The NRP Group Breaks Ground on Columbus Affordable Housing
The project is a public-private partnership with the City of Columbus and the Ohio Housing Finance Agency.
The NRP Group dhas started construction on Stone Ridge at High Street, a 150-unit affordable housing community in Columbus, Ohio. Completion is slated for April 2028.
Stone Ridge at High Street is being developed in partnership with the City of Columbus and the Ohio Housing Finance Agency as a property for working professionals and families earning up to 60 percent of the area median income.
Development and financing partners include Huntington Bank, which provided debt and equity financing, as well as Deutsche Bank which subsidized the project with both construction and permanent loans. The amounts were not disclosed
Aaron Pechota, executive vice president of development at The NRP Group, said in prepared remarks that Stone Ridge at High Street is a direct investment in South Columbus and builds on the firm’s nearly 15 years of work in the city. He noted the property was a former industrial site that sat vacant for many years, despite its proximity to downtown Columbus and city employment centers such as German Village and the Brewery District.
Stone Ridge at High Street highlights
The public-private partnership is transforming the formerly distressed site into a community with housing for families and working professionals on the South Side.
Stone Ridge at High Street will comprise two five-story buildings on a 4.5-acre site. Each building will have a mix of one-, two-, three- and four-bedroom apartments. Amenities will include a clubhouse and multipurpose community room with a kitchen for gatherings and events. Outdoor features will include a playground and landscaped courtyards.
READ ALSO: National Affordable Housing Report
Located at 45 W. Barthman Ave., the site is approximately 1 mile from downtown Columbus. Residents will have access to public transit within the South High Street corridor, one of the city’s primary transportation arteries.
The NRP Group’s expanding portfolio
Since its founding in 1994, NRP has developed more than 68,000 multifamily residences and currently manages more than 33,000 units. The company has built more than 5,000 rental homes since 1994 across Ohio. Its most recent project is The Lofton, a 245-unit multifamily property with one- to four-bedroom layouts that it completed last November in Columbus’ South High neighborhood.
Earlier this month, NRP broke ground on a 312-unit luxury community in Port St. Lucie, Fla., within the 10,000-acre Tradition master-planned development. The 18-acre project is slated for delivery by summer 2028. The property will encompass 10 three-story buildings with one-, two- and three-bedroom living arrangements.
Located at 13661 SW Village Parkway, the community will be near Interstate 95 and is 20 miles south of the Treasure Coast International Airport.
Also this month, the city of New York closed on financing for Sol on Park, a $214 million, 229-unit affordable senior housing development that will be built on the New York City Housing Authority’s Morris Houses campus. The NRP Group is among several firms providing construction and other services for the project. Move-ins are slated for early 2029.
In March, the company broke ground on The Waymark, a 109-unit affordable housing project in Washington, D.C. The property is being developed through a joint venture with Marshall Heights Community Development Organization for individuals and families earning up to 30, 50 and 80 percent of AMI. Delivery is expected in late 2027.
A month later, NRP broke ground on the first phase of a 341-unit mixed-income multifamily development at the site of a former school in Austin, Texas. NRP is working in partnership with the Austin Independent School District to transform the site into 675 units of housing. The first homes will begin lease-up in the fall of 2027.
