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Department of Development proposes $71 million new capital for affordable housing, preservation and targeted land acquisition
Summary
The Department of Development requested $71 million in new 2025 capital funding (about $198 million including carryover) focused primarily on affordable housing, housing preservation, Merchant Tower funding and targeted land acquisition to enable mixed‑use redevelopment.
The Department of Development told the Finance and Governance Committee it plans to deploy $71 million in new 2025 capital funds — and roughly $198 million including carryover — to advance affordable housing, housing preservation, nonprofit facility grants and targeted real‑estate acquisition.
Deputy Director Bill Webster said $50 million of the new funding is dedicated to affordable housing development, with about $47.2 million targeted to rental new construction. The department also listed $2 million for housing preservation and $800,000 for critical home repairs aimed at keeping homeowners in safe, livable homes.
Webster described strategic land acquisition as a deliberate tool to secure "site control" for future mixed‑use, affordable and transit‑oriented development along corridors. "When we want to ensure mixed use developments that are creating affordability, creating jobs, oftentimes there are locations where we believe that we can invest and that project will have a spin off impact," Webster said in response to council questions about acquisition strategy.
The budget includes a $13 million second installment for the Merchant Tower / North Market redevelopment (the presentation noted total city funding of $37 million over three years to leverage private investment). The department also set aside $6 million for capital grants to nonprofit partners for facility improvements and continued $3P (public‑private partnership) support for smaller and mid‑sized developers to help fill financing gaps in urban redevelopment projects.
On critical home repair, Webster explained the program is administered by the housing preservation team in the Department of Development: homeowners apply through the housing division and, if awarded, the city pairs applicants with pre‑qualified contractors to perform furnace, hot‑water tank and other urgent repairs.
Why it matters: The development department framed the 2025 capital ask as a continuation of a multi‑year strategy (build, invest, preserve, include) to expand affordable units across price points and preserve existing housing stock while using strategic acquisitions and gap financing to shape equitable development in growing corridors.
Looking ahead: Webster said the department is exploring opportunities to secure substantial additional affordable‑housing funding in coming years and plans to continue RFP and partnership strategies with the Columbus‑Franklin County Finance Authority and other partners.
