FOR IMMEDIATE RELEASE 

Aug. 13, 2024

Contact: Mike Nowlin

Cell Phone: 989-450-0855

Columbus Metropolitan Housing Authority closes on financing to build new $28.6 million, 82-unit apartment complex for seniors in Grove City

Investment is CMHA’s first project in the Columbus suburb in its 90-year history

and helps agency achieve record-setting $195 million total for annual real estate deals

COLUMBUS, Ohio – 2024 is proving to be a banner year for the Columbus Metropolitan Housing Authority (CMHA).

CMHA announced today it has closed on financing and will move forward with its plan to build the new Cobblestone Manner community, located at 1050 Lamplighter Drive roughly eight miles south of Columbus, marking the agency’s first-ever development in its 90-year history in Grove City.

The $28.6 million, 82-unit apartment complex will serve low- and fixed-income senior citizens and is tentatively expected to begin construction in September with a grand opening anticipated in 2026.

The new Grove City investment also has helped CMHA surpass an agency record-setting total of $195 million in annual real estate transactions for 2024.

“CMHA’s activities this year have accomplished an unprecedented social and economic impact on our region at a time when the demand for housing at all income levels is at an all-time high in Central Ohio,” said CMHA President and CEO Charles Hillman.

“The need for affordable housing is especially critical for seniors in Franklin County because our elderly population is significantly increasing and is projected to grow for the foreseeable future,” Hillman said.

Studies show safe and stable housing can reduce stress and improve physical and mental health outcomes. Research by the National Institutes of Health (NIH) shows that affordable housing for seniors can lead to lower hospitalization rates and annual healthcare cost savings of $1,300 per person.

“Our aim with Cobblestone Manor is to promote healthy aging by offering rents that are reasonably priced to lower-income older adults and allowing them to have money left each month to pay for other life necessities,” said Hillman. “Providing affordable housing can help seniors free up resources to spend on other essential needs, like healthcare and food.”

Similar to many Central Ohio suburbs, Grove City’s population increased rapidly during the 1960s and 1970s and has continued to see steady growth. Between 1960 and 2020, the population of Grove City rose from 8,107 to 42,366, based on census data. According to GroveCity2050, the population is expected to increase by at least 15,000 more people by 2050. City officials have noticed a change in demographics in the rising population and are now making housing decisions to meet these needs.

According to the Mid-Ohio Regional Planning Commission’s Insight2050 initiative, the fastest-growing age groups in Grove City are those under the age of 35 and over the age of 55. As of August 07, 2024, Grove City has 12 affordable housing complexes, including 188 federally subsidized section 8 apartments and 755 approved low-income housing units.

CMHA’s introduction of Cobblestone Manor represents a much-needed addition to Grove City’s senior housing inventory.

When construction is completed, the property’s single, three-story building will include 22 apartments reserved for residents below 80% of the Columbus area median income ($55,550 for a one-person household). The remaining 60 apartments will be covered by a federally funded project-based voucher contract that will serve residents designated as extremely low-income below 30% of the area median income ($19,700 for a one-person household).

Cobblestone Manor will offer an array of amenities to its residents, including a fitness center, a community room with a coffee bar, a library, a computer room, a flex-space room, a large covered outdoor patio overlooking a pond, and a paved walking trail that will surround the property.

The CMHA Board of Commissioners voted in April to authorize the issuance and sale of $17 million in general revenue bonds to construct the Cobblestone Manor. Columbus-based Elford Construction will serve as general contractor for the project.

Additional funding support for Cobblestone Manor came from the U.S. Department of Housing and Urban Development ($4.5 million), Ohio Housing Finance Authority ($2 million) and the Ohio Capital Corporation for Housing ($9.1 million). 

CMHA cites studies that have shown the average age of residents moving into an elderly housing facility is at least 74 years. Recent surveys indicate that 25% of all residents in federally assisted elderly housing need some level of supportive services.

That’s why CMHA will prioritize promoting awareness and encouraging Cobblestone Manor residents to utilize the services offered through CMHA’s RISE (Resident Initiatives for Success & Empowerment) Center. The nonprofit RISE Center, which opened in 2021, is a centralized hub of collaborative services designed to connect Franklin County residents to valuable resources—empowering them to identify, pursue, and achieve their goals.

To further support Cobblestone Manor residents, CMHA has confirmed a formal relationship with the YMCA of Central Ohio that is focused on catering to the needs of the seniors who will be housed within the development. CMHA research shows most older persons have at least one chronic condition and many have multiple conditions. The most frequently diagnosed conditions are arthritis, hypertension, heart disease, hearing impairments, orthopedic impairments, diabetes, cataracts, and other visual impairments.

The RISE staff also will work with other community organizations to coordinate on-site events and activities such as resource fairs, digital literacy programs, and health clinics.

CMHA’s most recent investments come amid a well-documented shortage of affordable housing in central Ohio.

Only 29 affordable housing units are available for every 100 extremely low-income households in the Columbus and Franklin County area. In Franklin County, roughly 54,000 families spend more than half of their income on housing, according to the Affordable Housing Alliance of Central Ohio (AHACO).

Rents nationally have risen 14% overall since 2021, going up much more than wages, according to U.S. Census data. Experts say the spike is partly due to landlords making up for their inability to raise rents during the COVID-19 pandemic and current vacancy rates at their lowest point in 35 years, census data show.

About Columbus Metropolitan Housing Authority

CMHA helps people access affordable housing through collaborative partnerships, promotes neighborhood revitalization and assists residents in accessing needed social services. CMHA owns more than 5,300 units of affordable housing, and through its Housing Choice Voucher and Project-Based Rental Assistance programs, it provides rental assistance to more than 160,000 Ohio and Washington, D.C., residents. Learn more at cmhanet.com.

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