Construction on the second phase of the River & Rich apartments in Franklinton should begin in the next several months after the Columbus Metropolitan Housing Authority board recently authorized a $47.5-million bond sale to help finance the development.
The second phase will be 234 apartments units with commercial space. According to CMHA, 10% of the units will be available for households earning 80% of the area median income ($55,550 for a one-person household and $79,350 for a four-person household), and another 10% of the units for those earning 100% of area median income ($69,500 for a one-person household and $99,200 for a four-person household).
Partners on this project include Casto, The Robert Weiler Co., The Kelley Companies, and Mark Cain, of S. Cain Development and Construction. Construction on the second phase should begin this spring or summer, said Robert Weiler, chairman of the board of The Robert Weiler Co.
“We had kind of put it on the shelf until CMHA came through,” Weiler said of the second phase.