Council approves actions for former Faith Victory Church

Developers working on renovating the former Faith Victory Church was approved for a tax abatement after the Columbus City Council gave final approval to label the site an economic development target area.

Rick Sprague, the owner of the property, says that he plans to offer market-rate apartments at the site in the 1700 block of Home Avenue. A total of 21 units will be available at the completion of the restoration work. Rents are expected to be in the $800 to $1,000 per month range. Sprague says that hundreds of thousands of dollars in rehabilitation and improvements in the nearly century-old building are needed before any potential renters could move in. That work includes roof replacement and foundation stabilization.

The council unanimously approved the 10-year, $1.8 million dollar tax abatement. Robin Hilber, with the city’s Office of Community Development, says that even with the abatement, Columbus will receive approximately $232,000 more over the next decade than what it would get if the building remained vacant.

Sprague says that work will get underway soon with the goal of the building being ready within a year.