The Columbus Metropolitan Housing Authority approved the acquisition of several new housing projects at its board meeting last week.
The board moved forward on the purchase of a two-story office building built in 1998 at Spring and Grant streets for $4 million from the Godman Guild.
It's unclear what the building will be used for, but CMHA President and CEO Charles Hillman said it is in a good location and might make for good office space.
"(This year) is going to be CMHA's largest year in terms of acquisitions and development and construction," said CMHA's Chief Operating Officer Scott Scharlach.
The board added about 600 new units of housing to CMHA's portfolio, bringing their total number up to about 6,000, worth about $1 billion.
CMHA's board approved an application seeking low-income housing tax credits to help pay for a $29 million project, Aspire Columbus, at the site of the former United Way headquarters on South Third Street.
Eighty-two apartments will be available to residents in a mix of income levels. Some will pay market rates and subsidize the units reserved for people who make less than the area median income. Construction is scheduled to start next year.
Hillman praised the project. He said in addition to adding more affordable housing, the planned building looks good too.
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The board approved the purchase of an existing development called Vera on Broad. A coffee shop and corporate offices on the first floor are expected to remain as tenants.
A total of 114 apartments were built in 2022. People with housing vouchers can rent them, and most of the units will be reserved for people earning the median income or less.
Rent for someone making the area median income is between $1,800 for a studio and $2,600 for a three bedroom, according to CMHA.
CMHA expects to pay $18 million for the building, in a deal to refinance the debt. Officials said the arrangement will ensure the apartments there remain affordable.
Like the Aspire project, there are studios and apartments with one to three bedrooms.
Hillman said it's not common to find three bedroom homes downtown.
CMHA Board President James Erin said he's happy to see CMHA acquire a building that can fulfill the desire to bring more affordable housing to downtown areas.
Hillman said mixed-income developments like these demonstrate to developers that it's possible to create profitable projects that are still affordable.
"One of the things that we also have to be able to demonstrate to private developers and others is that you could still make a profit and do good business and still serve the entire spectrum. And I think the difference with us and others, is we do the entire spectrum versus low (income) or high (income). If you do the entire spectrum, you can still perform, still turn a profit and still serve the entire community," Hillman said.
The projects have amenities not always associated with subsidized housing, like gym memberships, pools and resident clubhouses.
Two other acquisitions will reserve a third of the apartments for people making up to 80% of the area median income, and 10% will be saved for people using federal vouchers to pay rent.
The Residences at Eden Park on the eastside has 260 one-to-two bedroom apartments. CMHA is using bonds to pay for the $48 million development that was built in 2024.
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CMHA is also using bonds to pay for the $32 million, 160-unit development with two and three bedroom apartments at The Orchards in Lockbourne.
