Thor Equities Proposes $1 Billion Data Center Campus in Ohio, Faces Zoning Uncertainty
April 23, 2026
Real estate developer Thor Equities is moving forward with plans to build a 460,000-square-foot data center campus near Urbana, Ohio, though the project’s future is clouded by a local move to repeal the zoning ordinance that would allow it. The proposed development, dubbed the Urbana Technology Hub, underscores the growing tension between the surging demand for data center infrastructure and local resistance to such projects in communities unaccustomed to large-scale tech facilities.
The project came to light after a local newspaper reported that Thor Equities had acquired a 47.6-acre parcel at the intersection of State Route 55 and US Route 68, adjacent to a factory operated by Rittal, a German manufacturer of electrical enclosures. A statement regarding the proposal was later read during a city council meeting in February. Thor has since launched a dedicated website for the Urbana Technology Hub to maintain transparency throughout the planning process.
According to a project overview document issued by the City of Urbana, the campus is expected to consist of a single, one-story building rising approximately 40 feet. Thor Equities has stated that the facility will employ closed-loop cooling technology and will not affect local utility rates. The company also emphasized that the end-user will bear the full cost of necessary grid and transmission upgrades, though the identity of any potential tenant has not been disclosed.
The total investment for the project is estimated at around $1 billion, with Thor claiming it will generate approximately $6 million in annual tax revenue for the City of Urbana and its local schools. However, the Urbana City Council voted unanimously yesterday in favor of a motion to begin repealing the zoning ordinance that currently permits data centers as a permitted use on land zoned as light industrial. It remains unclear how this decision will impact Thor’s plans if the repeal proceeds.
Founded in 1986, Thor Equities has historically focused on retail, residential, and industrial properties across the U.S., Europe, and Latin America. Its data center developments are managed through its Form8tion unit, which was established in March 2023. The company also acquired land in Van Wert County, Ohio, last August, signaling a broader push into the state’s data center market. The Urbana project highlights the increasing friction between the rapid expansion of digital infrastructure and local zoning and regulatory frameworks, a dynamic that is likely to shape site selection and development timelines across North America.
Source: datacenterdynamics
