A Texas company plans to formally break ground Friday on a Lane Avenue apartment complex next to Ohio State University that will house about 900 students and include a yoga studio, rooftop pool and ground-floor coffee shop.
LV Collective, of Austin, Texas, started work on the project weeks ago by demolishing the12-story Harrison House apartment building at 222 W. Lane Ave. LV Collective bought the site, including two adjacent smaller buildings, in April for $24 million.
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LV plans to replace Harrison House with a seven-story building called Rambler. The top five floors will house 379 apartments with 885 bedrooms. The apartments will be targeted at students, who will rent by the bedroom, with a limit of one student per bedroom. Rents have not been set.
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The complex will include a coffee shop, gym with an indoor-outdoor fitness area, a third-story pool with a “jumbotron” screen, lounge and view of Ohio Stadium, and a top-floor yoga and meditation studio. A restaurant with a patio will occupy part of the first floor.
“By delivering a high-quality, thoughtfully-designed development with top-tier amenities and sweeping views of the campus, we are providing the perfect location to embrace the academic rigor needed at Ohio State with the balance of lifestyle and experiential pursuits,” said Chris Johnson, executive vice president of development at LV Collective.
LV Collective expects the development to be ready for fall 2025 occupancy.
The project continues the transformation of student housing along Lane Avenue and High Street, as older apartments are replaced with newer complexes with far more amenities. Just to the west on Lane Avenue, the Point on Lane opened in 2018, and to the east, the Doric on Lane opened in 2016, and several others are on the drawing board.
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LV Collective, previously known as Lincoln Ventures, took over the project from the Columbus company Arcadia, which proposed a similar development in 2020. This is the first Ohio project for LV Collective, which has developed, or is developing, about a dozen student housing projects, most of them in its hometown of Austin.
“LV Collective chose to develop in Columbus given its strong jobs and population profile (and) a world-class research institution,” said Francisco Rios, chief investment officer for LV Collective. “We love this market and are open to exploring further development opportunities in Columbus.”
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The Austin investment firm Virtus Real Estate Capital is a partner in the project. The development was designed by the Denver architecture firm OZ. The Columbus contractor Elford is building the development while the Columbus firm Realm Collaborative did the landscape design work.
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