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Developer buys land for $300M project

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By Chelsey Levingston, Staff Writer 3:51 PM Friday, February 3, 2012

LIBERTY TWP. – Steiner + Associates has purchased its first tract of land for its multimillion dollar office, retail and residential development project.

Steiner closed Tuesday on a deal to buy about 50 acres for $8 million, according to the Butler County Auditor’s Office.

The purchase - part of Liberty Town Square, a development estimated to cost $300 million - was made the day after Butler County commissioners approved an agreement with the developer on tax incentives.

The site, next to the interchange of Liberty Way at Ohio 129 and Interstate 75, has about 100 acres for the project, according to Liberty Twp. More purchases are expected. The company declined comment due to a confidentiality agreement.

Liberty Town Square is a mixed-use project modeled after other Columbus-based Steiner projects at Easton Town Center in Columbus and The Greene in the Dayton area. The first phase of the project, approximately 1 million square feet, could start construction at the end of this year or early 2013, Steiner has said.

It is estimated the development would create approximately 4,500 permanent jobs, according to Steiner.

County commissioners approved a memorandum of understanding Monday between Butler County, Liberty Twp. and the developers calling for the county to fund $30 million and the township $5 million through tax incentives for infrastructure-improvement costs. Liberty Twp. agreed to the same deal on Friday.

Contact this reporter at (513) 705-2551 or clevingston@coxohio.com.

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