Westrich
Westrich offers not only one-bedroom, two-bedroom and townhouse-style apartments in Columbus, OH, but retail space as well! Located along the Scioto River and the Scioto Greenways in Downtown Columbus, Westrich includes more than 24,000 square feet of ground retail space, 200 residential apartment units, and a 300-space parking garage.
UNITS FEATURE:
- Oversized outdoor balconies*
- Attached garages*
- In-home washer & dryer
- Open floor plans
- Oversized windows*
- Industrial designer finishes
- Kitchen islands*
- Subway tile backsplashes
- Hardwood-style flooring
- Granite countertops
*Select units
COMMUNITY AMMENITIES:
- Onsite fitness center
- Onsite bike & kayak storage
- Heated pool
- Outdoor grilling area & fire pit
- EV charging stations
- Two-story parking garage
- 24-hour emergency maintenance
- Weekly doorstep recycling pickup
HIGHLIGHTS:
- Pet-friendly
- Stunning views
- Numerous on-site retailers, restaurants, brewpubs, and art galleries
Managed By: Oakwood Management Company
INVESTMENT
$71,163,500
TOTAL DEVELOPMENT COSTS
6
PARTNERS
234
UNIT COUNT
| Sources | Amount | Uses | Amount |
|---|---|---|---|
|
CMHA Construction Loan |
$47,200,000 |
Acquisition |
$1,100,000 |
|
CMHA Equity |
$1,100,000 |
Site Work |
$241,000 |
|
Developer Equity |
$22,863,500 |
Hard Costs |
$58,482,500 |
|
|
|
Soft Costs |
$9,840,000 |
|
|
|
Developer Fee |
$1,250,000 |
|
|
|
Reserves |
$250,000 |
|
Total |
$71,163,500 |
Total |
$71,163,500 |
PARTNERS
Casto, The Robert Weiler Company, The Kelley Companies, S. Cain Development, Moody Nolan, KeyBanc Capital Markets, CK Construction, Dimit Architects, REALM, EMH&T.
CMHA ROLE
The Columbus Metropolitan Housing Authority (CMHA) played a pivotal role in the development of Westrich. As a key partner, CMHA facilitated the project’s financing and development, ensuring that it aligned with broader urban revitalization and affordable housing goals. CMHA issued bonds for the development of Westrich. CMHA’s involvement helped to integrate affordable housing units within the development, promoting socioeconomic diversity and providing more inclusive housing options in the rapidly evolving Franklinton area. Through strategic partnerships and community-focused initiatives, CMHA contributed to making Westrich a cornerstone of the neighborhood’s ongoing transformation.