Latest news with #Columbus-area
Axios
7 days ago
- Business
- Axios
How investors affect Columbus' housing market
Over 7% of Columbus-area homes sold in Q1 2025 went to institutional investors, straining our already strapped housing market. Why it matters: Investors like hedge funds, private equity firms or real estate investment trusts often buy homes in cash and in bulk — outcompeting average families, especially first-time homebuyers. The big picture: Columbus' share is about 1 percentage point higher than the national rate (6.3%), per a report from real estate firm ATTOM. The data measures entities that purchased at least 10 residential properties in a calendar year. Sales have been trending downward nationally since a pandemic peak, but they're holding steady locally. Between the lines: Markets attractive to investors have strong population and job growth, solid rental yields, landlord-friendly regulations, affordability and long-term appreciation potential, ATTOM CEO Rob Barber told Axios. Columbus is one of the top U.S. markets for "mega investors," per a 2023 Urban Institute study. Zoom in: A recent Dispatch investigation found that six national companies control more than 6,000 Columbus-area homes. The corporate landlords: American Homes 4 Rent, Amherst, FirstKey Homes, Progress Residential, Starwood Capital and Vinebrook Homes. American and Vinebrook have been active here for over a decade and were initially focused on the inner city, while the others entered our market during the pandemic and are targeting suburban neighborhoods. Friction point: Carlie Boos, executive director of the Affordable Housing Alliance of Central Ohio, told the Dispatch she's concerned investors are inflating prices and limiting inventory. Company representatives noted they own just a fraction of all homes and said they're expanding rental opportunities for families that can't afford to buy in nicer areas. What we're watching: State lawmakers have introduced bills aiming to curb institutional investor activity in recent years but haven't made progress.
Axios
30-06-2025
- Business
- Axios
April home sale prices dip first time since 2013
The median price of Columbus-area homes sold in April was 1% lower than a year earlier, per Redfin data. Why it matters: It's been over a decade since sale prices last dropped year-over-year in April, typically considered the kickoff of homebuying season and when prices start to climb. While 1% might sound like a small decrease, local buyers will take any victory in this hot and hectic housing market. It still equals thousands of dollars saved over the length of a mortgage, when considering interest. The big picture: Just 12 of the 50 largest U.S. metros saw prices dip in April compared to a year ago, according to Redfin. Columbus was the only Midwest city to experience a decline. Cleveland prices increased nearly 12% and Cincinnati prices increased 6%. Zoom in: From 2014-2024, year-over-year April increases in Columbus ranged 4%-17%. This year's drop and steadily increasing inventory suggest our sizzling housing market may be cooling off a bit, as sellers are starting to outpace buyers. Reality check: April 2025's median sale price in Central Ohio ($337,000) is still 53% higher than before the pandemic ($220,000 in April 2019). That and mortgage rates are sidelining many potential homebuyers, especially first-timers. New data from JPMorganChase show the lack of affordable housing disproportionately impacts Columbus' lower-income areas.
Yahoo
23-06-2025
- Automotive
- Yahoo
RaceTrac's Ohio land purchases exceed $13 million; Columbus-area location looms
COLUMBUS, Ohio (WCMH) — A Georgia-based convenience store and gas station chain is buying up Ohio land for future locations ahead of the brand's long-awaited Columbus-area debut. RaceTrac has purchased various central Ohio properties totaling at least $13.3 million, county auditor's office records show. Along with a 10-acre site near Rickenbacker International Airport at 2555 London Groveport Road acquired in March for an undisclosed amount, the chain has bought the following land: 16.5-acre site at 30 Rathmell Road for $6.2 million in June 2024. 3.7-acre site along Winchester Pike for $2.1 million in February 2025. 2.4-acre site along U.S. 23 in Circleville for $2.85 million in May 2025. Now open: New restaurants, businesses in central Ohio in June 2025 The acquisitions come as RaceTrac is constructing its first central Ohio location in Delaware at 2201 State Route 37 East, a 5.3-acre site purchased for $2.2 million in November 2023. The chain received final approval from the city's planning commission in February and, once completed, it will mark RaceTrac's second in the state after the first opened last December in Findlay. 'RaceTrac is firmly committed to expanding its reach in Ohio following the successful opening of our first store in Findlay,' a spokesperson said in a statement. 'We are not yet ready to announce our next opening, but we look forward to doing so soon and are still committed to growing throughout the state for years to come.' The Delaware gas station has been in development for several years, having received unanimous support from city council in August 2023 when it was believed the State Route 37 store could be Ohio's first. The planning commission joked during the February meeting that 'RaceTrac obviously doesn't build as fast as Sheetz,' with one member referring to the chain as 'SlowTrac.' Gahanna unveils mountain bike trail at Academy Park Plans call for RaceTrac's Delaware footprint to include a 6,008-square-foot convenience store accompanied by eight traditional fueling islands, diesel fueling islands and 34 parking spaces. When the chain introduced the proposal in early 2023, a spokesperson said 'RaceTrac believes [central Ohio's] diverse population, along with the growth in commuting and mobile workplaces, is a natural fit for its stores.' RaceTrac has been operating since 1934 and has grown to more than 580 locations across states like Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, Tennessee, Texas. Each storefront is stocked with beverages, snacks, Swirl World frozen desserts, coffee and more. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
