Fostering community revitalization with the right financing

Long-term economic success for the region relies on making revitalization accessible to every community. According to Columbus Underground, there were 42 urban development projects that took place in the City of Columbus in 2018 alone – and this doesn’t account for the projects that took place in the surrounding suburbs. To ensure that the millions of dollars in development costs are addressing every residents’ needs, leaders must consider all perspectives within their communities.

Establishing a place at the table for all of these perspectives throughout the development process, from initial discussions to final ribbon cutting, is crucial. With access to the right resources, including proper financing tools, communities can make a long-term investment in their neighborhood. The Columbus-Franklin County Finance Authority focuses on finding creative financing solutions with the utilization of its Central Ohio Bond Fund program and capital lease financing tools to help revitalize Central Ohio.

Most recently, the Finance Authority facilitated over $42 million in financing the Gateway Lofts project in Whitehall. The development will provide 360 residential units, 330,000 square-feet dedicated to a restaurant and fitness center, as well as a community center, pool and pavilion intended for live music and events.

Projects that provide new restaurants and housing, like Gateway Lofts, stimulate the local economy, create jobs for current residents and encourage outside businesses to move into Whitehall -stabilizing day-to-day life for every individual.

Making this type of revitalization accessible requires the help of community advocates, strong partners and the right financing. If you are interested in learning more about the Finance Authority and how we can partner on your next community project, contact us at [email protected]olumbusfinance.org or visit our website at: www.columbusfinance.org.