MISSION
Facilitate and invest in developments designed to:
- Create and preserve affordable homeownership and rental housing
- Strengthen and stabilize neighborhoods
- Support working households, seniors and special needs populations
ABOUT US
The Affordable Housing Trust for Columbus and Franklin County is an independent, non-profit lender that works with the private, non-profit and public sectors to develop affordable housing opportunities within the City of Columbus and Franklin County.
HEADQUARTERS AT PARKWOOD
Kelley Companies received a combined $875,000 loan for the new construction and historic rehab of a 36-unit rental housing development located on Parkwood Avenue in Olde Towne East. 48 Parkwood Avenue was built in 1920 and was used by the Ohio Baptist General Convention (“OBGC”) as its headquarters from 1957 to 1996. The OBGC is partnering with Kelley Companies and Otto Beatty III to pursue redevelopment of the headquarters building into nine units and the new construction of 27 multi-family units.
Each unit features a washer/dryer, storage, refrigerator, range, granite countertops, garbage disposal, microwave, dishwasher, ceiling fans, balcony/patio, and air conditioning. After rehab, the first floor of 48 Parkwood will hold office space for the OBGC.
KENLAWN PLACE
Located across from New Salem Baptist Church in North Linden, Kenlawn Place is a 50-unit new development by Homeport that received a $3,000,000 loan. A walk-up building will offer 45 one- and two-bedroom units, with five three-bedroom single-family homes located nearby on scattered sites.
The units will be fitted with all appliances, central air conditioning, washer/dryer hookups and walk-in closets. The single-family homes will have basements, private yards, and a detached two-car garage.
Residents of the single-family homes will have access to the amenities within the main building, which will have supportive services and resident activities available. It will also offer a community space with an activity and lounge room, kitchen, offices for management and supportive services, as well as security features.
KILLARNEY WOODS
The eastern border of Franklin County in Jefferson Township will be home to the newly constructed Killarney Woods. Casto Communities has obtained a $2,780,000 loan for a 200-unit rental housing development near the L Brands distribution center.
One-, two- and three-bedroom units, each with its own washer and dryer, will make up 15 garden and townhome-style buildings. On-site amenities will include a leasing office, fitness center, community pool and a dog park. Located near the #10 COTA bus line, tenants will have ready access to public transportation.
ROSEWIND
Rosewind is a 230-unit multi-family rental housing development originally constructed in 1997 in South Linden. Rosewind comprises 160 one-, two- and three-bedroom garden and townhome-style units in 35 buildings, along with 70 three- and four-bedroom single-family homes. Columbus Metropolitan Housing Authority received a $4,250,000 loan for the rehabilitation and conversion from public housing. Section 8 vouchers will be accepted whereupon residents will pay 30 percent of their income towards rent and utilities.
Units will receive new flooring, high-efficiency furnaces, a/c condensing units and water heaters, and refurbished kitchens including new cabinets, countertops, energy-efficient appliances, and plumbing.
IMPACT
Loans made by AHT to our borrowing partners have a significant impact on the local economy. In 2020, AHT closed loans totaling more than $33 million. This investment will produce or preserve 1,314 housing units and leverage an estimated $182 million in new economic activity. In addition to providing much needed housing for Franklin County’s moderate and low income households, this economic activity may sustain up to 1,600 jobs.
Source: Regionomics, LLC
$33
MILLION
1,314
UNITS
$182
MILLION
LOANS CLOSED JAN-DEC 2020
| PROJECT NAME | LOAN AMOUNT | UNITS |
|---|---|---|
| Kenlawn Place Homes | $3,000,000 | 50 |
| Corban Commons | 1,000,000 | 90 |
| Killarney Woods | 2,780,000 | 200 |
| Creekside Place | 3,000,000 | 63 |
| Rosewind RAD Renovations | 4,250,000 | 230 |
| Canal's Edge | 1,200,000 | 88 |
| Wendler Commons – Acquistion | 880,000 | 62 |
| Wendler Commons – Construction | 4,120,000 | * |
| Atcheson Place Lofts – Equity Bridge | 3,000,000 | 80 |
| Atcheson Place Lofts – Cash Flow | 2,900,000 | * |
| Jenkins Street Lofts | 2,000,000 | 60 |
| Lockbourne Greene | 411,143 | 60 |
| St. Clair Atcheson – Note A | 600,000 | 7 |
| St. Clair Atcheson – Note B | 75,000 | * |
| Headquarters at Parkwood – Pre-development/Bridge | 500,000 | 36 |
| Headquarters at Parkwood – Construction/Permanent | 375,000 | * |
| Columbus Park Apartments | 3,000,000 | 288 |
* AHT sometimes makes more than one loan on the same project. Units marked with an asterisk have been previously counted.
STATEMENT OF
FINANCIAL POSITION
| ASSETS | |
|---|---|
| Cash & Cash Equivalents | $26,632,571 |
| Accounts Receivable | 21,007 |
| Capital Assets – Net of Depreciation | 14,201 |
| Notes Receivable – Net of Allowance | 63,484,452 |
| Accrued Interest Receivable – Net of Allowance | 1,087,075 |
| Other Assets | 161,904 |
| TOTAL | $91,401,210 |
| LIABILITIES & NET ASSETS | |
|---|---|
| Current Liabilities | $376,698 |
| Non-Current Liabilities | 15,135,018 |
| Total Net Assets | 75,889,494 |
| TOTAL | $91,401,210 |
STATEMENT OF
ACTIVITIES
| REVENUES | |
|---|---|
| Operating Revenues | $2,704,639 |
| Program Revenues | 8,773,411 |
| TOTAL | $11,478,050 |
| EXPENDITURES | |
|---|---|
| Payroll & Payroll Related Expenses | $994,833 |
| Other Expenses | 2,169,786 |
| TOTAL | $3,164,619 |
Did you know that AHT won a $2.9 million award from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund?
OUR BOARD
Chairman Emeritus
STAFF
HAF Manager
OUR PARTNERS
FRANKLIN COUNTY BOARD OF COMMISSIONERS
KEVIN BOYCE
President
MARILYN BROWN
JOHN O’GRADY
THE CITY OF COLUMBUS
ANDREW GINTHER
Mayor
City Council Members from L to R: Rob Dorans, Shayla Favor, Emmanuel V. Remy, Council President Shannon G. Hardin (seated), Priscilla R. Tyson, Mitchell J. Brown, Elizabeth Brown
SUPPORT US
The Affordable Housing Trust is a non-profit 501(c)(3) corporation. In addition to funding from Franklin County and the City of Columbus, we also receive contributions from individuals and businesses who want to invest in affordable housing for the greater community. Your contributions of any amount will be gratefully received and efficiently used to further our shared mission.
Please direct your contribution to:
The Columbus Foundation
Attention: Ms. Angela Parsons
1234 E. Broad St.
Columbus, OH 43205
(614) 251-4000
Did you know that AHT provides loans for affordable developments that are otherwise unavailable through the traditional market?