Lincoln Avenue Communities Launches 321-Unit Affordable Housing Project in Columbus

COLUMBUS, OH – February 05, 2026 – Amid a severe housing crisis, Lincoln Avenue Communities (LAC) has announced it has closed financing for The Landmark on Scioto, a new 321-unit affordable housing development that marks the company's first ground-up project in Ohio. The development represents a significant private investment aimed at addressing the city's critical shortage of affordable homes for its workforce.

The project will provide high-quality rental housing for individuals and families earning up to 60% of the Area Median Income (AMI). This move by the mission-driven national developer signals a major step in a public-private effort to create tangible solutions for a city grappling with the pressures of rapid growth.

"We are proud to partner with state and local leaders to deliver homes that support working families, strengthen neighborhoods, and contribute to the city's long-term vitality," said James Riley, LAC Vice President and Regional Project Partner. "Investing in rapidly growing cities like Columbus is a key pillar of LAC's mission to tackle the housing crisis by finding and implementing solutions in communities that need them most."

A Lifeline in a Deepening Crisis

The Landmark on Scioto arrives at a critical moment for Columbus. The city's rapid economic and population growth has far outpaced its housing supply, creating a stark affordability gap that disproportionately affects its most vulnerable residents. Recent data paints a grim picture: a 2025 report from the National Low Income Housing Coalition and the Coalition on Homelessness and Housing in Ohio found that Columbus has only 25 affordable and available rental units for every 100 extremely low-income households. This ratio is worse than in notoriously expensive markets like San Francisco or New York City.

This shortage, estimated at over 52,000 units city-wide, has tangible consequences. According to state-level data, 71% of Ohio's extremely low-income tenants spend more than half of their income on housing, placing them under severe financial strain. The crisis affects a wide range of demographics, with households headed by women and people of color being disproportionately impacted. The housing squeeze has also contributed to a 1.8% increase in homelessness in Columbus and Franklin County in the past year. A recent survey revealed that half of all Central Ohioans have been personally and negatively impacted by the housing shortage, highlighting the issue's pervasive reach.

More Than Homes: A Community-Integrated Approach

Set on a 44.5-acre site, The Landmark on Scioto is designed to be more than just housing. The development plan includes 257 one- and two-story buildings that will house the 321 two-, three-, and four-bedroom units. Residents will have access to a suite of amenities, including a fitness center, a swimming pool, a clubhouse, and outdoor grilling and eating areas.

A key feature of the project is LAC's commitment to dedicate approximately 7 acres of the site to the City of Columbus for the creation of a new public park. This contribution of green space aligns with the city's highly successful efforts to revitalize the Scioto River corridor through projects like the Scioto Mile and Scioto Greenways, which have reclaimed industrial land for public recreation and ecological restoration.

This community-focused approach may prove crucial for the project's success and integration. While the need for affordable housing is widely acknowledged, large-scale developments can sometimes face local opposition. The inclusion of a public park demonstrates a commitment to enhancing the broader neighborhood, not just serving its own residents, potentially fostering a more welcoming reception.

"This project represents a meaningful, substantive partnership between LAC and the City of Columbus," Riley added. "We're excited not only to provide quality affordable housing but also to contribute green space and recreational opportunities to the wider community."

The Power of a Financial Partnership

Bringing a project of this scale to fruition requires a complex and robust financial structure, underscoring the power of public-private partnerships. A cornerstone of the financing is a massive investment from the Ohio Capital Corporation for Housing (OCCH), a key player in the state's affordable housing landscape.

"OCCH is proud to partner with Lincoln Avenue Communities on The Landmark on Scioto," stated Catherine Cawthon, President & CEO of OCCH. "OCCH is providing over $51 million in investor equity and a $5 million bridge loan via our lending affiliate, OCFC. This marks one of our largest deals to date, and we are honored to work with the Lincoln Avenue team on our mission of advancing the production of affordable housing, an urgent need in our home city of Columbus."

While not detailed in the announcement, the project's capital stack likely includes a blend of other crucial funding sources. The primary tool for financing affordable rental housing in the U.S. is the Low-Income Housing Tax Credit (LIHTC) program, which is administered in Ohio by the Ohio Housing Finance Agency (OHFA). It is highly probable that federal tax credits provide a significant portion of the project's equity. Furthermore, the development is buttressed by Columbus's own proactive policies. City voters have twice approved major bond packages, authorizing a combined $250 million in 2019 and 2022 to support affordable housing initiatives, funds that are often used to leverage private investments like this one.

A National Developer's Strategic Ohio Entry

For Lincoln Avenue Communities, The Landmark on Scioto is a strategic entry into the Ohio market. As one of the nation's fastest-growing developers and operators of affordable housing, LAC has a portfolio of over 170 properties in 32 states, housing more than 80,000 residents. The company's decision to launch its first Ohio ground-up project in Columbus highlights the city's status as a key growth market with an urgent need for the developer's mission-driven model.

LAC's strategy focuses on identifying and investing in communities where the housing crisis is most acute, and its ability to execute large-scale projects is a testament to its expertise in navigating complex financing and development landscapes. This expansion into Ohio signals the company's continued growth and its commitment to deploying its resources where they can have a substantial impact. The project aligns perfectly with a supportive local policy environment, where the city's comprehensive housing strategy and voter-approved funds create a fertile ground for developers committed to building more inclusive communities.