Like many places around the country, Columbus, Ohio, faces a shortage of affordable housing, particularly in attractive neighborhoods with access to jobs, transportation links, and essential services.
The North Hamilton Road corridor in Columbus exhibits vibrant commercial activity with mixed-use development. The Ohio Housing Finance Agency has designated the area as a “Very High Opportunity” zone, reflecting strong potential for connectivity, education, employment, housing, and health. Despite these advantages, housing options in the neighborhood are limited.
“There is not a lot of affordable housing in the immediate area,” says Nick Rozier, Senior Real Estate Project Manager at Homeport, a nonprofit housing developer.
The Northam was conceived as part of the solution.
Developed by Homeport and financed in part by an $11.5 million construction loan from NeighborWorks Capital, the Northam will bring 60 new affordable units to the neighborhood. The Northam will offer not only quality housing for low-income residents, but also proximity to shopping, dining, employment, and services in the fast-growing neighborhood. It also has excellent access to major transportation routes and is only a 15-minute commute to downtown Columbus and its major employers.
“The Northam reflects Homeport’s commitment to creating high‑quality, affordable homes in neighborhoods that offer real opportunity,” says Homeport’s president and CEO, Leah Evans. “With access to jobs, transit, and everyday essentials, this building is designed to support stability, dignity, and long‑term success for residents.”
For Homeport, the project is one piece of a larger effort to expand affordable housing across Columbus. The developer is one of the top 15 producers of affordable housing in the NeighborWorks America network, with a large real estate portfolio of 46 properties and 2,900+ units. In addition, an important aspect of Homeport’s approach is its emphasis on community building and homebuyer support to encourage successful homeownership.
NeighborWorks Capital has partnered with Homeport on 13 prior loans. In September 2025, NeighborWorks Capital extended a $2,000,000 pre-development line of credit to Homeport for projects that will create or preserve 424 affordable housing units. While working on that project, Wasserman mentioned that NeighborWorks Capital also offers construction loans.
“It was good timing,” Rozier says. As the Northam moved forward, Homeport encountered delays and added complexity in assembling the full financing package, putting pressure on an already tight timeline. With several partners already involved, the team needed an additional lender that could move quickly and integrate seamlessly into the project.
That’s when NeighborWorks Capital stepped in with an $11.5 million construction loan, helping to close a critical gap and keep the project on track. “We definitely wouldn’t have closed in December without them,” says Rozier. “Getting NeighborWorks Capital in there and organized with the rest of our partners was pretty streamlined,” despite the late addition. “Being able to close on time really helped” in avoiding future delays and potential cost increases, he added.
In addition to moving quickly, NeighborWorks Capital offered flexibility, problem-solving, and favorable terms, making the lending process feel smooth rather than strenuous, Rozier says. For example, it worked with Homeport to navigate unanticipated last-minute complexities in the closing process. “NeighborWorks Capital was incredibly helpful,” Rozier says. “They wanted to find a solution instead of coming back to us and saying, ‘Fix this yourself.’”
For NeighborWorks Capital, the partnership reflects its broader lending approach. “We were able to make the project work for them,” says Lanie Wasserman, Director of Lending and Special Initiatives for the organization. “We had a great partnership and synergy working together.” She points to NeighborWorks Capital’s ability to move quickly and adapt, as well as Rozier’s ability to execute well and manage multiple partners, as key to the successful financial closing for the project.
Construction of the Northam began in January and is scheduled for completion in 2027, with residents able to move in beginning in spring 2027. The four-story, garden-style building will be entirely affordable housing and will offer a mix of one-, two-, and three-bedroom apartments for low-income residents. Of the 60 units, 17 will be set aside at or below 30% of Area Median Income (AMI), 7 will be set aside at or below 50% of AMI, 24 will be set aside at or below 60% of AMI, and 12 will be set aside at or below 70% of AMI. The development will include an exercise room, a community room, a partially covered patio, and a playground.
Developments like the Northam demonstrate that a mission-driven developer, with assistance from committed financing partners including NeighborWorks Capital, can deliver affordable housing in high-demand, high-opportunity areas.
