Mike Wolanin | The Republic A view of The Taylor on Second Street in Columbus, Ind., Monday, May 1, 2023.
Developers on a new downtown apartment complex aim to have their first set of occupants move in this fall.
The Taylor, which is under construction at 725 Second St. will begin pre-leasing units later this month, said Deron Kintner, general counsel with Flaherty & Collins Properties. The plan is for the first phase of units to be available in late August, with the project fully complete in early 2024.
Redevelopment Director Heather Pope said at the Columbus Redevelopment Commission’s April 17 meeting that the development is moving forward at a fast pace.
“They’re working to get the rental office open and about 50 of the units ready and available, because summer is their hot season, and they want to start booking it up,” she said. “The next phase would be to have about another 50 units available by November, with the final, full project getting approved in February of 2024.”
The Taylor is a downtown development that will include 200 apartments and an urban grocer. Flaherty & Collins is the developer on this project, and the company’s construction arm is the general contractor.
The luxury apartment complex will be made up of studio, one-bedroom and two-bedroom units. The site lists different floor plans ranging from 550 to 1,550 square feet, though rental prices are not listed.
When asked about the price range of the apartments, Kintner replied, “This has not been determined and will be finalized as we begin pre-leasing.”
He also said that there is “nothing new to report” on the search for a grocer and complementary retail tenant.
Per estimates from Flaherty & Collins, the project will cost $41 million. The city has agreed to invest $11.8 million into the development under the project agreement, according to Bruce Donaldson with the Indianapolis law firm Barnes & Thornburg.
City officials have said in the past that the development’s property tax dollars will reimburse the city for its contribution. The commission also committed to selling property for the development at minimal cost to the developer.