23-06-2025
- Climate
- Yahoo
Storms lead to Crew stadium concert delay, frustration
COLUMBUS, Ohio (WCMH) — Storms rolling through Columbus on Wednesday created confusion at Historic Crew Stadium, delaying a scheduled concert by hours, and now many concertgoers said they are disappointed and asking for answers. Hozier was scheduled to play the stadium and concertgoers claim the venue's lack of communication led to safety concerns. Intel's delay is costing AEP Ohio, but company says price hikes are unrelated A number of people who were at the concert reached out to NBC4 with concerns, saying the weather delay started around 8:30 Wednesday night. Jessica Huckleberry traveled from Cincinnati. She shared a video she took which shows a tunnel at the stadium where she and several others were stuck for nearly two hours while waiting for the show to start. At one point, she asked if they could have water due to the high temperatures and was told none was being sold at that time. When the concert finally began around 10:30 p.m., Huckleberry said people were nearly trampled while heading back to their seats. 'I think it was handled really poorly by the venue,' she said. 'I don't think there was a good regard for people's safety at all. If they were going to delay us for two hours due to lightning and wind, you know, why not cancel or reschedule the show.' What salary is needed to live comfortably in Ohio in 2025, according to recent study Paige Finscally traveled from Dayton. She said she was there to celebrate her sister's graduation. Finscally said she spent a lot of money on floor seats, but when the delay started, she chose to wait out the rain in her car. She said she kept trying to check social media and the website for updates on the delays, but there was no cell phone service. She said they ended up leaving before Hozier took the stage. 'It was really disappointing and pretty frustrating the longer that we sort of just didn't get communication from them,' she said. 'I understand, like, a lot of people probably came from further away, like out of state. So, it's really hard because they really want to see him. But just the safety of it all. Yeah, they're not kind of taking that into consideration and canceling it sooner.' A spokesperson for Historic Crew Stadium said there is an extensive weather policy that stadium personnel follow, including using technology to track the location of lightning; the stadium is not permitted to resume operations until 30 minutes after receiving the all clear. The spokesman said everyone who went to their cars during the storm should have been allowed back inside the stadium with proof of tickets. RaceTrac's Ohio land purchases exceed $13 million; Columbus-area location looms In a statement, the stadium spokesperson wrote: 'Historic Crew Stadium's first priority for all events is the safety of fans and staff. In collaboration with Live Nation, we promptly executed and communicated the inclement weather protocol prior to the concert, directing all attendees to secure locations and provided updates as the situation progressed. Following industry best practices, the concert proceeded only after all potential for lightning in the area had dissipated while we continued to closely monitor weather conditions throughout the event.' Some concert attendees have also been reaching out to Live Nation about refunds. Live Nation has not responded to an NBC4 request for comment. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
05-06-2025
- Politics
- Yahoo
Top Ohio House Democrat to step down from leadership
Jun. 5—Ohio House Minority Leader Allison Russo plans to step down from her post in leadership once the state's budget process is finished at the end of June. Russo, a term-limited Columbus-area Democrat who has led the House's minority caucus since 2022, will serve out the remainder of her term but will step down "to pave the way for a smooth transition of leadership," according to a Thursday statement. Now one of the best-known Democrats in Ohio politics, Russo said decisions on her political future will come at a later time. Her early departure from leadership does coincide with preparations for the 2026 election cycle, in which every Ohio executive political office is up for re-election. "Serving as the Ohio House minority leader for the last three-and-a-half years has been an incredible honor. It has been one of the most challenging yet rewarding positions I've had the privilege to hold," Russo said. "This role has allowed me to shape our Democratic policy priorities, be an unwavering voice for the needs of Ohio working families, and recruit talented new legislators and a team of hardworking staff to carry out these priorities." In 2021, Russo ran for Congress against Republican Columbus-area incumbent U.S. Rep. Mike Carey and was defeated handily. ------ For more stories like this, sign up for our Ohio Politics newsletter. It's free, curated, and delivered straight to your inbox every Thursday evening. Avery Kreemer can be reached at 614-981-1422, on X, via email, or you can drop him a comment/tip with the survey below.
