Investors Ltd. has the first housing planned for its massive Jerome Village project northwest of Dublin after the approval of a water and sewer agreement between a new community development authority and Marysville.The real estate development affiliate of Nationwide Mutual Insurance Co. has agreed to finance and build the first phase of water and sewer lines and other infrastructure to serve nearly 1,500 acres planned for Jerome Village as well as 3,000 adjacent acres.
“This is a significant milestone,” said Nationwide Realty President Brian Ellis. “It allows us to begin the utility infrastructure back toward Marysville.”
Ellis said the developer also will begin building out 130 lots for the first phase of Glacier Park, the first neighborhood planned for Jerome Village. It takes its name from the adjacent Glacier Ridge Metro Park.
Plans call for Jerome Village to have 2,500 housing units and 1 million square feet of commercial space.
Ellis said “numerous builders” have shown interest in buying lots despite the slump in the housing industry.
“We’ve had a surprisingly high level of interest,” Ellis said. “Many of them are ready to get back to work.”
Bonding the community
Marysville City Council last month approved the utility agreement with the Jerome Village Community Authority, allowing it to begin the $10.3 million first phase of water and sewer system improvements.
Union County commissioners approved tap fees on June 3rd that the authority can charge to commercial and residential developers in its service area to recoup the cost of the improvements. Ellis said Nationwide Realty will buy bonds that the authority will sell to finance the initial projects.
“It’s a significant investment,” Ellis said, “but we think (Jerome Village) has tremendous potential.”
The improvements include a mile of water line along Industrial Parkway and a two-mile stretch from the intersection of Routes 42 and 33 to the Brock Road residential development site west of Hyland-Croy Road. Those lines will be transferred to Marysville to operate when they are completed.
The agreement also calls for the community authority to build a vacuum sewage collection system, initially just within Jerome Village, and a sewage pump station in addition to 4.2 miles of sewer lines back to the city’s sewage treatment plant that opened a year ago. The city will own the pump station but the community authority will own and manage the collection system as a bulk customer.
The authority also will serve as the billing agent for residents and businesses served by the system.
Nationwide Realty will manage con- struction of the improvements for the community authority.
Ellis said contractor Nickolas Savko & Sons Inc. is scheduled to begin construc- tion on the water and sewer lines within 30 days.
Marysville City Administrator Jillian Froment said the agreement ensures the city gets a large customer for its expanded sewage treatment plant. Marysville also opened a new water reservoir north of the city last year and plans to expand its water plant.
“We built that (water and sewer) capacity so we could grow as the regional service provider,” Froment said.