In central Ohio, there is a pressing need for additional housing, particularly affordable housing. It is estimated that over 80,000 households in the Columbus area face challenges in finding suitable accommodations. While the focus is often on housing in general, it is important not to overlook the specific demand for senior housing, both affordable and otherwise. This issue is becoming increasingly critical as the senior population in Ohio is growing at a rate four times that of the overall population. By the year 2040, it is projected that the 60-plus population in the state will reach nearly 3 million.
Senior Living
National Church Residences has successfully addressed the need for senior housing by launching Brookwood Pointe in the Berwick neighborhood. This development, located on East Livingston Avenue, offers 103 apartments catering to independent seniors. With 68 one-bedroom and 35 two-bedroom units, Brookwood Pointe provides a variety of housing options. The facility boasts an array of amenities, including dining facilities, a fitness center, a community room, an arts and crafts room, a library, and beautiful gardens. Brookwood Pointe is situated on the premises of the former Brookwood Presbyterian Church.
A billion here, a billion there
Intel has announced that the cost of constructing the two semiconductor chip factories in New Albany has increased from $20 billion to $28 billion. However, it is important to note that Intel is not solely responsible for covering the expenses. As my colleague Mark Williams has highlighted, Intel is receiving various tax breaks and incentives for its development project. These include local property tax breaks and federal tax credits worth up to $25 billion, provided that Intel follows through with its plan to invest $100 billion in the site, as it has indicated.
The disappearing office
Offices are disappearing in central Ohio, and this may actually be a positive development. Many of these offices are either being demolished or repurposed due to the challenges faced by the office market in the post-COVID era. Recently, Dublin City Schools made an announcement that they have entered into an agreement to potentially acquire one of Cardinal Health’s main office buildings in Dublin. The district is considering using this building as a fourth high school, taking advantage of Cardinal’s hybrid work model, which allows the company to vacate the premises. This news comes shortly after the Noor Muslim Cultural Center purchased a 220,000-square-foot office building located at 5550 Britton Parkway in Hilliard. The center has plans to transform the space into a versatile facility, including a café, a daycare, an arcade for kids, a salon, a STEM lab, and an events venue.
Two wild houses
This week, we showcased two unique homes that have caught our attention for different reasons. One of them is a three-bedroom split-level home located in Northland. While its design may not be the main attraction, it has gained recognition on Zillow Gone Wild due to its impressive collection of items, ranging from vintage typewriters to classic radios. Currently, this home is under contract after being listed for $294,900.
On the other hand, we have a remarkable property situated on Olentangy River Road in Delaware County. What sets this home apart is its rich history, as it dates all the way back to 1807, making it one of central Ohio’s oldest residences. With an expanded living space of 5,700 square feet, this historic gem is currently available on the market for $950,000.
A Capital deal
Capital University recently completed the sale of a prominent apartment complex located on East Main Street, right across from the campus. The transaction amounted to an impressive $7.5 million, making it one of the significant highlights in this week’s property transfers.
And that concludes the development for this week.
