The Columbus City Council has approved the sale of 897 E. Mound Street to the Community Housing Network (CHN) for $350,000. The site, previously acquired from HUD after the foreclosure and demolition of Regal Court Apartments, will be developed into a multifamily permanent supportive housing project. The project has been allocated Low-Income Housing Tax Credits by the Ohio Housing Finance Agency and is scheduled for construction in 2025. To facilitate the sale, the city will execute an Amendment and Restatement and Partial Release of Restrictive Covenants, addressing deed restrictions placed on the property by HUD. The city will pay $50,950 from the proceeds of the sale toward a required $148,005 Equity Participation Fee. Additionally, a portion of the property not included in the sale, currently used as a community garden, will have its restrictions amended. The project aligns with Columbus' efforts to provide stable housing for vulnerable populations.
This project directly supports Columbus’ strategy to increase affordable and supportive housing options. By utilizing tax credits and addressing deed restrictions, the city ensures the redevelopment of a previously foreclosed site into a housing resource for those in need.