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Onyx+East, one of the fastest-growing homebuilders in Indianapolis, announced today that it will invest $235 million in the first phase of its multi-market expansion in Ohio. The expansion includes opening offices in Columbus and Cincinnati, and by year-end 2023, it plans to hire 20 additional team members. The investment will provide new housing in high-growth submarkets in both metro areas.
First, the company will build 29 townhomes in Evanston near DeSales Corner in East Walnut Hills, an area with limited new for-sale housing options. The project, named Everly on Woodburn, will debut in early 2023 as the first for-sale Onyx+East community in Ohio. Everly will introduce floor plan concepts have been imagined with inside and outside living in mind—including luxury kitchens, flexible living options and private rooftop terraces on most homes. Pre-sales for Everly will begin in early 2023.
“This strategic expansion aligns with our focus on redeveloping underused and vacant land in great urban areas—creating new communities for healthier and more vibrant neighborhoods,” said Kelli Lawrence, CEO of Onyx+East. “Everly is our initial community, but we already have a number of other projects under review to further our entry into Ohio and start building a strong local presence.”
Second, Onyx+East has several build-to-rent communities in development in Columbus. Haven, located in the highly sought-after area of Upper Arlington, will provide 25 homes while Greenery, in Lewis Center, will feature 121 homes. Both communities will appeal to residents who seek the convenience of renting, while also desiring a high-quality home near top-rated schools, recreation, services and employment. Construction on both communities is scheduled to begin in early 2023. Leasing will begin later in the year, with resident move-in dates scheduled for 2024. Greenery is the first Ohio project being developed in partnership with Pretium, a joint-venture announced earlier this year to develop, build and operate 2,000 single-family, build-to-rent (BTR) communities in the Midwest and Florida.
To lead the Ohio expansion in the new Columbus office, Onyx+East hired Jake Dietrich as Vice President of Land Acquisitions and Development. Dietrich brings more than 10 years of experience in real estate development. He has led the development of nearly 3,000 for-sale and apartment housing units throughout the Midwest valued at more than $600M. He is a member of the Urban Land Institute and is active at both the local and national levels.
“We’re excited to have Jake on board. His depth of experience, knowledge and management capabilities will provide leadership to our growing Midwest team,” said David Leazenby, SVP of Acquisition and Development at Onyx+East.
In addition to Dietrich, Annie Richardson and Josh Hughes have joined the Development and Acquisitions team in Columbus and Cincinnati respectively. “I am excited to welcome these individuals to our team. They bring a wealth of knowledge and experience in development, coupled with strategic leadership skills. Their extraordinary track record of business growth and development is the perfect combination we need to drive our strategy in Ohio,” Lawrence said.
Onyx+East has been voted Indy’s Best Home Builder for two straight years (2020 and 2021) by the Indianapolis Star and was named to this year’s “Great Employers To Work For In Indiana” list by BridgeTower Media Company.