$500M overahaul for Big Bear site

Nationwide Realty Investors Ltd. and Equity Inc. may spend more than $500 million developing commercial and housing projects in Grandview Heights in the next decade.

Under a conceptual plan unveiled Dec. 19, the companies would develop 600 to 800 condominiums or apartments among up to 2 million square feet of office and retail development at the site of the former Big Bear Stores Co. complex and neighboring properties.

The Nationwide Realty executive who oversaw creation of the mixed-use district surrounding Nationwide Arena in Columbus sees similarities in the two projects.

“We see this as a natural extension of what we’ve done in the Arena District,” said Nationwide Realty President Brian Ellis. “We have a lot to do, but we have the capacity for another large project.”