The Residences at Eden Park
The Residences at Eden Park is a brand-new apartment community developed to deliver modern housing to residents of Franklin County. Strategically situated off Cassidy Avenue with direct access to I-270, I-670, and Downtown Columbus, the community offers one and two-bedroom apartment homes.
The Columbus Metropolitan Housing Authority acquired the newly built Residences at Eden Park apartments. Eden Park represents a key part of CMHA’s affordable housing strategy for Central Ohio — buying new quality apartment homes in neighborhoods of opportunity to provide long-term affordability and advantages.
CMHA ensures that 10% of apartment homes will be available to Housing Choice Voucher holders and 30% of apartments are reserved for residents making 80% or less of the area median income, while the remainder of units are market rate.
The community is in Columbus's northeast side, near Gahanna, John Glenn International Airport, and Easton Town Center.
UNITS FEATURE:
Each apartment home was thoughtfully designed with quality finishes and resident-focused features, including:
- 9-foot ceilings
- Elegant white trim and doors
- Black appliances
- Satin nickel lighting and fixtures
- Abundant closet space
- Full-size washer and dryer connections
- Open-concept layouts
COMMUNITY AMMENITIES:
The Residences at Eden Park also delivers an amenity package designed to foster community and well-being. Community offerings include:
- Vegas-style pool with fire pit and outdoor kitchen
- 24-hour onsite fitness center with cardio and weight machines
- Resident cyber station
- Billiards room
- Welcoming clubhouse
- Professional onsite management and maintenance services
- Onsite renters’ insurance program
INVESTMENT
47.4M
Acquisition cost
13
PARTNERS
264
Newly Built Apartments
| Sources | Amount | Uses | Amount |
|---|---|---|---|
|
AHT 1st Mortgage |
$2,200,000 |
Acquisition |
$675,001 |
|
AHT 2nd Mortgage |
$300,000 |
Site Work |
$616,734 |
|
OHFA HDAP |
$300,000 |
Hard Costs |
$10,853,146 |
|
City of Columbus HOME |
$825,000 |
Soft Costs |
$2,406,777 |
|
CMHA Loan |
$108,828 |
Developer Fee |
$1,000,000 |
|
Member Donations |
$25,500 |
Reserves |
$119,217 |
|
FHLB AHP |
$1,000,000 |
|
|
|
State Capital Grand |
$300,000 |
|
|
|
OCIC Grant |
$100,000 |
|
|
|
Def. Dev. Fee |
$455,859 |
|
|
|
LIHTC Equity |
$10,055,688 |
|
|
|
Total |
$15,670,875 |
Total |
$15,670,875 |
PARTNERS
The Finance Fund, Fairfield Homes Inc. and Star House
CMHA ROLE
Carol Stewart is part of CMHA’s commitment to ensuring long-term affordable housing options for the most vulnerable and in-need residents of Central Ohio — with the property including vouchers. This property is owned and operated by CMHA in partnership with The Finance Fund, who developed the property. Star House provides on-site supportive services to ensure advancement opportunity for residents. Fairfield Homes Inc. is the property manager.