Co-developer Columbus State Community Partners and Woda Cooper Companies, Inc. recently celebrated the commencement of construction for Opportunity Pointe, featuring a total of 166 affordable housing units in two buildings being constructed on the Columbus State Campus in the Discovery District of Downtown Columbus.
The event drew local officials, including keynote speaker Congresswoman Joyce Beatty, financing partners, investors, and other supporters to recognize the $51 million investment which will help to address the severe need for workforce housing in Columbus, with an estimated shortage of more than 53,000 affordable housing units in the region. (Source)
“Housing costs are increasing faster than incomes. Columbus, and communities throughout Ohio, are seeing the effects of the affordable housing shortage every day, from families struggling to pay rent to shelters operating beyond capacity,” said Amy Riegel, Executive Director, Coalition on Homelessness and Housing in Ohio. “We’re grateful to Congresswoman Beatty and all of her bipartisan colleagues for passing the 21st Century ROAD to Housing Act. Now we need to fully implement this legislation to fulfill its potential for expanding access to affordable homes.”
Opportunity Pointe consists of two efficiency units, 97 one-bedroom units, 49 two-bedroom units, and 18 three-bedroom units for renters with household incomes 30-80% of the area median income. Affordable rents will range from $480 to $1,399 per month. There are an additional 20 one-bedroom, market-rate apartments for Columbus State’s exclusive use for supportive student housing.
Amenities will include community room with kitchenette, package room, activity room, fitness room, covered outdoor patio, outdoor playground area and more. In addition, Jewish Family Services will provide programs for residents that include counseling, employment/job training, emergency financial assistance and more.
“Opportunity Pointe will meet an urgent need for affordable housing, both for our students and for the broader Central Ohio community,” said 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. These have been longstanding barriers to success for many of our students.”
Through other partnerships, Columbus State is transforming the area around the college’s downtown campus with developments that will benefit its students and the Central Ohio community.
- National grocer: Aldi will develop a new 20,000-square-foot grocery store adjacent to Columbus State’s downtown campus through an arrangement with Columbus State Community Partners, the college’s real estate affiliate.
- Fitness, wellness and childcare: The Columbus State and the YMCA of Central Ohio have announced plans to construct a new downtown fitness center that will provide free drop-in childcare for Columbus State students while they attend classes, helping remove one of the most significant barriers facing student parents. The Columbus State YMCA will open in fall 2028.
Opportunity Pointe was made possible with funding supported by Low-Income Housing Tax Credits allocated by OHFA in addition to a bridge loan. “OHFA is proud to be a financial partner in Opportunity Pointe through the Low-Income Housing Tax Credit program,” said Bill Beagle, Executive Director of OHFA. “This housing development is a result of the shared vision of the city, Columbus State, and Woda Cooper to increase access to affordable, quality housing in Columbus.”
Rocky Mountain Community Reinvestment Corp is providing the first mortgage for the project. “Affordable housing developments have become increasingly challenging to bring across the finish line as financing and construction costs continue to rise. It takes creativity, persistence, and strong partnerships to make these projects a reality,” said Natasha Pfeiffer, Senior Loan Officer. “We’re grateful to work alongside organizations like Woda Cooper Companies and Columbus State Community partners, whose dedication creates quality affordable housing opportunities for extremely low- and low-income households that otherwise might not be possible.”
The City of Columbus holds the second soft mortgage and provided a 15-year property tax abatement. The Columbus-Franklin County Finance Authority authorized a sales tax exemption for both phases for goods and materials used in construction.
“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, City of Columbus. “Through strong public-private partnerships like this one, we can continue building a city where everyone participates in and benefits from Columbus’ success.”
Affordable housing investor Ohio Capital Corporation for Housing is providing the equity investment whileaffiliate Ohio Capital Finance Corporation isproviding the construction loan.
PCI Design Group, Inc. is the architect for Opportunity Pointe, with civil engineering by American Structurepoint, Inc. Consultants and sustainability consulting by Sol Design + Consulting. Woda Construction, Inc. is the general contractor and Woda Cooper’s management division, Woda Management & Real Estate, will oversee leasing and property management.
