The Largest New Rentals Delivered in Columbus in 2015
- Mar 24, 2016
By Balazs Szekely, Contributing Editor
Columbus, Ohio—Rental demand is on the rise in Columbus, and developers are rising to the challenge by constructing ever larger properties. In 2014, 801 Polaris was the largest project with its 282 units in Northeast Columbus, and one year later it was overshadowed by LC Brooklands with as many as 439 units, according to Yardi Matrix. Building big meant that even though roughly the same amount of projects came online, the unit count boosted from 1,468 in 2014 to 2,333 in 2015.
With the Crossroads of Ohio showing a strong employment market, Columbus apartments are attracting tenants from elsewhere. The average rent is currently at $809 with developments completed since 2010 commanding an average of $1,211.
Check out some of the latest and greatest apartment developments completed in Columbus in 2015:
1. LC Brooklands, 439 units
Lifestyle Communities has picked a retro look and feel for its latest development. The focus is on two-bedroom apartments, leaving just over a quarter of the rental space for one-bedroom units. The classic brownstone look is complemented with wooden floors, but the open-plan living spaces reflect the modern demand for compact living with a spacious feel. Following the trend towards fitness and leisure, a gym and restaurant are part of the building’s amenities. (Photo credit: Google Street View)
2. Taylor House, 325 units
The 325 rental units at Preferred Living’s Taylor House project target young professionals with a roughly 50/50 split between one and two bedroom apartments. The development highlights the demand for rental apartments in or just outside the city with amenities such as a fitness center, business center and high speed internet. Social and leisure needs are catered for with a swimming pool and a clubhouse that reflects the need for ‘in-house’ entertainment opportunities we are seeing in today’s market. (Image courtesy of Yardi Matrix)
3. Apartments at the Yard, 276 units
Nationwide Realty Investors is aiming at an upmarket niche with its one- and two-bedroom apartments in the Grandview Yard complex. Besides selecting designer finishes and offering private terraces and balconies, the Grandview Yard with its restaurants and smart retail outlets provides an additional incentive to prospective tenants. Considerable investment has been made in a pedestrian-friendly design complete with lush, landscaped gardens. This development reflects the drive towards self-contained, village-like communities in larger urban areas. (Image courtesy of Apartments at the Yard Facebook page)
4. Albany Glen, 264 units
This low-rise development, a partnership between Casto and local investors Robert Weiler Co. and Donald W. Kelley Associates, appears at first glance to be a complex of palatial homes, but instead, the 264 rental units are one- and two-bedroom apartments. However, the focus on luxury amenities matches the street view with everything from a pool, tanning salon and billiards room to the fitness center. (Image courtesy of RENTCafé)
5. Grand at Polaris, 196 units
Once again, the focus is on low-rise luxury, with developers Schottenstein Real Estate Group producing a 196-unit apartment complex that looks more like a country club. The range of amenities includes a movie theater, the usual fitness center and outdoor recreation and entertainment areas. This development illustrates the demand for compact, one- to three-bedroom apartments with a suburban feel and luxury amenities. (Image courtesy of Grand at Polaris Facebook page)
For more of 2015’s largest apartment projects in Columbus, check out the complete list on the RENTCafé Blog.