COCLT, Finance Fund and the City of Columbus Join Together to Bring More Permanently Affordable Homeownership Options to Columbus Residents
(COLUMBUS) April 22, 2025—The Central Ohio Community Land Trust (COCLT), a subsidiary of COCIC: The Franklin County Land Bank, is pleased to announce the completion of its first multi-unit condominium project. Working in partnership with the Finance Fund and the City of Columbus, the Land Trust today unveiled a 19-unit townhome project in Franklinton. The condos sit on two half-acre corner lots: one at Rich St. and Skidmore St. and the other at Grubb St. and Sullivant Ave.
“It is no secret that housing is one of the greatest challenges of the present moment,” said Mayor Andrew J. Ginther. “Thanks to the community land trust model, we are able to use this available land to build high-quality housing while ensuring these homes remain affordable for generations to come.”
The condo project includes 11 two-bedroom units and eight three-bedroom units, each with a basement and off-street parking, and will be available for sale at prices under $199,000. Finance Fund served as the developer and construction lender. The Columbus Design Company was the project architect, Structurepoint was the civil engineer, and SME was the environmental consultant.
“As an organization, our mission is to find opportunities to return unproductive property to productivity. One of the most meaningful ways we do this is the development of new permanently affordable housing units,” said Curtiss L. Williams, Sr., President/CEO of COCIC. “This project demonstrates our ability to not only provide more attainable housing but also to maximize the available land. We want to thank the City of Columbus and Finance Fund for their partnership in helping bring forth our first condo project.”
Since its formation, the COCLT has built 138 affordable homes throughout Franklin County for individuals and families with an average annual income of $55,000. Currently, 85% of COCLT homeowners are first-time homebuyers, 82% are minority heads of households, and 59% of homeowners are at 80% or below the area median income (AMI).
About COCIC: The Franklin County Land Bank
COCIC is a non-profit organization formed by the Franklin County Commissioners in 2012 to improve the quality of neighborhoods and communities within Franklin County. More information about COCIC can be found at www.cocic.org.
About the Central Ohio Community Land Trust
The Central Ohio Community Land Trust, a subsidiary of COCIC, is committed to creating more affordable housing options for individuals in underserved and transitioning neighborhoods, bridging the affordability and racial homeownership gaps that exist today in Franklin County. You can learn more about the Central Ohio Community Land Trust and view our homes at www.coclt.org.
