Trace Quarter Named Columbus Multifamily Development of the Year

News | 2026 CoStar Impact Awards

Trace Quarter Earns 2026 CoStar Impact Award

Trace Quarter has been named Columbus Multifamily Development of the Year in the 2026 CoStar Impact Awards, recognizing the transformation of part of the former Mount Carmel West campus into new housing in Franklinton.

The recognition matters because Trace Quarter is more than a new apartment community. It reactivates a legacy site in one of Columbus’s most closely watched neighborhoods, connecting new homes with the art spaces, local restaurants, creative venues, and downtown access that shape daily life in Franklinton.

A Redevelopment Story With Local Weight

CoStar’s coverage of the award points to the heart of the story: Trace Quarter brought new residential life to a former hospital site that had become an underused gap in the neighborhood fabric. For Franklinton, where growth, arts investment, and redevelopment continue to reshape the district, that kind of site work has consequences beyond the building edge.

The CoStar Impact Awards are designed to recognize commercial real estate projects and transactions that influence neighborhoods and submarkets. Winners are selected by local panels of real estate professionals, which gives this recognition a different kind of weight than a promotional list or paid placement.

“[It] completely transforms a blighted former hospital area and provides housing in a needy area.”

2026 CoStar Impact Awards judging, as reported by CoStar

Why Franklinton Is Central to the Award

Trace Quarter’s setting is central to why the project was recognized. The community sits in Franklinton, a district known for galleries, murals, studios, live music, restaurants, and proximity to downtown Columbus. The neighborhood context is not background detail. It is part of the experience the community was built to support.

On the Trace Quarter community page, the neighborhood is described through the places residents can walk to, gather in, and explore. That matters here because the award is not only about delivering apartments. It is about how a difficult site was brought back into the everyday rhythm of the neighborhood around it.

A Visible Example of Thrive’s Redevelopment Approach

Trace Quarter reflects the kind of long-term work that has shaped Thrive Companies from its beginning in Columbus. The company’s roots are in finding overlooked or underused land, giving it new purpose, and building communities that serve both residents and the broader neighborhood.

That approach shows up clearly at Trace Quarter. The project connects housing, shared spaces, outdoor areas, and walkable neighborhood access without turning the story into a simple leasing pitch. It is a community impact story first, with the residential experience supporting a larger redevelopment outcome.

For readers who want floor plans, current availability, amenities, or tour details, the Trace Quarter page remains the best next step. This article explains why the recognition matters and what the project says about Franklinton’s next chapter.

Trace Quarter in View

From shared indoor spaces to open-air courtyards, Trace Quarter was designed to feel connected, usable, and rooted in the neighborhood around it.

What the Recognition Says About the Larger Work

Awards are strongest when they point to work that can be seen and felt. At Trace Quarter, the recognition reinforces a clear outcome: an underused former hospital site has been brought back into productive neighborhood life with new housing, shared spaces, and a stronger connection to Franklinton’s existing creative energy.

For Thrive Companies, the award also reflects a broader standard for development in Columbus. Projects should add value beyond their own walls. They should respect the surrounding place, strengthen daily life for residents and neighbors, and leave the district better positioned for what comes next.