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SN's Bollinger Tower being bought, possibly converted to hotel

Home Forums General Columbus Discussion Development SN's Bollinger Tower being bought, possibly converted to hotel

Viewing 15 posts - 31 through 45 (of 70 total)
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  • #1116086

    Nancy H
    Participant

    No, they didn’t get the tax credits needed for the affordable senior housing at Grant and Fifth for three years running. As far as I know they haven’t tried again for them this year and I don’t believe they have plans to do so again.

    Perhaps Wagenbrenner could still build some senior housing in the Weinland Park area and work out something with CMHA to reduce the rent with the voucher system. Maybe even get the City to add a Recreation Center. A RC would be good for the area children and the seniors.

    Expecting private developers to build this kind of housing is a pipe dream. Unless there is government funding involved, they could not get financing to build anything.

    #1116113
    Ned23
    Ned23
    Participant

    Darn. I entertained the idea of trying to get on the wait-list for that building when I retired if my it looked like my 401k was going to go belly up. I’d be perfectly happy in a small, spartan efficiency in that area. I’d spend most of my time outside of it, anyway. I always thought that might make a good “back-up plan”.

    #1116114
    Ned23
    Ned23
    Participant

    There is an incredibly well deserved spot in hell for the people who put together this deal. Poor people can live in decent neighborhoods too. Where will the new vouchers place them? No where as nice I’m sure.

    They’ll most likely be stuck out in the middle of nowhere where it’s too far to walk to anything nice and they might get a shuttle van once a week to take them to stores for the afternoon. This could be you or me when we’re old.

    #1116116

    ohbr
    Participant

    <div class=”d4p-bbt-quote-title”>rory wrote:</div>
    There is an incredibly well deserved spot in hell for the people who put together this deal. Poor people can live in decent neighborhoods too. Where will the new vouchers place them? No where as nice I’m sure.

    They’ll most likely be stuck out in the middle of nowhere where it’s too far to walk to anything nice and they might get a shuttle van once a week to take them to stores for the afternoon. This could be you or me when we’re old.

    Kind of like what the area was like in 1984 to begin with? I don’t know, I wasn’t alive in 1984, but isn’t that what they did when they built it to begin with. Plopped a dense public house project in a struggling area, probably because it was cheap. That’s how public housing works for better or for worse. I do want to see the plan though. No generalities.

    #1116124
    Ned23
    Ned23
    Participant

    Kind of like what the area was like in 1984 to begin with? I don’t know, I wasn’t alive in 1984, but isn’t that what they did when they built it to begin with. Plopped a dense public house project in a struggling area, probably because it was cheap. That’s how public housing works for better or for worse. I do want to see the plan though. No generalities.

    Even in 1984 you could catch 3 or 4 different buses here and go to OSU medical, Graceland, or only 10 min to downtown and a transfer anywhere, etc.

    Besides, they don’t intend to tear the building down. It will likely look not that different from what it does now. It will probably get a tax abatement for re-development and not contribute meaningfully to the local tax base, either. It might raise some sales tax for the city.

    #1116129

    SusanB
    Participant

    I’m sure that they will dump all those poor seniors on the west or south sides where there is truly terrible COTA service and no grocery stores in walking distance. There’s a history of that in Columbus, with the low income developers being complicit. It’s all about the money, especially for the low income housing developers. And it certainly doesn’t help those neighborhoods designated as poor people dumping grounds stabilize. Columbus desperately needs mixed income communities, but we know that’s not going to happen and the few areas that are mixed income will be destroyed by this kind of development and poor people dumping.

    #1116147
    lazyfish
    lazyfish
    Participant

    follow the money CMHA has some valuable land, probably more valuable than the buildings. They own a great deal west of the Scioto, will be interesting to see the footprint of affordable housing in Franklinton east of 315.

    #1116151

    Nancy H
    Participant

    Did some digging this afternoon…

    A quick check of CMHA’s website indicates they operate 1,323 low income housing units, 589 of which are designated for seniors. With the exception of Bollinger, a building in Franklinton and one in the King-Lincoln area, the CMHA properties are all scattered in outlying areas, such as Linden, Greater Northland area, West side, East side, etc. There is even one near Easton.

    I could not track down exactly how many rent vouchers are distributed in the Columbus area. Best number I could find was about 13,000 vouchers were issued in Franklin County in 2015. If the 100 voucher-based units in Bollinger can be converted (as they vaguely stated) to 300 vouchers by selling the building, that is a nice increase in rent vouchers. The rent voucher system has its problems but allows recipients to live anywhere they find a suitable apartment.

    The most interesting thing I found was “The U.S. Department of the Treasury issues tax credits to state governments and requires that Low Income Housing Tax Credit funded housing stays affordable for at least 30 years.” Bollinger was built in 1985, so it is now at the end of that requirement. The living units are in serious need of renovations. CMHA implies the building was completely renovated in 2010, but that was predominately exterior work. With the rising cost of property in the Snort North and the cost of renovating the interior of Bollinger, it makes financial sense for CMHA to sell it.

