Clients and Business Partners
- ARCIS Capital Partners
- Ariston Group, LLC
- O’Connor Capital Partners
- Fortress Investment Group
- Market Street Properties
- Price Development Group
- The 1220 Group
- SHD Development
- South Point Retail Partners
- RCI Marine
- North American Properties
- Nicholas Properties
- Franciscan University
- Flagler Development
- DeBartolo Development
- Comvest Properties
- Viking Companies
rconti@racoadvisors.com
Case Study
Franciscan Square
Steubenville, OH
125,000 square foot mixed-use development
13-acre development includes:
academic
hospitality
restaurants
medical
Major Tenants
The Inn at Franciscan Square, a Best Western Plus Hotel
Bennigan’s Restaurant
Rubi’s Pizza and Grille
Brooklyn Bagels
Brief Description
Built on what was once referred to as “the Green Strip,” Franciscan Square replaced several abandoned and dilapidated buildings, improving visitors’ first impression of the city and laying the foundation for further growth in Steubenville and surrounding communities.
After years of planning, construction on Franciscan Square began in May 2015. A new Best Western Plus hotel (Inn at Franciscan Square) fueled the development. Construction of the hotel was completed in October 2016.
In addition to the hotel, and with the help and cooperation of the city and school board officials, Franciscan Square also features a public space containing several restaurants and retail space.
Plans are being explored to expand the existing project with multi-use event center and office space.
Challenges
Severe grades and unstable soil conditions required creative civil and architectural design
Aggressive construction deadline required to accommodate university-sponsored events and student housing requirements
Identified local and broader economic impacts
Solidified the university as the project’s sponsor
Services Provided
Owner representation
Advisory and consulting role during strategic planning phase
Retained by university as Phase 1 fee developer
Proposed Phase 2
Approximately 20-30,000 square feet of office space and a multi-use event center
Tenants – tbd
Opening date – tbd
Services Provided
Advisory Services
Consulting Services
