Lifestyle Communities Development

(Columbus) In his 2008 State of the City speech, Mayor Michael B. Coleman announced that Lifestyle Communities would break ground on more than 200 new apartments and condos along Front Street between Town and Rich streets. The Mayor is asking City Council to approve legislation tonight to invest more than $5 million in bond proceeds for public improvements to the area, including updated infrastructure like brick sidewalks and new granite curbs, that will beautify the area.

"As more apartments and condos are built downtown, more affordable options are needed to attract more renters and buyers, especially young professionals," Mayor Coleman said. "When it comes to building for the young and talented, Lifestyle Communities gets it and they are going to build a neighborhood in our RiverSouth area to enhance our Downtown housing options."

The $25 million private construction project will create a new neighborhood replacing four empty surface parking lots along Front Street between Town and Rich streets. Lifestyle Communities will bring both housing and on-site parking to the area, with 130 apartments starting from $750 to $990, and 76 condos selling between $125,000 and $250,000.

Recent public and private investments have made RiverSouth an emerging neighborhood. Construction for the Main Street Bridge has been under way for several years, and the Lazarus Building has been renovated into an award winning "green" office space and is 99% leased. The Scioto Mile Park is set to begin construction in May and the municipal garage at the corner of Front and Rich streets will be completed in the spring of 2009. Lifestyle Communities will move their corporate headquarters downtown in June.

In addition the City will begin the next phase of converting streets from 1-way to 2-way this summer, with completion expected in 2009. Road Conversions around RiverSouth will include:

The City of Columbus is helping lead the implementation of the Downtown Business Plan with the Columbus Downtown Development Corporation and local businesses. 2007 marks the fifth year of the 10-year plan to bring new investment, energy and activity into downtown. The total new investment in downtown since 2000 is estimated at $2.19 billion, with $711 million in public funding helping leverage $1.48 billion in private investment. This includes projects proposed, under construction, or built since 2000.