Building coming down for new downtown Columbus project

Demolition work is underway at the corner of 11th and Washington Streets in Columbus.

That comes after City Council gave its first approval this week to provide $6.4 million to help with a housing and commercial project at the site of the former Joe Willy’s.

Rubicon Investment Group of Bloomington is planning to build a a $30.9 million project with a five-story building including a parking garage, commercial space and 120 housing units. The site has included two homes, the former restaurant and a drive-through bank building. The developers are asking the city to provide $6.4 million in funding through a forgivable loan that would come from property taxes paid into the downtown Tax Increment Financing District.

The apartment rents are expected to range from $1,320 to just over $2,300 a month. 24 of the apartments would be 600 square foot studios all the way to 1,100 square foot three bedroom units.

City Council gave its first approval of the loan this week with Council members Chris Bartels and Grace Kestler voting against it.

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