“Since 2009, with the Weinland Park Collaborative, the Foundation and its donors have supported significant improvements in Weinland Park, investing in the neighborhood for the benefit of its residents and the community as a whole,” said Douglas F. Kridler, president and CEO of The Columbus Foundation.
The loan was made to Campus Partners for Community Urban Development, an Ohio nonprofit organization. Campus Partners will use these funds to help support the work of Weinland Park Properties, LLC, an Ohio limited liability company, with their effort to renovate and restore the properties along East 11th Avenue, including the renovation of 24 row house buildings to strengthen the neighborhood and pave the way for market-rate rentals.
“Together, with The Columbus Foundation, we hope to set the stage for continued local investment in Weinland Park,” said Mark Wagenbrenner, principal with Weinland Park Properties, LLC. Campus Partners, The City of Columbus, and Community Properties of Ohio, along with the addition of state and federal historic tax credits, all supported the project financially.
“This project is a wonderful example of the possibilities for community progress when public funders and private entities work collaboratively in pursuit of a common goal,” said Keith Myers, associate vice president, Physical Planning and Real Estate, The Ohio State University, and chair of Campus Partners.
The buildings on East 11th are primarily two-story row houses. Ninety units of mostly one and two bedrooms will be completely renovated with all new mechanicals, windows, wood floors, granite counter topics, security systems, washer and dryer, and off-street parking. Rents will start at $700 per month and the first units will be available late in 2014. These properties comprise a large portion of the approximately 90 buildings that comprise the Indianola Historic District, listed on the National Register of Historic Places in 1985. Originally built in 1916-1921 by Columbus developer Charles Foster Johnson, the buildings are significant because it is a whole and complete area of 1920s rental housing that has not been appreciably altered since it was built.
“It is also significant for its role in the history of urban planning and for surviving in its entirety for almost 100 years,” said Rory Krupp, Weinland Park resident and historic preservation consultant.
The total cost of the Grant Commons project is $12 million. Funding support comes from Nationwide Insurance, S & T Bank, Campus Partners, The City of Columbus, and The Columbus Foundation.
About The Columbus Foundation
The Columbus Foundation is the trusted philanthropic advisor® to more than 2,000 individuals, families, businesses, and communities that have created unique funds to make a difference in the lives of others through the most effective philanthropy possible. Serving the region for 70 years, The Columbus Foundation is the seventh largest community foundation in the United States. The Foundation’s online giving marketplace, PowerPhilanthropy®, makes it possible for everyone to access valuable information about nonprofit organizations in central Ohio.