Franklinton’s riverfront just got a lot busier. Casto has opened the second phase of its River & Rich development in the neighborhood, bringing roughly 235 apartments and new ground-floor retail to a once-empty block along West Rich Street. The two-building expansion, known in planning documents as Westrich and styled “WestRich” in some developer materials, fills an open parcel immediately west of the original River & Rich campus. Developers say the addition mixes market-rate and income-targeted units and ties residents to nearby arts venues, breweries, and the Scioto Greenways.
As reported by Columbus Business First, Casto has reached substantial completion on the new phase and started turning units over to residents on Friday. The outlet notes the developer plans to operate the new buildings as a companion community to River & Rich while still marketing them as a separate address.
What the second phase delivers
According to CASTO and industry coverage, the project sits at 509 West Rich Street and totals roughly 234 to 235 units. Those are split between a five-story building with about 120 apartments and a four-story building with about 114. The expansion brings roughly 8,000 square feet of ground-floor commercial space, a mix of structured and surface parking with about 229 spaces, and a private pedestrian walkway that links the two buildings.
Design and amenities
Dimit Architects project materials show a U-shaped layout built around a second-floor amenity deck, with oversized balconies looking onto a resort-style pool. Communal grilling stations and lounge areas are intended to keep residents on-site while feeding into the neighborhood’s creative economy. The River & Rich leasing and neighborhood pages also highlight bike and kayak storage, electric-vehicle charging in the garage, and a roster of nearby food and drink spots that includes Land-Grant Brewing and Glass Axis.
Financing and who it serves
Financing leaned heavily on the Columbus Metropolitan Housing Authority. CMHA served as the principal construction lender and issued roughly $47.2 million in general-revenue bonds for the project, according to a CMHA press release. Agency documents and reporting state that the majority of the new units are targeted to households earning at or below 100 percent of the area median income, with additional apartments around 80 percent of AMI positioned for wage-earners and mixed-income households.
Leasing and timeline
CASTO told partners that Oakwood Management was scheduled to begin pre-leasing in January 2026, and local coverage indicates leasing activity is already underway with move-ins rolling through the summer. Trade reports put the original project cost projection at roughly $70 million, with construction underway since 2024.
What this means for Franklinton
Planners and neighborhood advocates describe Westrich as another step in Franklinton’s evolution from a post-industrial edge into a denser, mixed-use district anchored by arts venues, makerspaces, and breweries. Coverage of nearby developments and city housing efforts points to both the economic jolt that new residents can bring and the added pressure on affordability, reinforcing calls for more permanently affordable housing as projects stack up.
With the second phase now online, Casto and its partners say the new apartments should funnel more customers to Rich Street businesses and widen housing options within an easy walk of downtown. For additional details on the opening and unit layouts, see Columbus Business First.
