Gates Junction

Finance Fund Co-Develops 60 Units of Affordable Housing for Franklinton Seniors

Finance Fund is co-developing a parcel of underutilized commercial space with National Church Residences (NCR) that will be developed into much-needed affordable housing for seniors in the Franklinton neighborhood on the west side of Downtown Columbus.

(NCR) is a national senior housing provider headquartered in Columbus. Model Group is the general contractor for Gates Junction, and Berardi and Partners, Inc. is the project architect. Finance Fund also provided loan to support acquisition of the project parcel.

Gates Junction will offer four stories of senior living that include supportive services provided by NCR and Integrated Services for Behavioral Health that ensure each resident can remain independent by preserving their quality of life. Amenities include a bike rack, community room, computer center, exercise room, in-unit laundry, recycling, and security cameras at all entrances. Other project funders include the City of Columbus, Ohio Housing Finance Agency, Huntington National Bank, and the National Equity Fund.

“Finance Fund has focused a number of programs and investments in Franklinton over the last decade and knew there was a critical need for affordable housing options specifically for seniors. By combining our experience working in the community with NCR’s expertise serving seniors, we knew we could achieve a meaningful impact to improve the quality of life for Franklinton’s senior residents.”
– Jeff Mohrman, Finance Fund Executive Vice President of Real Estate

The Franklinton neighborhood experiences a poverty rate of 37.7% and 74% of the population lives under $50,000 a year. Franklinton residents have the lowest life expectancy of any neighborhood in the State of Ohio, with the tragic life expectancy of age 60. This is 15 years less than the state average.

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