Ohio State ready for next phase of Carmenton district

A rendering of Carmenton with the Pelotonia Research Center on the right

Ohio State ready for next phase of Carmenton district

Global developer Tishman Speyer to help implement innovation district plan with spaces to live, play and innovate

The Ohio State University announced today the next steps in the planning and development of the Carmenton districtpending full Board of Trustees approval, with the board expected to vote on Nov. 20. Carmenton, the university's innovation district, is a bold new vision for building connections and community and will fuel growth in central Ohio, one of the nation's fastest-growing regions.

Carmenton's momentum and next phase of growth is moving forward. An overview of this vision was presented today to Ohio State's Master Planning and Facilities board committee and will be discussed at tomorrow's Finance and Investment board committee. The university's Board of Trustees will vote on several items on Nov. 20, including a master agreement that Ohio State will join between the university-affiliated Science and Technology Campus Corporation(SciTech) and global real estate company Tishman Speyerto develop the next phase of Carmenton. Tishman Speyer previously helped develop Carmenton's master plan.

"Partnerships are the foundation of our vision for the future. A vibrant ecosystem is already developing in Carmenton where businesses, researchers and our communities are coming together to drive new discoveries and fuel economic growth," said Peter Mohler, executive vice president for the Enterprise for Research, Innovation and Knowledge at Ohio State. "We are excited to move to the next phase of this transformative development in collaboration with Tishman Speyer, SciTech, the city of Columbus and state of Ohio."

Carmenton is bolstered by investment - including nearly $900 million of public and private support to date and more than 350 acres of land re-imagined for development. Ohio State, the city of Columbus and JobsOhio have come together to accelerate collaboration between the public, private and academic sectors in this vibrant new neighborhood that facilitates the exchange of knowledge to help deliver solutions to market and the world. Ohio State's board also reviewed a ground lease from Ohio State to SciTech, allowing SciTech to develop infrastructure to expand the district, and sublease two vertical development parcels to Tishman Speyer for mixed-use development.

Tishman is a global owner, developer, operator and investment manager of best-in-class real estate in 36 key markets across the United States, Europe, Asia and Latin America.

"This agreement between Ohio State, SciTech and Tishman Speyer is the next step in the creation of an innovation district unlike any other," said Amanda Hoffsis, president of SciTech. "We have very high expectations for Carmenton and its long-term impact on the city of Columbus, the state of Ohio and the region. As a renowned and globally recognized developer, we believe Tishman Speyer is the right partner to help deliver on the vision."

In the long term, Carmenton will add residential areas, green spaces, connector trails, restaurants and entertainment venues. It will be a walkable and bikeable neighborhood that will feel like home to the people who work in, live in or visit the district.

Already underway, Carmenton's first phase includes the Energy Advancement and Innovation Center, as well as the Pelotonia Research Center and The James Outpatient Care, all located along Kenny Road. The board approved a ground lease to SciTech to build the Commercialization and Entrepreneurship Center in May of 2024. In conjunction with Framework 3.0, Ohio State's long-term planning vision, a corresponding master plan for Carmentonwas developed. This outlines the next phases of development, including additional interdisciplinary research facilities, with a focus on bringing multiple sectors together to exchange knowledge, understand problems and develop new technologies or solutions for the market and the world.

Tishman Speyer has supported the world's leading companies, institutions and cities by delivering more than 77 million square feet of mixed-use development and redevelopment projects globally since 2010. The well-known developer focuses on community-building, architecture, sustainability, healthy live-work environments, open spaces and hospitality-infused amenities.

"At Tishman Speyer, we are dedicated to creating vibrant, welcoming and innovative communities that complement and enhance their surrounding neighborhoods," said Tishman Speyer Managing Director Nooshin Felsenthal. "We are thrilled to bring that dedication to Carmenton and build upon the incredible work of The Ohio State University and SciTech."

Tishman Speyer projects include the redevelopment and ongoing stewardship of Rockefeller Center in New York City and Mission Rock, a new, 28-acre mixed-use neighborhood on the San Francisco waterfront developed in partnership with the San Francisco Giants. The firm is also partnering with the Harvard Allston Land Company on the Enterprise Research Campus across 14 acres in Allston, Massachusetts, and with Carnegie Mellon University and The University of Pittsburgh to transform Hazelwood Green, a 178-acre former steel-mill site into a global hub of innovation, science and community.

Once this agreement is in place, Ohio State, SciTech and Tishman Speyer will begin working on the next phase of Carmenton.

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