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.