CMHA and POAH announce a massive $14 million renovation project will begin at Blacklick’s Walnut Grove Apartments in November

COLUMBUS, Ohio –– The 440 or so residents and families who live at Walnut Grove Apartments in Blacklick will have a special reason to celebrate this Thanksgiving and holiday season.

The Columbus Metropolitan Housing Authority (CMHA) and national nonprofit developer Preservation of Affordable Housing (POAH) announced today that one of the largest cost-per-unit renovations of a CMHA property this century will kick off in November, with $14 million – equivalent to $80,000 per unit – targeted for upgrades to the entire 176-unit family development.

The massive restoration is part of a $52.5 million partnership POAH and CMHA formed to revitalize Walnut Grove through replacements or upgrades of major building systems nearing the end of their operational lifespan. CMHA will jointly own Walnut Grove with POAH, ensuring Walnut Grove rents will remain affordable for the next 30 years to low- and middle-wage-earning households, continuing through at least 2056.

The remaining $17.3 million covers standard costs associated with these types of transactions, such as architectural design, permit approvals, attorney fees, construction loan interest, and maintaining an operational reserve. The property will continue to be managed by POAH Communities, POAH’s property management subsidiary.

“Walnut Grove is exactly the kind of community we must protect for hard-working, low- and middle-income residents as Central Ohio continues to grow and prosper,” said CMHA President and CEO Charles D. Hillman. “Through our collaboration with POAH, we are preserving 176 homes, making meaningful improvements for residents, and creating a sustainable financial structure that will keep this community affordable for years to come.”

Situated in eastern Franklin County, the Walnut Grove community, at 751 Chester Grove Dr., is next door to the CMHA-owned Chestnut Grove Apartments off Wengert Road, near the corner of Wengert and North Waggoner Roads, roughly 20-25 minutes from downtown Columbus. While Chestnut Grove caters to older adults over 62, Walnut Grove has townhomes and apartment units for rent for mixed-income individuals and families.

“This investment will solve Walnut Grove’s most important physical needs while preserving the stability of a community that families have called home for more than two decades,” said POAH Midwest Senior Vice President William Eager. “CMHA’s participation strengthens the partnership and helps preserve Walnut Grove as an affordable, well-maintained community for the long term.”

Because Walnut Grove is an income-restricted affordable housing community under the CMHA-POAH ownership structure, the rent does not fluctuate in a typical market-rate “range.” Instead, the price of monthly rent for a 2-bedroom apartment remains set at $1,163. For comparison, the broader Blacklick-area average rent is $1,441 to $1,697 for a standard 2-bedroom unit, or as much as $2,700 per month in upscale communities such as Rocky Fork-Blacklick. Walnut Grove tenants who receive housing assistance subsidies from CMHA may pay even lower monthly rents, with their share of rent determined by how much they earn up to the federal limit of 60% of the Area Median Income, which for a two-person household in Blacklick is $52,320 annually based on current federal guidelines for the Columbus metropolitan area. Originally constructed in 2003, Walnut Grove includes 17 multifamily townhouse buildings and 50 one- and two-story single-family homes with single-car garages. The development contains 64 two-bedroom, 62 three-bedroom and 50 four-bedroom units. The property sits on 18 acres on a roughly 25-acre campus shared by two other properties owned by National Church Residences. Amenities include two playgrounds and a community building with management offices, plus a laundry and community room.

The approximately $14 million rehabilitation program will focus on major building systems and resident homes.
Planned improvements include:

· Replacement of aging HVAC systems, roofs, windows, entry doors, water heaters, and plumbing fixtures;

· New kitchen cabinetry, countertops, bathroom improvements, and flooring, based on the condition of each apartment;

· Accessibility improvements, including mobility- and sensory-accessible apartments and improved routes to community amenities;

· Fully adapting 10 units as ADA-compliant, with another 8 units becoming semi-ambulatory and potentially convertible to meet ADA compliance;

· Energy-efficient lighting, appliances, and mechanical systems; and

· Site, landscaping, paving, sidewalk, exterior, and community-building improvements.

Construction will begin in November and be conducted in phases through spring 2028. Because existing building conditions differ across the Walnut Grove property, the precise scope of interior work will vary from apartment to apartment. To complete the first phase of renovations at Walnut Grove, impacted residents will move to on-site temporary housing starting in October, and that process will continue until the entire project is finished over the next 17 months or so. POAH is providing a moving company to fully support all the Walnut Grove residents during their transition. The redevelopment uses a public-private financing structure that includes tax-exempt bonds issued through the Columbus-Franklin County Finance Authority, senior debt from ORIX, Low-Income Housing Tax Credits allocated by the Ohio Housing Finance Agency with equity invested by Boston Financial, sponsor financing from POAH, and a deferred developer fee.

Fifty apartments will continue to receive rental assistance through a Housing Assistance Payment contract with CMHA. The remaining apartments will be affordable to families earning up to 60% of the area median income, which is $65,400 per year for a four-person household and roughly equates to a monthly income limit of $5,450 or an hourly wage equivalent of approximately $31.44 per hour, assuming a single earner working a standard 40-hour work week, based on data from the U.S. Department of Housing and Urban Development (HUD).

About Columbus Metropolitan Housing Authority

The Columbus Metropolitan Housing Authority helps people access affordable housing through collaborative partnerships, promotes neighborhood revitalization, and assists residents in accessing needed social services. CMHA owns more than 7,000 mixed-income homes and, through its housing assistance programs, serves residents across Ohio and in Washington, D.C. Learn more at cmhanet.com.

About Preservation of Affordable Housing

Preservation of Affordable Housing is a national nonprofit developer, owner, and operator whose mission is to preserve, create, and sustain affordable, healthy homes that support economic security and access to opportunity for all. POAH owns and operates more than 14,000 affordable homes across 13 states and the District of Columbia, including 1,100 units in Ohio. Learn more at poah.org and @poahcommunities