The NRP Group is transforming a long-vacant industrial site into a 150-unit affordable housing community in Columbus, Ohio.
Stone Ridge at High Street is being built near the historic Hart Road Quarry, the last remaining vestige of the South Side’s once-thriving network of limestone and gravel quarries, according to the firm.
Today, the area has been transformed into a birding oasis for waterfowl, reflecting the broader evolution and continued reinvestment taking place throughout the neighborhood.
“Stone Ridge at High Street is a direct investment in South Columbus and builds on nearly 15 years of work we’ve done in the city,” said Aaron Pechota, executive vice president of development at The NRP Group. “For years, this property sat vacant, despite its proximity to downtown Columbus and some of the city’s strongest employment centers. Together with city officials and our financing partners, we are transforming a distressed site into a community that will provide stable, high-quality housing for families and working professionals while supporting the continued growth and revitalization of the South Side.”
The development will feature two five-story buildings, each featuring a mix of one-, two-, three-, and four-bedroom apartments designed to accommodate individuals and families earning up to 60% of the area median income.
Residents will have access to a clubhouse, a multipurpose community room with a kitchen for gatherings and events, and outdoor amenities.
Financing partners in the $64 million development include Huntington Bank, which is providing debt and equity; Deutsche Bank, which is providing construction and permanent financing; the Ohio Housing Finance Agency; and the city of Columbus.
Headquartered in Cleveland, The NRP Group is a vertically integrated developer, builder, and manager of multifamily housing. It is consistently one of the nation’s top affordable housing developers and ranks No. 14 in this year’s AHF 50 list of developers.