Terra’s Multifamily Rundown - December 19th, 2024
Terra Capital
Terra Capital is a Real Estate Private Equity Company that focuses on purchasing value-add small multifamily properties
Amazon Web Services is planning to invest an additional $10 billion in Ohio by 2030, expanding its data center operations and bringing its total investment in the state to over $23 billion. This follows a $7.8 billion commitment announced last year with projects concentrated in the Columbus suburbs, including areas like Dublin, Hilliard, New Albany, and Sunbury. As part of this expansion, Amazon is evaluating other potential sites across Central Ohio as well.
The U.S. government has committed up to $7.5 billion in loans to Stellantis and Samsung SDI to build two EV battery plants in Kokomo, Indiana, creating 2,800 jobs and giving a major boost to the local economy. Just an hour north of Indianapolis, the new facilities will produce battery cells and modules to power about 670,000 electric vehicles each year. The investment marks a big step forward for Indiana as it continues to grow into a key player in advanced manufacturing and electric vehicle production.
Microsoft has expanded its footprint in Pataskala with the recent purchase of 43 acres on Etna Parkway for $11.4 million, adding to the 290 acres it bought nearby on Refugee Road last year for $30.7 million. While the company hasn’t shared specific plans for the new properties yet, the move is part of a larger $1 billion investment in Central Ohio, including data center campuses in New Albany, Heath, and Hebron. These projects, located in the growing tech corridor just east of Columbus, are set to begin in 2025 and are expected to bring both direct and indirect jobs to the region, with room for phased expansions in the future.
The construction industry is facing major challenges with proposed deportation policies and tariffs threatening both its workforce and material supply chain. Undocumented workers make up 13 percent of the industry and often take on the hardest, most physically demanding jobs that few others want. At the same time tariffs on materials like steel lumber and cement from Canada and Mexico could drive costs even higher. With labor already tight and prices rising builders are bracing for delays added expenses and more pressure across the board.