COLUMBUS, Ohio--(BUSINESS WIRE)--Leaders with the Columbus Metropolitan Housing Authority (CMHA) and The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, joined today with Columbus Mayor Andrew Ginther, state Sen. Hearcel Craig, D-Columbus, and local dignitaries in a ribbon-cutting ceremony to celebrate the grand opening of The Sinclair Apartment Homes (“The Sinclair”), a new, $40 million, 180-unit fully affordable apartment community in Columbus.
Situated on 5075 Sinclair Avenue, The Sinclair provides well-crafted, affordable housing options for Columbus-area residents whose incomes range from 30 percent to 80 percent of the Area Median Income (AMI). The former site of the live music venue Alrosa Villa, which closed permanently in early 2020, has been transformed into a community of three four-story apartment buildings consisting of one-, two-, three- and four-bedroom units.
“In a city that's growing and evolving, we must ensure that the heartbeat of Columbus remains strong,” said Mayor Ginther.
“Since Alrosa Villa closed its doors three years ago, the site has gone from an abandoned property on a main transit corridor to a vital housing community,” Ginther said. “This is a remarkable example of Columbus' commitment to addressing the pressing housing crisis and providing affordable housing solutions where families and individuals can thrive."
In addition to offering high-quality rental options that meet the rising demand for more affordable housing in Columbus, The Sinclair has also revitalized the Sinclair Avenue streetscape into a prospering community hub. CMHA played a lead role in helping to fund the development by issuing $27.7 million in tax-exempt and taxable bonds.
“Developments like The Sinclair and collaborating with like-minded organizations that are committed to providing more affordable housing options to our region’s families is more critical now than ever,” said CMHA Commissioner Frederick L. Ransier.
“With a large percentage of households in Franklin County spending nearly half of their income on housing, Sinclair Apartments will provide them with relief while simultaneously allowing for the community to grow and flourish,” Ransier said.
Located near I-71 and I-270, with immediate proximity to Central Ohio Transit Authority, The Sinclair connects residents to work, shopping and local Columbus attractions. The property provides access to an active bus line linking residents to restaurants and retail options, including Target, Kroger and Saraga International Grocery.
“The grand opening of the new Sinclair Apartments development is fully supported by local neighborhood association leaders because it will provide high-quality homes that will raise the bar for what an affordable home should look and feel like in this thriving neighborhood,” said state Sen. Hearcel Craig, D-District 15.
“The Sinclair Apartments are a testament to what Columbus does best – collaboration,” Craig said. “Partners have leveraged their resources to build housing our residents can afford, something our growing city desperately needs.”
Less than two miles from the rapidly growing Clintonville neighborhood and only seven miles north of downtown Columbus, residents will experience a swift commute to thousands of job opportunities. Additional on-site amenities include a fitness center, private clubhouse, playground and outdoor gathering space.
“Our valued partnership with The Columbus Metropolitan Housing Authority has been instrumental in establishing a housing community that not only grants easy public transit connectivity but also fosters pathways for residents to access employment opportunities,” said J. David Heller, Principal, President and Chief Executive Officer at The NRP Group. “This collaborative effort embodies our commitment to creating not just homes, but a supportive environment where residents can thrive.”
The transit-oriented project was developed with tax-credit funding support from the Ohio Housing Finance Agency and Huntington National Bank.
“Huntington is dedicated to strengthening the communities we serve, and this project helps us further that goal in Columbus,” said Sue Zazon, Central Ohio Regional President for Huntington National Bank. “Stable, affordable housing has unfortunately become too scarce, and we can’t have a strong community without it. We are proud to work so closely with the City of Columbus, the Columbus Metropolitan Housing Authority, the Ohio Housing Finance Agency, and The NRP Group to assist with this vital need.”
About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing with a mission to create exceptional rental housing communities for individuals and families, regardless of income. Since its founding in 1994, NRP has developed more than 50,000 apartment homes and currently manages over 25,000 residential units.
Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provide the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, mixed-income, and senior housing.
The NRP Group is consistently ranked in the Top 10 largest developers and builders in the U.S. by the National Multifamily Housing Council and by Affordable Housing Finance. The NRP Group is a winner of the National Association of Home Builders Multifamily Pillars of the Industry award for “Builder of the Year,” and a four-time recipient of the same award for “Development Firm of the Year.” The NRP Group has become the top multifamily developer in the U.S. that creates both affordable and market-rate housing at a national scale. Based on its nearly 30 years of experience and expertise, NRP now provides construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.
About The 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 has more than doubled its portfolio of housing over the last five years. It owns over 5,000 units of mixed-income housing and through its Housing Choice Voucher and Project-Based Rental Assistance Programs provides rental assistance to over 160,000 Ohio and Washington, D.C., residents.
