A public-private partnership will bring affordable housing to the Columbus State campus in downtown Columbus, Ohio. Affordable housing developer Woda Cooper Cos., which is based in Columbus, is partnering with Columbus State Community Partners, the college’s real estate affiliate, on the 166-unit Opportunity Pointe.
The co-developers broke ground on the development in August. It will comprise two efficiency, 97 one-, 49 two-, and 18 three-bedroom apartments for renters with household incomes between 30% and 80% of the area median income. An additional 20 one-bedroom, market-rate units will be for Columbus State’s exclusive use for supportive student housing.
Residents will have access to a community room, a package room, an activity room, a fitness room, a covered outdoor patio, and a playground. Jewish Family Services also will provide resident programming, including counseling, job training, and emergency financial assistance.
“Columbus is growing, and we must make sure that growth creates opportunities for everyone. Opportunity Pointe is an important investment in that vision, bringing much-needed affordable housing to our downtown while giving families, workers, and students the opportunity to live close to jobs, education, transportation, and other community amenities,” said mayor Andrew J. Ginther. “Through strong public-private partnerships like this one, we can continue building a city where everyone participates and benefits from Columbus’ success.”
Financing for Opportunity Pointe included low-income housing tax credits allocated by the Ohio Housing Finance Agency. Affordable housing investor OCCH is providing the equity investment, while affiliate Ohio Capital Finance Corp. is providing the construction loan. Rocky Mountain Community Reinvestment Corp. is providing the first mortgage; the city of Columbus holds the second soft mortgage and provided a 15-year property tax abatement. In addition, the Columbus-Franklin County Finance Authority authorized a sales tax exemption for both phases for goods and materials used in construction.
Additional partners include architect PCI Design Group, civil engineer American Structurepoint, and sustainability consultant Sol Design + Consulting. Woda Construction is the general contractor, and Woda Management & Real Estate will oversee leasing and property management.
Columbus State is making other strides in transforming the area around the community college’s downtown campus through other partnerships. National grocer ALDI is developing a new 20,000-square-foot store adjacent to the downtown campus, and Columbus State and the YMCA of Central Ohio have plans to construct a new downtown fitness center that will provide free drop-in childcare for students while they attend classes.
“Opportunity Pointe will meet an urgent need for affordable housing, both for our students and for the broader Central Ohio community,” said Columbus State president David T. Harrison. “This is a great example of how public-private partnerships can make a difference in people’s lives. Columbus State is proud to partner on this innovative solution to a regional challenge. Along with the YMCA and the recently announced ALDI, we are helping our students with housing, childcare, and food insecurity.”