What are the Peabody Apartments?

They are a 509-unit public housing complex owned and operated by the Housing Authority of Columbus. The units are in 51 two-story buildings. The apartments opened in 1940 and were the first public housing complex in Columbus.

Who lives in the Peabody Apartments?

There are 945 people living in 381 units. More than 600 of the residents are 17 years old or younger. Among the current families, the median income is $7,556 per year. The median household annual income for metro Columbus is more than $45,000. About 46 percent of heads of households in Peabody are unemployed.

What will happen to current residents?

They will be relocated over the next 18 months. They will have the option of moving into other public housing complexes or taking Section 8 vouchers, which allow residents to get public funds to rent private housing. Housing Authority officials are planning a meeting with the Peabody residents early next week to discuss the relocation process.

What will replace Peabody?

A new 304-unit complex that will be a combination of subsidized housing and units that will bring rent like similar apartments. The plan is to reconnect the Peabody site with adjoining neighborhoods, especially the Waverly Terrace Historic District across 27th Street. In addition to the residential development, more than two acres along Talbotton Road is being rezoned for commercial use.

There will be about 30 homes built in the East Wynnton Park, a south Columbus neighborhood. Those homes will be sold to low-income residents in partnership with the Columbus Housing Initiative.

Can current Peabody residents move back into the new development?

Yes, but not all of them. Of the 304 new units, about 120 will be public housing replacement units. The public housing units will be identical to the apartments rented to non-public housing residents.

What other money is involved?

The entire project is expected to cost nearly $50 million. The lion's share, $20 million, will come from the Hope VI grant. There will be about $15 million from Low-Income Housing Tax Credits. The Housing Authority plans to borrow about $7 million. Columbus Council has committed $5.6 million, which includes planned road improvements. The Bradley-Turner Foundation will donate $1 million. About $200,000 will come from homeowner down payments.

What is a HOPE VI grant?

Federal funds granted through the U.S. Department of Housing and Urban Development, HOPE VI was established to aid distressed public housing organizations in larger cities and modified to help smaller cities with older complexes. The government has spent nearly $5 billion on the HOPE VI, which provided money to tear down 115,000 public housing units and revitalize 85,000 others into mostly larger modern townhomes and detached homes that would create mixed-income communities.

What is the time frame?

It will take about three months to get the HUD grant agreement signed and the process started. The demolition should take about six months after the last resident leaves. Construction could begin in the spring of 2005 and is expected to take three to four years. Estimated completion date is about 2009.