Columbus’ former downtown YMCA building commences transformation into affordable housing units
Lofts at 40 Long will restore and adapt the historic seven-story YMCA building located in the heart of the Downtown Columbus. Downtown Columbus, Inc. spearheaded this exciting transformation, selecting the Lofts at 40 Long development team led by Woda Cooper to redevelop the building in a 2023 request for proposals.
The 1922 YMCA building is listed on the National Register of Historic Places. It is representative of Jacobethan Revival and Late Gothic Revival popular in the early 20th century. The restoration will preserve many original architectural features including ornate woodwork on the first floor, stone and terrazzo flooring in the lobby, a winding stairwell, and the YMCA inscription that appears on the front façade.
The $65.7 million redevelopment will convert the 235,118 square foot building into 121 modern housing units, including one studio apartment, 72 one-bedroom units, 38 two-bedroom units, and 10 three-bedroom units. There will be a central elevator.
All apartment homes will feature contemporary designs that complement the historic building, quality finishes, and they will have energy efficient features and appliances, including dishwashers. Parking will be available for Lofts at 40 Long residents at a city-owned parking garage at an affordable rate.
The building’s former gym has two full-sized basketball courts. One will be maintained for resident free play use, and the other will be converted into an indoor play area. In addition, there will be a community room with a kitchenette, a fitness room, bike storage, a pet care/wash room, a package room, and co-working space.
Residents who lived in the building before it was decommissioned by the YMCA in 2019 have been relocated to housing communities served by the organization. Including McKinley Manor. This site was developed by the Columbus Metropolitan Housing Authority and constructed by Woda Cooper. Woda Cooper is also the property manager of McKinley Manor.
Rents for units at Lofts at 40 Long are projected at $445 for the studio, $675 to $1,260 for a one-bedroom apartment, $790 to $1,620 for a two-bedroom apartment, and $880 to $1,900 for a three-bedroom apartment depending on the income restriction. Lofts at 40 Long will offer units to qualified applicants with household incomes at a mix of incomes from 30% to 80% area median income (AMI). AMI equals the middle value when incomes are sorted from lowest to highest. Based on the current average monthly income of Franklin County, a household with four occupants making under $87k per year would qualify for a unit reserved for 80% AMI.
Long term affordability is ensured based on the development’s use of a combination of funding including public, private, and nonprofit sources. Financing uses 4% housing tax credits allocated by the Ohio Housing Finance Agency, who also provided an equity bridge loan. Merchants Capital provided an equity investment in exchange for federal and state housing tax credits, as well as federal historic tax credits. The City of Columbus and Franklin County, including through a Linked Deposit Fund established by Treasurer Cheryl Brook Sullivan, also provided soft financing. A first mortgage was provided by Cedar Rapids Bank & Trust. Huntington National Bank provided a construction loan. Affordable Housing Trust for Columbus & Franklin County provided an equity bridge loan. A sales tax exemption for building materials was provided by Columbus Franklin-County Finance Authority.
Architect for the project is PCI Design Group, with Naylor Wellman providing historic preservation consultation. Woda Construction, Inc. is performing general contracting. Leasing and property management will be performed by Woda Management & Real Estate.
Lofts at 40 Long is expected to be ready for move in in 2027.
Pre-Redevelopment & Announcement Photos
