Apartment developer seeks $6.4 million from Columbus

Columbus City Council members are scheduled to consider a more than $6 million investment in a housing and commercial project at the corner of 11th and Washington Streets downtown, when they meet Tuesday evening.

Rubicon Investment Group of Bloomington is planning to build a project that would replace the former Joe Willy’s Burger Bar building and other unused spaces at just over two acres of property at the corner of 11th, Washington and Jackson Streets. That includes a residence, the former restaurant and a drive-thru bank building.

According to Heather Pope, director of redevelopment for the city, the company’s plans would be a $30.9 million project with a five-story building including a parking garage, commercial space and 120 housing units. The developers are asking the city to provide $6.4 million in funding through a forgivable loan from the city.

The Columbus Redevelopment Commission signed off on the proposal at their meeting last month. The money would come from the city’s tax increment financing revenue, which takes rising property taxes in an area and uses them to fund development of projects within that area.

Earlier this year, the city approved rezoning of the property to allow more dense development there.

Pope said the proposal would be before the City Council members when they meet at 6 p.m. Tuesday in the Council Chambers at Columbus City Hall.

Rubicon project rendering courtesy of developer via City of Columbus Redevelopment Department.