Paul Bailey - Realtor w/Leonard & Newland Real Estate Services

09/25/2026

Great to see an older downtown property being given a new purpose in Cambridge.

I’ve had quite a bit of discussion recently about developing new land versus finding new uses for existing properties. Midtown Market is a good local example of what can happen when an existing building is in the right location and the numbers work for redevelopment. Not every older property can economically accommodate a modern business, particularly large industrial users, but projects like this show there can also be significant opportunities in the buildings and neighborhoods we already have. Projects like this are a good reminder that economic development doesn’t always have to mean building something new. Sometimes the opportunity is already there, waiting for someone to give an old property a new purpose.

09/22/2026

A major industrial development is quietly taking shape along State Route 16 near Frazeysburg.

The New Albany Company is actively developing approximately 664 acres in western Muskingum County as the Graham Farm Business Park. The company is the developer behind the New Albany International Business Park and is working with the State of Ohio and the Zanesville-Muskingum County Port Authority to prepare the property for large-scale industrial development.

One of the biggest pieces of the project is infrastructure. The State of Ohio awarded approximately $20.7 million through the All Ohio Future Fund to help develop public water and wastewater infrastructure serving more than 600 acres in the Frazeysburg development area. The investment is intended to prepare the site for future business and industrial development.

Graham Farm already has some impressive infrastructure available or planned, including 138kV and 765kV AEP transmission lines, a high-pressure natural gas line, State Route 16 access, rail access, fiber availability and new water and wastewater infrastructure. The New Albany Company is marketing shovel-ready industrial sites ranging from approximately 50 to 200 acres.

Those specifications could make Graham Farm attractive to advanced manufacturing, automotive or battery-component manufacturing, food and beverage production, semiconductor-related suppliers and other industries requiring substantial electricity, natural gas, water or wastewater capacity. Warehousing and distribution are possibilities as well, although those operations generally don't require this level of utility infrastructure.

A data center is another possible use. Large electrical transmission lines, fiber availability, utility capacity and hundreds of acres are characteristics that can be attractive to data-center developers. The New Albany Company's development activity elsewhere in central Ohio has been associated with significant data-center investment, but no data center, manufacturer or other specific company has been publicly announced for Graham Farm.

Infrastructure planning and development are already underway, with the new municipal water treatment plant currently projected for completion in 2028. A company could potentially begin site development and construction while that infrastructure is being built, allowing the timelines to overlap. At this point, however, no specific company or construction start date has been publicly announced.

While Graham Farm itself is being developed as an industrial business park, a development of this size could eventually have an impact on residential real estate throughout the surrounding area. If the park attracts one or more large employers, those workers will need somewhere to live, potentially increasing housing demand in Frazeysburg, Dresden, Nashport, Zanesville and other nearby communities.

Economic development can bring jobs and investment, but additional employment and housing demand don't necessarily lead to lower home prices, particularly when the supply of housing doesn't grow fast enough to meet that demand.

As Muskingum County continues to grow and attract new investment, if you're thinking about buying or selling a home, .

Paul Bailey
Realtor
Leonard & Newland Real Estate Services

For more information about Graham Farm Business Park:

https://newalbanycompany.com/communities/frazeysburg/

08/27/2026

An interesting approach to creating more housing while redeveloping an old industrial property.

Construction has started on a $46 million redevelopment of a vacant factory in Tupper Lake, New York, which will create 80 affordable apartments and more than 25,000 square feet of commercial space.

The project is being financed through a combination of private investment and public programs, including approximately $17 million from Low-Income Housing Tax Credits, $10 million from historic tax credits, and additional state development funding.

Rather than demolishing an old industrial building, they’re using housing incentives and historic tax credits to give it a completely new purpose.

We have plenty of older and underutilized buildings throughout Ohio. It would be interesting to see more projects like this become financially feasible in our communities.



Paul Bailey
Realtor
Leonard & Newland Real Estate Services

Governor Hochul announced the start of construction on the former Oval Wood Dish Factory, a $46 million, 80-unit mixed-use affordable development in the village of Tupper Lake, Franklin County.

08/26/2026

More housing is coming to Zanesville.

Phase 3 of Kensington Village Apartments is now under construction and will add 40 new apartment homes to the community. Construction began in March, with the first units expected to become available in early 2027.

With housing supply and affordability continuing to be important issues, it’s good to see additional housing options being developed here in Zanesville.



Paul Bailey
Realtor
Leonard & Newland Real Estate Services

08/13/2026

Always a pleasure working with you guys. I appreciate the thorough job you do for my clients and keeping everyone informed throughout the process.

