550 W Broad St

Grateful Development Partners is advancing a five-story, 64-unit multifamily project at 550 W. Broad St. in Columbus, Ohio. This development integrates residential living with approximately 1,800 square feet of street-facing retail space and a ground-level parking garage accommodating 43 vehicles. Situated in the Franklinton neighborhood, the project is adjacent to significant historical landmarks, including the Columbus Historical Society’s Engine House No. 6 and the Harrison House

Project Overview

• Address: 550 W. Broad St., Columbus, OH 43215

• Residential Units: 64

• Retail Space: Approximately 1,800 SF

• Parking: 43 spaces in a ground-level garage

• Project Start Date: Spring 2025

• Architect: Archall Architects

• Developer: Grateful Development Partners

Strategic Location

Positioned in the heart of Franklinton, Columbus's oldest neighborhood, 550 W. Broad St. offers proximity to cultural and historical sites. The development is adjacent to Engine House No. 6, a Romanesque Revival-style fire station built in 1892, now serving as the Columbus Historical Society's headquarters. Nearby, the Harrison House (circa 1807) and the Sullivant Land Office (circa 1822) further enrich the area's historical significance.

Developer Profile: Grateful Development Partners

Grateful Development Partners, based in New Albany, Ohio, focuses on community-centric real estate projects. Co-founded by Grant Dolven, the firm emphasizes strong partnerships and sustainable development practices. Dolven brings experience from his previous role as Vice President of Acquisition and Development at a Central Ohio development firm, where he managed projects encompassing over 7,200 units across five markets. 

Columbus Multifamily Market Insights

Columbus's multifamily market has experienced fluctuations, with vacancy rates reaching a decade high due to increased construction and rising housing costs. However, recent trends indicate a stabilization, with vacancy rates beginning to decline, suggesting a potential path to market equilibrium. 

Nearby Local Gems

• Columbus Historical Society: Located in Engine House No. 6, the society offers exhibits and programs highlighting the city's rich history.

• Harrison House: This historic residence, dating back to 1807, is associated with General William Henry Harrison and serves as a cultural landmark.

• Sullivant Land Office: Built in 1822, this structure was used by Lucas Sullivant to sell lots in Franklinton, contributing to the area's early development. 

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