The Columbus Report
Posts
Things to do in Columbus July 10-12

Things to do in Columbus July 10-12

JobsOhio Backs Defense Giant, Historic Franklinton Revival, and Passenger Rail Dreams...

Gagan Timsina
July 10, 2025

Hey, it's Gagan. Yep, the only Gagan Timsina in the world.

And here's what the FUTURE of Columbus Real Estate looks like

In today's newsletter:

Defense Manufacturing Revolution: Anduril secures record $310M JobsOhio grant for Arsenal-1 facility, creating 4,000 jobs with average salary of $132,305 - largest single-site grant in state history
Historic Preservation Victory: 1908 Starling Middle School transforms into 97-unit affordable housing complex, proving adaptive reuse can serve workforce families while preserving architectural heritage
Passenger Rail Renaissance: Ohio studies reveal potential for 3C&D corridor connecting Columbus to Cleveland, Cincinnati, and Dayton - first passenger service since 1979 could reshape regional connectivity
Commercial Growth Accelerates: New Albany adds 15,000 square feet of medical and retail space as healthcare practices seek high-visibility locations near business parks

ANDURIL SECURES RECORD $310M JOBSOHIO GRANT FOR ARSENAL-1 COMPLEX

The Costa Mesa defense contractor landed the largest single-site grant in JobsOhio history this week, cementing Central Ohio's position as a major defense manufacturing hub. The $310 million commitment accompanies Anduril's pledge to create over 4,000 jobs by 2035. [Columbus Business First]

Key Highlights:

$310 million grant payable over 10 years, with 20-year job maintenance requirement
4,000 new positions averaging $132,305 annually - $530 million in new payroll
Total capital investment reaches $910.5 million for 5-million-square-foot facility
Additional $452.2 million in state tax credits if job creation targets met

Strategic Significance: This grant validates my prediction that Columbus would become a defense manufacturing powerhouse. The timing couldn't be better - as traditional tech hubs face regulatory uncertainty and cost pressures, Columbus offers stability and operational efficiency that billion-dollar companies require.

From my perspective working corporate relocations, this signals a fundamental shift in how major defense contractors view Ohio. We're no longer just a manufacturing fallback - we're becoming the strategic choice for companies requiring skilled workforce, supply chain access, and regulatory predictability.

The average salary of $132,305 will drive significant housing demand in southern Delaware County, Pickaway County, and southeast Franklin County. Properties within 30 minutes of the Rickenbacker facility should see accelerated appreciation as thousands of high-skilled workers enter the market over the next decade.

For real estate investors, this represents a generational opportunity. The Arsenal-1 facility will create the largest single employment center in Central Ohio history, driving both rental demand and home purchases across multiple price points.

HISTORIC FRANKLINTON SCHOOL BECOMES 97-UNIT AFFORDABLE HOUSING SUCCESS

The adaptive reuse of the 1908 Starling Middle School demonstrates how historic preservation can address Columbus's affordable housing crisis. The $32.7 million Starling Yard project by Woda Cooper Companies transforms the endangered building into modern apartments while preserving original architectural features. [10TV]

Key Highlights:

97 units serving residents earning 30-80% of area median income
Rents ranging from $401 to $1,295 based on income and unit size
Historic building houses 45 units, two new buildings contain 52 units
Preserved original features including tin ceilings, hardwood floors, and chalkboards

Community Impact: This project proves that affordable housing doesn't require sacrificing architectural character or neighborhood identity. The Franklinton Development Association's support reflects growing recognition that workforce housing strengthens rather than weakens established communities.

The success of Starling Yard should encourage similar adaptive reuse projects throughout Columbus. With dozens of underutilized historic buildings across the city, this model offers a blueprint for preserving architectural heritage while addressing housing affordability.

For potential homebuyers, Franklinton's transformation continues accelerating. The neighborhood's proximity to downtown, combined with ongoing infrastructure improvements and historic character preservation, creates compelling long-term value propositions. Properties in the area should benefit from the positive momentum these developments create.

The project's financing through city, county, and private partnerships demonstrates institutional confidence in Franklinton's future. This level of coordinated investment typically precedes broader neighborhood appreciation.

PASSENGER RAIL STUDIES SIGNAL POTENTIAL COLUMBUS CONNECTIVITY REVOLUTION

Ohio's renewed examination of passenger rail service could end Columbus's status as America's largest city without rail connections. The 3C&D corridor study envisions three to five daily trips connecting Columbus, Cleveland, Cincinnati, and Dayton at speeds up to 80 mph. [NBC4]

Key Highlights:

First passenger service since 1979 would connect major Ohio cities
3C&D line targeting 3-5 daily trips with 80 mph maximum speeds
Additional CTD line could connect Cleveland, Toledo, and Detroit
Existing rail infrastructure already supports proposed routes

Regional Implications: While political will remains the primary obstacle, the economic logic for passenger rail grows stronger each year. Columbus's emergence as a defense manufacturing center, combined with Cleveland's healthcare sector and Cincinnati's corporate headquarters, creates legitimate business travel demand.

From a real estate perspective, successful passenger rail implementation would fundamentally alter Columbus's competitive position. Properties near potential station locations - likely downtown or near the airport - could see significant appreciation if service becomes reality.

The infrastructure already exists, which reduces implementation costs compared to high-speed rail proposals. This pragmatic approach may finally overcome the political resistance that killed previous initiatives.

For investors considering long-term positions, areas with potential rail station access represent asymmetric upside opportunities. If service launches, property values near stations typically increase 10-20% within five years of operations beginning.

THIS WEEKEND IN COLUMBUS: JULY 10-12

[Experience Columbus]

THIS WEEK'S WRAP-UP

Home owners: The Anduril grant confirms Columbus's emergence as a defense manufacturing hub, supporting long-term property values across southern suburbs. Franklinton's successful historic preservation demonstrates how adaptive reuse protects neighborhood character while addressing housing needs.

Home buyers: Consider areas within 30 minutes of Rickenbacker Airport for proximity to Arsenal-1 job creation. Franklinton properties offer compelling value as the neighborhood's transformation accelerates. Potential rail station locations present asymmetric upside opportunities for long-term investors.

Bottom line: This week showcases Columbus's evolution from regional center to strategic national destination. The combination of defense manufacturing investment, successful affordable housing models, and potential passenger rail connectivity creates a compelling case for residential investment across multiple market segments.

The $310 million JobsOhio grant represents more than economic development - it's validation that Columbus offers the stability, workforce, and infrastructure that billion-dollar companies require. Combined with proven adaptive reuse success and renewed rail connectivity discussions, these developments position Columbus for sustained growth across the next decade.

Ready to capitalize on these emerging opportunities? Let's discuss how these developments impact your housing strategy.

[Schedule a call]

See you next week,

— Gagan Timsina