The Columbus Metropolitan Housing Authority recently approved $125 million in combined investments that will fund the acquisition, preservation or new development of 451 affordable housing units, expected to serve more than 900 central Ohioans.
The public housing agency's board of commissioners announced approval of the investment package on July 28, providing developers with access to funds that can make it easier to deliver high-quality housing at lower rents, according to a CMHA press release. The agency plans to invest the funds into four separate projects, which together will benefit roughly 935 residents.
“Preserving and expanding affordable housing requires bold financial innovation,” Scott Scharlach, CMHA's chief operating officer, said
in the release. “By developing new funding strategies, leveraging creative partnerships, and unlocking untapped capital, we can protect existing communities while creating lasting opportunities for generations to come.”
The largest chunk of the money, almost $56 million, will be used to purchase and redevelop the former Garver YMCA site at 1827 Livingston Ave, with plans to build a 216-unit, mixed-income and workforce housing community. Workforce housing refers to housing for people with incomes that are too high for traditional, subsidized affordable housing but too low to comfortably afford market-rate housing in their communities.
The new development is slated to open in 2028 and benefit an estimated 540 residents.
CMHA referred to its investments as a response to the region's affordable housing crisis, citing Affordable Housing Alliance of Central Ohio data that shows there are only 29 units available for every 100 extremely low-income households. Central Ohio also faces a deficit of between 11,000 and 14,000 new housing units every year to support a healthy housing market, according to data referenced in the release.
The other properties in which CMHA plans to invest its recently approved funds are:
Commons at Livingston, located at 3349 E. Livingston Ave., will provide 50 affordable housing apartments to Franklin County veterans with disabilities. CMHA is allocating $10.7 million to the project and will provide federally funded Project-Based Vouchers for all 50 units for 15 years to ensure rents remain affordable through 2040.
The housing agency will spend $36 million to finance a complete renovation of The Meadows, located at 4855 Pintail Creek Drive in Canal Winchester. A full-scale refurbishment of the 95-apartment home community will provide 255 residents with quality affordable housing.
Through a partnership with Lutheran Social Services and TFG Housing Resources, CMHA will also provide $27 million to renovate North Community Place and Village Place, two senior housing communities at 120 Morse Road and 1489 October Ridge Court, respectively.
Lastly, CMHA will allocate almost $56 million to purchase and redevelop the former Garver YMCA site at 1827 Livingston Ave, with plans to build a 216-unit, mixed-income and workforce housing community. Workforce housing refers to housing for people with incomes that are too high for traditional, subsidized affordable housing but too low to comfortably afford market-rate housing in their communities.
The new development is slated to open in 2028 and benefit an estimated 540 residents.
"Together, the board actions approved [in July] reinforce CMHA's dual commitment to expanding affordable housing opportunities while preserving the history and quality of neighborhoods that have shaped Columbus for generations," the release states.
Reporter Emma Wozniak can be reached at ewozniak@dispatch.com or @emma_wozniak_ on X, formerly known as Twitter.
This article originally appeared on The Columbus Dispatch: Columbus Metro Housing Authority approves $125M in affordable housing funds
