Explanation
BACKGROUND: Lotus Advantage Steelton I, LLC (“Developer”) is undertaking the first phase of residential development associated with the Steelton Village project. Steelton Village is an approximately fifty (50) acre mixed-use development situated on the east and west sides of South High Street, north of State Route 104 in the South Side planning area. The initial planning of the development began on the east side of South High Street in 2017 with the acquisition of the former Seagrave Manufacturing building located at 2000 South High Street. The 220,000 square foot warehouse, branded as The Fort, is home to Fortner Upholstering, a 95-year-old local furniture maker and serves as Steelton Village’s commercial hub . Steelton Village parcels situated on the west side of South High Street will be developed into a new urban neighborhood with up to 1,200 market rate and affordable housing units (the “Residential Development”).
The Developer is undertaking the first phase of the Residential Development, which will be sited on 16.41 +/- acres of real property generally located at 1981 South High Street and identified by Franklin County Auditor Parcel ID number 010-066158, 010-066159, 010-008499, 010-112264, and 010-103973 (the “Site”). Pursuant to Ordinance No. 0287-2026 the Site was rezoned from M. Manufacturing District to AR-O, Apartment Office District to allow for multi-family residential development without density limitations. The Developer is investing more than $200 million into the Site to construct 455 multi-family residential units that will be affordable to households earning 60% of the Area Median Income (“AMI”).The project will also include a new public park and associated public infrastructure improvements, including a new road connecting the new park to South High Street.
In support of the project meeting City policy goals related to affordable housing, the Department of Development will submit for City Council consideration, subsequent legislation authorizing the following: 1) a total of up to $7.8 million in City Housing Bonds funds under the Rental Housing Production and Preservation Program; 2) a capital commitment of up to $8 million to assist with costs associated with the design and construction of a new public park and associated roadway connection from South High Street; and 3) a new Tax Increment Financing (TIF) area and New Community Authority (if requested) to assist with additional public improvements needed to support the Residential Development .
The Developer intends to submit Affordable Housing Funding Applications to the Ohio Housing Finance Agency (OHFA) for four percent (4%) Low Income Housing Tax Credits (“LIHTC”) for the first phase of the project. The Developer’s investment and the City’s commitments are contingent upon the Developer securing Low Income Housing Tax Credits for the project.
FISCAL IMPACT: No funding is required for this legislation.
EMERGENCY DESIGNATION: The Developer intends to apply for the Ohio Transformational Mixed-Use Development (TMUD) tax credit program, therefore, an emergency exists in the usual daily operation of the Department of Development in that emergency action is necessary to allow for the immediate execution of the Development Agreement to meet the TMUD application deadline by April 22, 2026.
Title
To authorize the Director of the Department of Development to enter into a Development Agreement with Lotus Advantage Steelton I, LLC to outline the plans and certain commitments of the parties as it relates to the Steelton Village (Residential) project in the South Side planning area, and to declare an emergency. ($0.00)
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WHEREAS, Steelton Village is a proposed +50 acre mixed-use development situated on the east and west sides of South High Street, north of State Route 104 in the South Side planning area (“Steelton Village”); and
WHEREAS, the initial planning of Steelton Village began on the east side of South High Street in 2017 with the acquisition of the former Seagrave Manufacturing building located at 2000 South High Street, which upon completion will serve as the commercial hub for the district (“The Fort”); and
WHEREAS, subsequent phases of Steelton Village will include the development of certain parcels on the west side of South High Street into a new urban neighborhood with up to 1,200 market rate and affordable housing units (the “Residential Development”); and
WHEREAS, the Developer is undertaking the first phase of the project’s Residential Development, which will be sited on +16.41 acres of real property located at 1981 South High Street and currently identified as Franklin County Auditor tax parcel ID numbers 010-066158, 010-066159, 010-008499, 010-112264, and 010-103973 (the "Site"); and
WHEREAS, pursuant to Ordinance No. 0287-2026 passed by Columbus City Council on February 9, 2026, the Site was rezoned from M, Manufacturing to AR-O, Apartment Office District to allow for multi-family residential development without density limitations; and
WHEREAS, the Developer plans to invest more than $200 million into the Site to construct approximately 455 multi-family residential units that will be affordable to households earning 60% of the Area Median Income (AMI) in addition to a new public park and associated public infrastructure improvements; and
WHEREAS, the Developer’s investment is contingent upon the Developer securing 4% Low Income Housing Tax Credits (LIHTC) from the Ohio Housing Finance Agency; and
WHEREAS, in support of the project meeting City policy goals related to housing, the Department of Development will submit for City Council consideration, subsequent legislation authorizing the following: 1) a total of up to $7.8 million in City Housing Bonds funds under the Rental Housing Production and Preservation Program; 2) a capital commitment of up to $8 million to assist with costs associated with the design and construction of a new public park and associated roadway connection from South High Street; and 3) a new Tax Increment Financing (TIF) area and New Community Authority (if requested) to assist with additional Site public improvements; and
WHEREAS, the project is being undertaken as a Public-Private Partnership (P3) between the City and the Developer as a signature infill redevelopment project for the South High Street corridor that will include certain City incentives that will be predicated on the conditions that the Developer secures the 4% Low Income Housing Tax Credits (LIHTC) and meets certain City policy goals; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that emergency action is necessary to allow the Director of the Department of Development to immediately execute the Development Agreement, on behalf of the City, so as to meet the April 22, 2026 deadline for the Developer’s submission of an application for Ohio Transformational Mixed-Use Development (TMUD) tax credits, all for the immediate preservation of the public health, peace, property, safety and welfare; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Department of Development or his or her designee (the “Director”), on behalf of the City, is hereby authorized to enter into the Development Agreement with Lotus Advantage Steelton I, LLC presently on file with the Department of Development, along with any changes or amendments thereto not inconsistent with this Ordinance and not substantially adverse to the City and which shall be approved by the Director and the City Attorney, provided that the approval of such changes and amendments thereto, and the character of those changes and amendments not being substantially adverse to the City, shall be evidenced conclusively by the execution and delivery of the Development Agreement with the Developer to outline the plans and certain commitments of the City and the Developer relating to the proposed development of the Site.
SECTION 2. That for reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.