NORWOOD, Ohio - Officials from the city of Norwood and the project development team celebrated the groundbreaking of the Rookwood Exchange on Monday afternoon.
Site work on the 12-acre development began on Monday.
The new development will include a 15,000 square foot retail building along Edwards Road, and a 230,000 square foot retail/entertainment/office building. It will also include two 9,000 square foot restaurants as well as a parking garage that will hold 750 cars.
The $20 million Courtyard by Marriot hotel is also included, and is expected to open in spring 2013.
Traffic problems are an issue with this exchange, with one side in Oakley and the other in Norwood.
"There's always going to be traffic, because that's the name of the game," said Jeffrey Anderson, CEO of Jeffrey Anderson Real Estate. "But as far as impacting the residents, I think we've go a great traffic plan that's going to make everything work for everybody and yet provide a fantastic project."
A controversial eminent domain battle held up the plans for several years.
U.S. Bank is financing the project, and Schumacher Dugan is overseeing the construction work.
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