As Columbus heads back to the ballot box to ask voters to approve more affordable housing bonds, the city is allocating about $4.2 million from such bonds for two apartment complexes.
The Columbus City Council voted unanimously, 9-0, on July 14 to approve the bond dollars for both projects.
“Ordinances like this would not be possible but for the affordable housing bonds,” said Council President Shannon G. Hardin, chair of the housing committee. “It’s this type of work that we want to continue to do that holds affordability in a rapidly changing housing environment.”
The council voted at the same meeting to place $1.9 billion in bonds before voters in November, including $500 million for affordable housing and neighborhood development.
Using bond dollars approved by voters in previous years, $2 million will go to the Reserve at Maryland Avenue, a proposed 84-unit development on Columbus’ Near East Side.
Connect Housing Blocks, a modular apartment manufacturer in Columbus, will build the units. According to an announcement from the city council, this innovative new type of development is more environmentally sustainable and time-efficient.
The other project received $2.2 million to redevelop and preserve 88 affordable apartments at Tivoli Apartments in the Harrison West neighborhood.
This complex offers affordable apartments within walking distance of many jobs Downtown, according to the council’s announcement.
All the apartments at both projects will be sold to people making 60% of the area’s median income or less. The median income for Columbus can vary depending on who is making the determination. The Columbus-Franklin County Finance Authority, which is involved in trying to create more affordable housing for the area, says that the median income for a family of four in Columbus is $61,980.
Bond levies do not raise taxes. Columbus has regularly posed bond packages to voters for decades. To repay the debt, the city uses 25% of income tax collected and some revenue from utility bills.
Columbus voters have twice given the city the green light to sell affordable housing bonds: $50 million in 2019 and $200 million in 2022.
Government and politics reporter Jordan Laird can be reached at jlaird@dispatch.com. Follow her on X, Instagram and Bluesky at @LairdWrites.
This article originally appeared on The Columbus Dispatch: Columbus council approves $4M in bond dollars toward 172 affordable apartments
Reporting by Jordan Laird, Columbus Dispatch / The Columbus Dispatch
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