The city of Columbus and Columbus Regional Health’s purchase of the Fair Oaks Mall property is complete.
The city of Columbus partnered with Columbus Regional Health and Heritage Fund: The Community Foundation of Bartholomew County to offer to purchase the more than 35 acre site for $5.9 million. Heritage Fund: The Community Foundation of Bartholomew County offered $450,000 in assistance after a pair of appraisals put the value of the site at approximately $5.45 million. By law, cities and municipalities are not allowed to purchase property for more than it appraises for.
Mayor Jim Lienhoop says the goal is to create an indoor sports facility for the parks department, enhanced by an on-site a CRH facility. The specifics of how and what the site will be developed into has yet to be established. That work is expected to begin in earnest early next year.
The city council created the non-profit group, Fair Oaks Community Development Corporation to handle the transaction and to manage of the site.