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2023 Non-Residential Development that Overcame Significant Obstacles

The Historic Trolley District 

Developer: Connect Realty, LLC
Location: Columbus, OH

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The COVID-19 pandemic, delays in sourcing materials, price increases and a fire on the roof of one of its buildings wasn’t enough to stop Connect Realty LLC from being able to complete the East Market Trolley Barn in Columbus, Ohio. Nor was a wall collapse due to heavy rain that coincided with workers being unable to be on-site due to a government-mandated shutdown. The five buildings in Trolley Barn were all built more than 100 years ago in the Franklin Park neighborhood in Columbus, with the original building intended to be a horse stable. The building operated during the city’s streetcar era and then transitioned to serve the city’s bus transit system. In its latest iteration, it is a multitenant mixed-use property with a public food market and event space, restaurants, headquarters for a national business, opportunity zones coworking office and 65,160 square feet of rentable space. Bank of America provided $2.8 million in federal HTC equity and Foss Ohio Fund provided $1.8 million in state HTC equity.

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