United Way to sell downtown headquarters
A downtown nonprofit headquarters is being demolished for a 12-story commercial and housing project.
Driving the news: The United Way of Central Ohio announced yesterday that it's selling its HQ at 360 S. Third St. for $4 million to the Columbus Metropolitan Housing Authority (CMHA) and The Community Builders, a nonprofit developer.
Why it matters: The project will bring dozens of new low-cost units into a downtown area sorely lacking affordable housing.
State of play: United Way of Central Ohio raises and distributes millions of dollars each year to a vast network of local food pantries, youth centers and other nonprofits.
- It's been located on Third Street since 1978 but plans to move to a new undisclosed location later this year, Columbus Business First reports.
Details: The $70 million development project will feature 30,000 square feet of commercial space in the bottom two floors and 135 mixed-income units across the upper 10 floors.
- A quarter of units will be set aside for renters earning less than $20,000 per year, who will also receive housing subsidies.
- Another 30% of units are for households earning below $55,000.
- Tenants will also have access to CMHA resources like rental assistance and employment help.
What they're saying: "Our intention for [the project] is to prove that you can add a new piece to the Columbus skyline while also providing housing opportunities for residents across the income spectrum," CHMA president and CEO Charles Hillman said in a statement.
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