Inside INdiana Business

Columbus downtown to undergo $40 million redevelopment

The Columbus Redevelopment Commission has developed a $40M redevelopment project. (photo courtesy: Flaherty & Collins Property)

COLUMBUS, Ind. (Inside INdiana Business) — The Columbus Redevelopment Commission has unanimously approved Phase I of a $40 million, mixed-use development for downtown Columbus. The first phase of the project includes 200 market-rate apartments, an urban grocery, and 15,000 square feet of retail and restaurant space.

The CRC has entered a contract with Indianapolis-based developer Flaherty & Collins Properties.

The redevelopment commission says it plans to use proceeds from the future increase in property assessments on the site to create additional development options.

“This project will help transform downtown Columbus, especially for residential development,” said Mayor James Lienhoop. “Having an urban grocery easily walkable for all of downtown’s residents will help encourage even more private investment in our downtown.”

Phase I is expected to break ground in early 2022 with a gradual opening in 2023 and 2024. The second phase of the development includes plans for a hotel and conference center.