The Daily Dig
The NRP Group has broken ground on Stone Ridge at High Street, a 150-unit affordable housing community in Columbus, Ohio. The project is a partnership between NRP, the City of Columbus, and the Ohio Housing Finance Agency, and it will serve households earning up to 60% of Area Median Income.
The development consists of two five-story buildings on a 4.5-acre site. Units will include a mix of one-, two-, three- and four-bedroom apartments built for families of different sizes.
From Quarry to Neighborhood
The site sits at 45 W. Barthman Avenue, about one mile from downtown Columbus. It's located near the former Hart Road Quarry, once part of the South Side's limestone and gravel industry and now a birding habitat, a small sign of how much the surrounding area has changed.
The location also puts residents close to German Village, the Brewery District, and Nationwide Children's Hospital. Amenities on site will include a clubhouse, a multipurpose community room with a kitchen, landscaped courtyards, and a playground.
Financing came from two banks. Huntington Bank provided debt and equity financing. Deutsche Bank handled construction and permanent financing.
"For years, this property sat vacant, despite its proximity to downtown Columbus and some of the city's strongest employment centers," said Aaron Pechota, Executive Vice President of Development at The NRP Group.
Construction is underway now. Completion is scheduled for April 2028.
Snapshot:
Project Name: Stone Ridge at High Street
Developer: The NRP Group
Partners: City of Columbus, Ohio Housing Finance Agency
Lender (Debt/Equity): Huntington Bank
Lender (Construction/Permanent Financing): Deutsche Bank
Location: 45 W. Barthman Avenue, Columbus, Ohio
Sector: Affordable multifamily housing
Unit Count: 150 units
Building Configuration: Two five-story buildings
Site Size: 4.5 acres
Unit Mix: One-, two-, three-, and four-bedroom apartments
Income Eligibility: Households earning up to 60% AMI
Amenities: Clubhouse, multipurpose community room with kitchen, landscaped courtyards, playground
Status: Groundbreaking complete, construction underway
Completion: April 2028
Site History: Former long-vacant industrial site, near the historic Hart Road Quarry
TheJobWalk Thoughts
Two lenders on one affordable deal, Huntington on debt and equity, Deutsche Bank on construction and permanent financing, means two sets of draw requirements and two compliance teams to satisfy. Subs should expect more documentation per pay app than a typical market-rate job, and GCs should build extra float into their billing cycle for it.
Public-private affordable deals with city and state housing agency involvement often carry prevailing wage requirements, though the specifics vary by state and funding source. Worth confirming certified payroll obligations before bidding, since that shapes labor costs and crew sourcing from the start.
Two five-story buildings on 4.5 acres leaves a tight footprint for laydown, crane placement, and material staging. On sites this size, sequencing discipline early in the schedule tends to matter more than raw manpower once vertical work ramps up.
Source: NRP Group
🥾Want to advertise in TheJobWalk? Learn More🥾
