log in to manage your profile and account
- Create your account
- Receive up-to-date newsletters
- Set up text alerts
Published: Saturday, March 26, 2016 @ 8:25 PM
Updated: Sunday, March 27, 2016 @ 1:08 PM
An oceanfront mansion Donald Trump sold to a Russian billionaire for $95 million in 2008 is going to be torn down.
The demolition of the estate, which was the largest single residential sale ever in Palm Beach, Florida, was approved this week.
Long before he became the 2016 Republican presidential front-runner, Trump purchased the mansion in 2004 at a foreclosure auction for $41.4 million. He then renovated the property before selling it to fertilizer mogul Dmitry Rybolovlev in July 2008, five months before the Great Recession hit Palm Beach.
The Architectural Commission green-lighted the demolition in a 4-3 vote.
Commissioners were not given specifics about what is being planned at the property, which measures 6 acres with 475 feet of oceanfront views.
But sources familiar with the estate told Palm Beach Daily News that it may be subdivided and redeveloped into two or three houses.
The main house encompasses about 62,000 square feet. Outbuildings bring the total square footage to 81,738, according to property records.
Landscape architect Lynn Bender told the board that once the demolition was complete, the lot would be resodded until plans for it were finalized. Only the perimeter walls, fences, access gates, columns and small portion of main entry driveway will be retained. A fountain at the main entrance also will be removed.
Over the past several years, the estate was among the disputed assets in contentious divorce proceedings, stemming from 2009, between Rybolovlev and his ex-wife, Elena. Last June, a Swiss judge reduced her $4.8 billion payout to about $604 million, but the couple reportedly settled for an undisclosed amount said to be close to $1 billion. Details were also not disclosed about whether ownership of the house had changed.
Commissioners discussed the project for about 25 minutes Wednesday. Newly-elected chairman Richard Sammons recused himself from the agenda item because of conflict, although he did not provide specifics as to why.
Anthony Mauro, of Mauro Brothers LLC, spoke on behalf of the owner’s representatives at the meeting.
A carriage house built in the 1930s is the oldest building on the property. The French provincial-style main house, finished by Gosman in 1988, has one story and a basement. “The house is in relatively good shape,” Mauro said.
Commissioner Michael Small said he was given a tour. “It truly is an exquisite property,” he said.
Mauro said there are a number of people interested in buying it.
Published: Friday, December 08, 2017 @ 4:59 PM
Updated: Wednesday, January 17, 2018 @ 4:23 PM
— The sale of area and Ohio Bob Evans restaurant properties continues.
A New Albany outfit has purchased the property housing the Centerville-area Bob Evans restaurant for $2.5 million.
The 4,992-square-foot building and 1.25-acre site at 7115 Far Hills Ave. was sold to Timothy P. and Paula S. Heather, of New Albany, Ohio, according to Montgomery County property records.
The new owners give the same address as the Bob Evans headquarters in New Albany.
The local franchise food site was built in 1986.
Bob Evans has been restructuring its business and selling its restaurants quickly. Back in May, a trio of Dayton-area Bob Evans restaurants sold for a total of $5.6 million.
At the time, Bob Evans Farms Inc. had divided its business by keeping its food production side and selling off its restaurant chain to private equity group Golden Gate Capital.
Bob Evans Farms, Inc. said in January it intended to sell off its restaurants to focus on packaged foods.
Published: Tuesday, December 19, 2017 @ 11:24 AM
A vacant building in downtown Springfield that was nearly torn down has received $2 million in state historic tax credits that will be used to renovate it for apartments.
The total cost to renovate the Edward Wren Co. Building, more recently known as the McAdams Building, will be more than $15.3 million, according to the Ohio Development Services Agency.
The property at 31 E. High St was built in 1921 as a department store and bank in the heart of downtown Springfield, according to its tax credit application. It will be revitalized as 28 market-rate apartments with a ground floor restaurant space, the state agency says.
The project is one of 22 historic sites in 11 communities to share more than $28.3 million in Ohio Historic Preservation Tax Credits.
Published: Friday, December 08, 2017 @ 12:00 AM
SPRINGBORO — Residents of a local golf-course community appealed to the Springboro City Council on Thursday to reconsider the proposed rezoning of neighboring land for residential development.
The residents of the 212-home Heatherwoode community spoke during a public hearing on rezoning of 2.3 acres at 1360 S. Main St., just north of the entrance to the community, featuring the city-owned golf course.
RELATED: Residents opposing rezoning
The property owners, the Daniel Family Trust, are seeking rezoning to allow the development of a 7-lot subdivision at a density, following the dedication of 0.22 acres of right-of-way along South Main Street, of 3.29 units per acre.
Streets on each side of the proposed development have seven homes backing onto the property “no more and no less than we request,” said Rebecca Geiger, representative for the property owners.
Two councilmembers, Carol Moore and Becky Iverson, live in the development but did not comment.
The Heatherwoode Homeowners Association presented more than 100 signatures on petitions presented to the council at the public hearing.
Residents are concerned about the effect on their property values, and traffic and safety at rush hours and when school lets out across Ohio 741, Main Street in Springboro, at the junior high school.
Joe Westendorf, a Heatherwoode resident, said another road would have to be built for the development because the property owners declined to join the Heatherwoode community and be accessed by existing roads in the community.
“They had an opportunity,” he said. “So now we’re going to have one more road.”
Association President Shawn Hunter said he discovered the proposed rezoning late last month when driving to the Christmas In Springboro festival.
“We really exist to preserve the community. Part of that is preserving the property values,” Hunter said.
City Manager Chris Pozzuto said it was uncertain how the development would affect property values.
“I can say generally, however, that historically, through many developments around the town, property values in Springboro have always increased over time,” he said before the meeting.
Residents are also concerned about the effect on tree lines and creeks shared by the developments.
Mayor John Agenbroad, who lives on South Main across the street from Heatherwoode, recused himself from the issue and left the meeting during the public hearing.
“I am one of the property members affected. I will not be involved whatsoever,” Agenbroad said during a work session before Thursday’s public hearing.
Published: Monday, November 27, 2017 @ 12:19 PM
LEBANON — The Warren County Board of Commissioners is expected to vote on Tuesday on the proposed annexation of more than 220 acres, including the former Peters Cartridge Factory, by the Village of South Lebanon.
The annexation would enable the developer Bloomfield/Schon to avoid property taxes on improvements made through the $25 million redevelopment project to the Kings Local Schools.
RELATED: History of old ammunition factory
The area to be annexed by South Lebanon covers more than 222.7 acres, running from the existing village limits south down the riverfront bike path to US 22 and Ohio 3 and up the hill from the Peters Cartridge redevelopment site to a 67-acre farm.
Plans for more than $34 million in construction along the Little Miami River, including a new $9.5 million bridge, hinge on approval of annexation of the 14-acre Peters Cartridge Factory property and the other land by South Lebanon.
Developer Bloomfield/Schon is planning to convert the historic complex, where ammunition was made for almost a century, into 128 loft apartments, office space and a restaurant.
The development site is along the east bank of the Little Miami River. It fronts on a stretch of the multi-use trail along the east bank of the river. It was the site of a U.S. EPA cleanup.