Thank you to our clients for choosing Adkins Home Inspection LLC, and a special thank you to 𝗣𝗮𝘂𝗹 𝗕𝗮𝗶𝗹𝗲𝘆, REALTOR for the recommendation!

07/22/2026

After walking through the property with the inspector, now it's time to review the full report. The more you know, the better decisions you can make. A thorough inspection helps buyers move forward with confidence and start homeownership on the right foot.

Grateful to our clients for letting us inspect their prospective property, and a special nod of thanks to 𝗣𝗮𝘂𝗹 𝗕𝗮𝗶𝗹𝗲𝘆, REALTOR for making this collaboration happen.

📍 Location: Zanesville, OH

07/19/2026

“In Ohio, every building has a story. When those stories come to an end, those properties still have one final purpose: making way for something better,” said Director Mihalik. “By helping our communities remove these long-neglected structures, we're creating opportunities for new investment, new housing, new businesses, and a stronger future for the people who call these neighborhoods home."

Every community deserves places that inspire pride and create opportunity. By helping remove long-vacant, unsafe buildings, we're giving local leaders the chance to reimagine these properties in ways that strengthen neighborhoods, attract investment, and improve quality of life for the people who call Ohio home.

➡️https://bit.ly/4bueZwE

07/17/2026

Property Taxes:
Keep Them, Cut Them, or Eliminate Them
What Should Ohio Do?

For homeowners, property taxes are included in the monthly mortgage payment through an escrow account, meaning higher taxes can significantly increase the monthly cost of owning a home. Even after a mortgage is paid off, property taxes and homeowners insurance continue, making it more difficult for many retirees and others living on fixed incomes to remain in their homes.

Renters are affected as well. Property taxes are one of the operating costs of owning rental property, so increases in those taxes contribute to higher rents. While many factors influence rental prices, property taxes are one of the costs property owners must account for.

Property tax reform is not a new discussion. Several states have adopted different approaches to reduce the burden on homeowners while continuing to fund schools and local services.

California's Proposition 13 limits annual increases in a property's taxable value until it changes ownership, giving homeowners more predictable tax bills. Florida's Save Our Homes amendment limits annual increases in assessed value for many owner-occupied homes. Other states, such as Tennessee, rely more heavily on sales taxes and do not have a state income tax, while Texas has no state income tax but continues to rely heavily on local property taxes to fund schools and local government. Every state has taken a different approach, each with its own advantages and trade-offs.

Economist Art Laffer has argued that taxing ownership through property taxes is one of the least efficient ways to generate government revenue because it taxes people simply for continuing to own property. He has advocated shifting more of the tax burden toward economic activity and economic growth while reducing taxes on ownership. His view is that policies encouraging investment, business expansion, and job creation can broaden the tax base and generate enough revenue to help fund schools, police, fire departments, roads, and other local services without relying as heavily on continually increasing property taxes.

Property taxes have also become a major issue in Ohio's race for governor. Both Vivek Ramaswamy and Amy Acton, candidates for Ohio's next governor, agree that property taxes have become a growing challenge for many Ohioans, although they have proposed different approaches to reforming the system.

The video below is Vivek Ramaswamy sharing his perspective on Ohio's property tax system and why he believes it should be changed.

No matter where you stand on the issue, it's an important conversation that affects every Ohioan, whether you own a home, rent a home, own a business, or hope to buy property in the future.



Paul Bailey
Realtor
Leonard & Newland Real Estate Services

https://www.facebook.com/share/v/1Bm5LLaN1q/

07/15/2026

I recently listened to an interesting episode of The Real Estate Guys Radio Show about an investment strategy that doesn’t get as much attention as residential rentals: commercial flex space with triple-net leases.

Flex space typically combines warehouse or storage space with an office, showroom, or workspace. These properties can be used by contractors, small businesses, distributors, service companies, and many other types of businesses.

With a triple-net lease, the tenant typically pays the property taxes, insurance, and maintenance expenses in addition to rent, which can make ownership more predictable and less management-intensive for the investor.

What I found interesting about the episode was the idea that smaller flex spaces can give everyday investors an opportunity to get into commercial real estate without buying a massive industrial property or making a seven-figure investment.

Interested in exploring residential, commercial, or other real estate investment opportunities in our area? Send me a message, and let’s see what’s available.



Paul Bailey
Realtor
Leonard & Newland Real Estate Services

Podcast Episode · The Real Estate Guys Radio Show - Real Estate Investing Education for Effective Action · June 14 · 48m