TIFFIN, OH (WTOL) - Just a little more than a year after annexing 60 acres of farmland, the city of Tiffin has announced a new development on that property.
"We all hear the talk of Industrial park. This essentially is a commercial/healthcare park in the city of Tiffin, and we are doing our part to drive development," said Tiffin Mayor Aaron Montz.
Thursday, Trilogy health services announced they are building a $14.5 million ,seven-acre senior living center along US 224 across the street from Mercy Hospital.
The 60 acre plot of farmland was acquired by the city of Tiffin to give the area some more economic development wiggle room.
Economic Development leaders said it was perfect timing, as practically all possible space to develop along nearby West Market Street has been taken.
"West Market is completely full, and where are we going to go next, right? So, this really opens up land for a lot of different kinds of uses and opportunities, and really allows Tiffin to grow and we think that is particularly," said David Zak, President/CEO of SIEDC.
Tiffin Mayor Aaron Montz expects the announcement to be the first of many, as more than 50 acres remain on the mix use site.
To facilitate more development, the city will be building Progress Parkway, and install all electric and utility access.
And because the land is being upgraded from farmland to commercial, the city will use tax increment financing to pay for the construction.
"So, it will not cost the city much of anything out of general and capital funds. We will be able to pay for the road out of the increased land values with the new businesses that are locating on that site." said Montz.
Tiffin plans on having that new road in this development finished by the end of the calendar year.
Groundbreaking for the new senior living center will happen some time in May.