City Center Development (CCD) is delighted to have this opportunity to provide much-needed Affordable Workforce Housing residences to communities of Columbus, Ohio.
Affordable Workforce Housing targets slightly lower than middle-income workers and single mothers, which includes profession such as; Police officers, firefighters, teachers, first-time homebuyers, healthcare providers, warehouse workers and retail associates.
Facebook has committed $1 billion to tackle affordable housing shortages in the Bay Area and California — a surprise move that lands the social media company among the handful of corporate giants offering massive amounts of cash to ease the crisis wracking the state.
Google announced a stunning $1 billion commitment to ease the Bay Area’s housing crisis, pledging to add about 20,000 homes across the region. It is the largest single commitment from a tech company to fight the housing shortage that threatens to stall the economic engine of Silicon Valley.
Microsoft has announced an unusual bit of corporate political activism: $500 million to support affordable housing in the Seattle area, where rents have shot up considerably as tech workers there and at Amazon have moved in. The mayor has promised to “consider opportunities” to “increase density near current public transit."
The Chan Zuckerberg Initiative (CZI) recently announced the launch of a $500 million effort, the Partnership for the Bay Area’s Future, to take on the major need for more affordable housing in its home community. In partnership with the Ford Foundation, the San Francisco Foundation, and the Local Initiatives Support Corporation (LISC), the CZI-led effort will, “a large fund dedicated to developing and preserving affordable housing."
The City of Columbus, along with Franklin County, corporate partners and The Columbus Foundation, announced a $100 million Housing Action Fund to address the need for affordable housing in Franklin County. The fund will provide a flexible source of capital dollars managed by the Affordable Housing Trust which will offer low-cost loans to developers who commit to specific affordability requirements in order to preserve and increase the number of units in Franklin County.
The Affordable Housing Alliance of Central Ohio was challenged to raise $140 million in new affordable housing resources from 2018-2020. Through determined advocacy, regional collaboration, and exceptional public partnerships, their members and advisors far exceeded that goal by supporting the creation of $226 million in innovating financing opportunities and new funding programs.
We are offering an investment opportunity in the proposed new construction of the first of nineteen houses, located at 1396 Urban Drive Columbus Ohio 43229 (Vacant Infill lot project). Involving the building of a ranch style 960 Square foot; three bedrooms; and two Baths single-family home. The newly built home will be located within the Forest Park community, in the highly desirable Woodward Park neighborhood of north Columbus.
1369 Urban Dr. Columbus Ohio- “A Mothers Love Workforce Housing Program; by City Center Development involves the new construction of a single-family home. Our targeted markets are for workforce renters and buyers. Workforce housing markets target slightly lower than middle-income workers and single mothers… but of the nearly 15 million single parent-led households in the United States, more than 80% of them are led by single moms.”
The one level exterior home will consist of vinyl siding, vinyl windows, brick foundation, video door bell; two-car garage and, professionally landscaped lawn. The interior will feature hardwood accents molding, flooring, modern bathrooms, marble countertops, large wood kitchen cabinets, energy-efficient appliances, and designer light fixtures. Please note, some of the nineteen houses may or may not have garages or basements.
Columbus Ohio, area housing market is listed in the top U.S real estate markets for growth, rentals, and sales, according to Forbes magazine. Furthermore, Columbus has a low new housing inventory for workforce renters and buyers. This has created the demand for newly constructed workforce housing extremely high, with most new homes pre-selling for higher than listed prices. Columbus has a waiting list of 50,000 people needing affordable, rental, workforce housing.
Demonstration Project involves funding the development expenses associated with the new construction of one (1) ranch style 960 Square foot; three (3) bedroom; two (2) baths, residential home. Hard and Soft Cost less Land and Closing Cost $212,250.
Return-On-Investment
Estimated between 12%-17%
Distinctively coordinate business expertise for fully researched potentialities.
Below is en example of the Workforce Housing models we are working on.
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