Licking County Commissioners, during a December 11 meeting, approved the issuance of development revenue bonds to finance public infrastructure for the Heath Central Park Apartments under development by Wallick Communities.
According to the meeting agenda, the Heath-Newark-Licking County Port Authority requested assistance from the Columbus-Franklin County Finance Authority to issue the bonds from the Central Ohio Regional Bond Fund. The bonds are intended to finance the acquisition, construction, improvement, and equipping of public infrastructure improvements for the project.
A release from Senator Tim Schaffer (R-Lancaster) in January indicated that the Ohio Tax Credit Authority granted a $5.8 million tax credit for the second phase of the Heath Central Park project. The development near the Newark Earthworks will include 24 multifamily residential buildings, assisted living facilities, public spaces, and year-round recreational facilities.
Schaffer's release said that the project will create 376 permanent jobs at the site and support 575 construction jobs.
Wallick Communities reported in a release in 2024 that its project received $4.1 million in tax credits from Ohio's Transformational Mixed-Use Development program. Wallick said more than 580,000 square feet of space will be constructed in phase II.
According to Wallick's release, the first phase included four mixed-use buildings, one clubhouse, and eight multifamily buildings with 424 residential units. Wallick mentioned that Central Park will feature 42,000 square feet of commercial space with shops, offices, restaurants, and breweries anticipated.
