From the Columbus Metropolitan Housing Authority's press release:
United Way of Central Ohio has selected the AspireCOLUMBUS proposal from the Columbus Metropolitan Housing Authority (CMHA) and national nonprofit The Community Builders (TCB) for the sale of its headquarters site at 360 S. Third St., paving the way for a new standard of inclusive excellence in downtown development.
"Our mission to improve the lives of others by mobilizing the caring power of our community impacts everything we do,” said Lisa Courtice, President and CEO of United Way of Central Ohio.
“Central Ohio is in desperate need of affordable housing, and our property is a prime location for redevelopment,” Courtice said. “So, we sought a developer who could purchase the property and redevelop it to meet that critical need."
The CMHA-TCB partnership has a purchase sale agreement of $4 million to take ownership of the United Way of Central Ohio building. The closing is anticipated to take place by the end of 2022.
Battelle Memorial Institute Foundation donated the 1.08-acre site to United Way of Central Ohio in 1978 for use as its headquarters. When the nonprofit decided to sell the property, it enlisted the help of a Real Estate Task Force consisting of United Way employees, board members, community volunteers and outside advisors, who reviewed all proposals submitted and provided a final recommendation to the United Way Board of Trustees.
“We applied due diligence when reviewing the CMHA-TCB proposal because it’s about much more than a real estate transaction,” said Dan Crane, United Way of Central Ohio Real Estate Task Force Chair. “We want the property development to improve and enhance the community for residents who already live and work in the region."
The CMHA-TCB proposal approved by United Way of Central Ohio is a $70 million new construction project slated for completion in late 2025 or early 2026. The plan calls for the development of 30,000 square feet of commercial space on the first two floors of the 12-story property and approximately 135 mixed-income affordable and market-rate housing units on the remaining upper 10 floors.
“We welcome the opportunity to introduce a new blueprint for how integrating mixed-income and affordable housing can not only succeed in our region, but also serve as a call-to-action for other developers to incorporate these principles into their next projects in downtown Columbus and throughout central Ohio,” said CMHA President and CEO Charles Hillman.
“Our intention for AspireCOLUMBUS is to prove that you can add a new piece to the Columbus skyline while also providing housing opportunities for residents across the income spectrum,” Hillman said.