Homes near OSU are a real draw to homebuyers and a good investment for homeowners
Almost every big city and most mid-sized towns have a college, university, or trade school within their limits including right here in Ohio where we pride ourselves on living near the third largest university campus in the United States, Ohio State University. Alumni and former students of OSU love the area so much, they stay put, building prominent careers in government, business, science, medicine, education, sports, entertainment and real estate, like me.
Colleges and universities tend to be stable institutions, which is why many of them are at least a century old. OSU was founded in 1870! They strengthen the economies of cities and towns and keep nearby real estate in steady demand. While neighborhoods in any city surge and wane in popularity, homes around university campuses retain their value since students and faculty members are always in need of housing.
Whether you want to buy a home for yourself that will retain or appreciate its value, or you want to purchase rental property in a neighborhood with high demand, houses near universities are a good real estate investment.
The above is especially true near OSU where a wide-ranging vision for the future of the Columbus campus was recently unveiled. Called Framework 2.0, the plan builds upon and updates the original Framework plan, which was completed in 2010.
“Planning, especially at a place like this that changes so much and so frequently, is continuous, not episodic,” said Keith Meyers, OSU’s associate vice president for Planning and Real Estate, explaining that several factors led to the need to revisit the 2010 plan, including increases in enrollment and faculty and a renewed focus on research.
Some of the plan’s major takeaways include:
• A new “Mid-West Campus” located just west of Olentangy River Road and south of Woody Hayes Drive – currently the site of playing fields and surface parking lots – would hold a major new research campus.
• A proposal to extend the scope of OSU’s innovation and incubation work – the type currently being done by the Technology Commercialization Office in the Gateway – with new buildings stretching west along 10th Avenue from High Street.
• St John Arena would not be immediately torn down, but the site would be redeveloped in phases, eventually holding new academic buildings and greenspace.
• New proposed east-west connections, including possible new bridges over the Olentangy River and tunnels under the railroad tracks that serve as a barrier to access to West Campus.
• A new, comprehensive vision for West Campus and the Kinnear Road corridor, with the possibility of mixed-use development that would allow students and researchers to live and work in the same place.
If you’re looking to buy a luxury property in Columbus, Ohio, consider looking at the homes near Ohio State University. Call me at 614-416-5473 or contact me via email and I’ll share with you what’s on the market in this burgeoning area!