Columbus Downtown Apartment Building Boom Complete With Sky High Occupancy Rate

Posted August 7, 2015

Columbus adds several hundred units per year downtown and has been doing so for several years, but the demand keeps building.

According to a report released by the Capital Crossroads Special Improvement District, the Downtown district has a market occupancy of 95%. That’s about as close to full occupancy as you can get considering normal unit turnover. This number includes the Atlas building, which hasn’t started move-in yet.

Downtown is now home to 7,500 residents in 5,250 housing units and is expected to climb to 10,000 residents by 2018.

2015 construction to date includes the 98 units in the Atlas building, 500 units at RiverSouth, 250 S High, The Julian, The Citizens building, plus several more.

There has been over $1billion in private investment in the last decade. This will have a positive impact on net leased retail, specialty fast casual and polished casual restaurant space and maybe a grocery or two. I think it will also help with the still too high office vacancy rate. We won’t get any new office towers until that rate declines further.

Report is linked below

http://downtowncolumbus.com/docs/default-source/retail/ccsid-2014-year-end-report_web.pdf?sfvrsn=0

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