COLUMBUS, Ohio — Mayor Andrew Ginther put a bond on the ballot that would help ensure everyone has a place they can afford to live.
Housing has been a hot topic for several years in Central Ohio. According to Zillow’s Home Value Index, Columbus’ home values have increased by more than 85% over the past five years. The city of Columbus passed a $50 million affordable housing bond in 2019 that built 1300 affordable rental units.
Now Ginther is asking Central Ohioans to pass another bond that would allocate $200 million to affordable housing.
“By banding together with our private-sector and suburban partners to build new affordable rental units, preserve existing affordability, subsidize permanently affordable homeownership and prioritize housing stability programs that prevent homelessness, we can ensure that our city and region will continue to grow and thrive in ways that are truly equitable and sustainable,” said Ginther.
The $200 million bond would allocate:
- $80 million for construction of affordable rental units.
- $50 million for affordable homes.
- $40 million to preserve existing housing affordability
- $30 million for programs and permanent housing for those experiencing homelessness
The city works with organizations like Columbus Next Generation to pinpoint communities that need resources like housing. Boyce Safford has worked with the organization for years and has been integral in projects like New Poindexter Village.
While he helps develop and revitalize areas to add grocery stores and resource centers, he said housing has become their primary focus.
“Housing wasn’t thought of as a public concern. Now the city has laser focused on meeting the needs and helping those to facilitate transactions to create housing,” said Safford. “The city will hopefully leverage that to go into projects. They also use the ability of tax abatements all in the effort to reduce the costs of building units that therefore can be transferred as affordable.”
Central Ohioans will take matters into their own hands at the polls. The bond would primarily serve households that make less than 50,000 a year. Safford said that he is confident that it will pass and that 200 million is a good starting point to address the increased demand.
“It’s just a starting point. It’s a very good starting point, but it’s just a starting point,” said Safford. “When you’re talking about 53,000 homes needed in communities, that’s a lot of dollars, but the city said, ‘Hey we want to be a part of the conversation in a real way’ bringing in other partners to make it happen.”
Safford and his organization hope voters approve the bond so they can get started on projects that would put a dent in Columbus’ need for thousands of homes.
“It’s going to take a little bit of time but I think folks, the city has talked to folks that are in the affordable housing market and they’re ready to go,” said Safford. “They already have projects on the table, they just need resources to help make them happen.”
The affordable housing bond is Issue 16 on the ballot and is coupled by four other bonds that address recreation and parks, public service, public utilities and health, safety and infrastructure. None of the bonds will increase property taxes or impose new taxes.
