Stoddart Block Easement
260 S 4th St,
Columbus, OH 43215
In December of 2013, Heritage Ohio received a conservation easement on the Stoddart Block, and the adjoining Zettler Building, in downtown Columbus. For a building that began life as a furniture store, the newest chapter in its history would depend on millennials in search of a vibrant downtown.
As millennials continue to descend on downtown locations to live (and Columbus is no different than other big cities) the cost of prime downtown rentals continues to increase. To stem the rising rental cost, developers have turned to a new model: micro-living.
Trading off a living room in your apartment with a downtown “living room” full of entertainment options, the apartments’ modest square footage is ideally suited for the typical 20-something that hasn’t accumulated a lifetime of stuff or children! And pricing remains affordable—you can net a downtown Columbus address for less than $1,000 a month.
Beginning its existence as the Frohock Furniture Company, the building was well-suited for a conversion to residential use. From a financial standpoint, granting a conservation easement to Heritage Ohio provided the charitable deduction to the building owner that ultimately helped the project move forward. However, both the federal and state tax credits also provided critical sources of capital to make the project a reality.
Commented director Joyce Barrett, “The Stoddart and Zettler renovations brought new downtown living options, and a couple popular eateries, but also showed how historic buildings created for a specific use can be creatively repurposed to meet today’s needs.”
For more information on Heritage Ohio’s easement program, contact Frank Quinn at firstname.lastname@example.org or at 614.258.6200.
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