Columbus Downtown Residential Construction Update

Columbus Downtown Update

Posted September 18, 2013

In Apartments, Columbus, Commercial, Ohio, real estate, Residential, Retail

Columbus has added about 3,000 downtown apartments or condos over the last ten years and the pace of new construction and redevelopment is quickening. It will take a while to get back to where it was in the 40s and 50s when 30,000 people lived downtown, but I think it will get there.

There’s an advocacy group named the Downtown Residents Association of Columbus, which celebrates its 10th anniversary tonight at the Renaissance Columbus Downtown on 3rd Street.

Developers know there’s much more interest for high end condos, lofts and apartments. As of the end of the second quarter 2013, 785 housing units were under construction with another 652 in the planning being built Downtown — $88.9 million in construction. An additional 652 units — $68.6 million in construction — has been proposed, according to the Capital Crossroads Special Improvement District.

Since retail follows rooftops, there’s a major need and opportunity for net leased retail in downtown. The vast majority of new complexes planned or under construction will feature net leased retail on the ground floor.

http://www.dispatch.com/content/stories/local/2013/09/18/downtown-looking-up.html

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