    Living on Social Security & subsidies:
    • January 2016 average monthly SS benefit $1,275.00
    • Average rent for a one bedroom apartment in Columbus $716.00
    • Actual rent cost with voucher $291.00 (voucher covers rent costs above 1/3 of monthly income / 1275 income x .333 = 425 / 716 rent less 425 = rent of 291)
    • Average subsidized utilities (gas, electric, phone) for a senior living in a small apartment in Columbus $150.00
    • Average monthly food costs for a senior $270.00
    • Remaining monthly balance for all other expenses $564.00

    #1116167

    ohbr
    Participant

    <div class=”d4p-bbt-quote-title”>ohbr wrote:</div>

    It will probably get a tax abatement for re-development and not contribute meaningfully to the local tax base, either. It might raise some sales tax for the city.

    Just what we need, more tax abatement… Columbus really needs to get smarter about abatements. It’s time to start weening developers off abatements in developed areas.

    #1116185

    goldenidea
    Participant

    It will probably get a tax abatement for re-development and not contribute meaningfully to the local tax base, either. It might raise some sales tax for the city.

    I’m going to stick my neck out here… Recognizing that we need to take care of our elderly, I think converting this building to a hotel does have certain positives. We need more rooms located close to the convention center to host larger events like political conventions. This will add rooms to that tally. Also, I’m willing to bet that hotel guests staying at this location will have a very positive impact on Short North businesses, especially along High Street. Both convention events and retail sales generated from visitors coming from outside Columbus will definitely contribute to the tax base. Also, as a hotel it will very likely be appraised at a much higher value as real estate, thus boosting the county’s property tax base. I guess if any redevelopment is tax-abated, higher property tax revenue won’t be generated immediately, but eventually it will.

    #1116187

    Eugene_C
    Participant

    follow the money CMHA has some valuable land, probably more valuable than the buildings. They own a great deal west of the Scioto, will be interesting to see the footprint of affordable housing in Franklinton east of 315.

    Hey, there’s an idea. Let’s build a Senior tower in Franklinton! Just think, Franklinton will be like the Short North in 30 years so if they build it now they can sell it when it’s all built out. There’s regular bus service and it’s close to the downtown COTA hub.

    (Obviously I’m being sarcastic, since they just tore down another senior tower in Franklinton about 2 years ago)

    #1116189

    Eugene_C
    Participant

    I’m sure that they will dump all those poor seniors on the west or south sides where there is truly terrible COTA service and no grocery stores in walking distance. There’s a history of that in Columbus, with the low income developers being complicit. It’s all about the money, especially for the low income housing developers. And it certainly doesn’t help those neighborhoods designated as poor people dumping grounds stabilize. Columbus desperately needs mixed income communities, but we know that’s not going to happen and the few areas that are mixed income will be destroyed by this kind of development and poor people dumping.

    I took a quick look at CMHA’s site and it looks like most of their available units are out in Whitehall and parts of Columbus that are that way, (south and east). I couldn’t find any info specifically on new senior housing. How would one find out where CMHA is building new senior housing?

    #1116192
    Josh Lapp
    Josh Lapp
    Participant

    <div class=”d4p-bbt-quote-title”>SusanB wrote:</div>
    I’m sure that they will dump all those poor seniors on the west or south sides where there is truly terrible COTA service and no grocery stores in walking distance. There’s a history of that in Columbus, with the low income developers being complicit. It’s all about the money, especially for the low income housing developers. And it certainly doesn’t help those neighborhoods designated as poor people dumping grounds stabilize. Columbus desperately needs mixed income communities, but we know that’s not going to happen and the few areas that are mixed income will be destroyed by this kind of development and poor people dumping.

    I took a quick look at CMHA’s site and it looks like most of their available units are out in Whitehall and parts of Columbus that are that way, (south and east). I couldn’t find any info specifically on new senior housing. How would one find out where CMHA is building new senior housing?

    From the article, CMHA’s stated reason for getting rid of this property is because they do not want to maintain physical property any longer. They are converting 100 units into 300 vouchers, not building more units.

    #1116193

    clancy12
    Participant

    <div class=”d4p-bbt-quote-title”>SusanB wrote:</div>
    I’m sure that they will dump all those poor seniors on the west or south sides where there is truly terrible COTA service and no grocery stores in walking distance. There’s a history of that in Columbus, with the low income developers being complicit. It’s all about the money, especially for the low income housing developers. And it certainly doesn’t help those neighborhoods designated as poor people dumping grounds stabilize. Columbus desperately needs mixed income communities, but we know that’s not going to happen and the few areas that are mixed income will be destroyed by this kind of development and poor people dumping.

    I took a quick look at CMHA’s site and it looks like most of their available units are out in Whitehall and parts of Columbus that are that way, (south and east). I couldn’t find any info specifically on new senior housing. How would one find out where CMHA is building new senior housing?

    I don’t think they are planning on building anything. If you read the original article it sounds like they are actively shedding (selling off) any properties they own.

    #1116309
    Posole
    Posole
    Participant

    I think it really sucks for the residents but it makes sense financially for the metro housing authority. Selling off their land that increases in value provides funds that can be used to re-invest in more, newer housing.

Viewing 15 posts - 31 through 45 (of 70 total)

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