Argosy Real Estate Partners Acquires Opportunity Zone Site for the Development of Peer on 7th in Columbus, OH
We are pleased to announce that Argosy Real Estate Partners, in partnership with Peerless Development, has acquired an approximately 0.83-acre Opportunity Zone site in downtown Columbus, OH for the development of a six-story, 125-unit multifamily community. The project is located just one-quarter mile south of the main campus for The Ohio State University and is at the northern edge of the Short North Arts District, a vibrant mixed-use corridor along North High Street containing numerous art galleries, restaurants, bars, and shops that commands the highest apartment rents in the Columbus MSA, according to CoStar. The project is scheduled to be delivered in the summer of 2024 and will feature smaller unit sizes averaging 750 sf, which are intended to appeal to the large number of students and young professionals that populate the area.
The investment was made alongside Peerless Development, a Chicago-based real estate development company specializing in multifamily, student housing and mixed-use communities within top submarkets across the Midwest. Peerless has over 800 units in their pipeline including the Chicago, Columbus, Champaign, and Bloomington markets.