Downtown high-rise, former school, to become apartments
The projects were among 29 approved for Ohio Preservation Historic Tax Credits. The credits are worth $5 million for the Gay Street building and $2 million for the Starling Middle School project.
The company and Toledo-based Welltower together bought the 631,734-square-foot building in 2021 for $12 million, and Bernstein estimates the cost of the project at $107.7 million. The project also has been approved for $17 million in federal historic tax credits. According to the tax credit application, a coworking company plans to lease 17,500 square feet of the mezzanine and ground floor, and a ghost kitchen will lease 5,500 square feet on the lower level, in addition to operating a café and coffee shop.Woda Cooper Development Inc., a Columbus-based affordable-housing developer,the former Starling Middle School at 120 S. Central Ave. into 45 affordable housing units and build another 52 affordable apartments on the site.
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