MARYSVILLE, Ohio — Marysville residents have had community meetings in recent weeks to express their concerns about a new plan for nearly 300 homes to be rented out on a property on the south side of the city. They said it could put a strain on an already tight and competitive market.
The proposal to re-zone a roughly 100-acre property off Weaver Road for a planned unit development would give way for a developer’s plan to build single-family homes to be rented out.
"We want to welcome more people here in Marysville. We love the feel of it. Just let's have some responsible growth and do things and be thoughtful about it,” said Marysville resident Barb Phillips.
Phillips said she is concerned the rental price would be unaffordable and she has concerns about the corporation working with the developer.
Manager Terry Emery said there is a need for rental homes in Marysville. He said rent would run $2,500 or more a month.
"There are concerns and some of the concerns are valid,” Emery said. “I think there needs to be a strong consideration in increasing the diversity of the type of homes that are available to people in the Marysville market. The one example is some of our corporations, whether it's Honda or Scott's, or others, may have individuals that are interested in coming into work for two to three year periods of time."
According to Emery, American Homes 4 Rent would work with the developer on this plan.
Republican State Senator Bill Blessing of Ohio Senate District 8, said companies are scooping up thousands of homes statewide and it's driving up home prices while creating more competition for homebuyers.
He proposed legislation this spring to crack down by taxing $1,500 per month, per property for those who own more than 50 properties in a given county.
"What happens is, is that rather than, you know, pass that on, it destroys the business model, and they are forced to sell, which is exactly what we want them to be to do because they weren't here 20 years ago. That increase in supply that's rental only now, that would then be freed up, will hopefully reduce home prices and bring a lot of homes online,” he said.
American Homes 4 Rent did not respond to our request for an interview.
The Marysville Planning Commission unanimously approved this plan earlier this month. It now goes to Marysville City Council. There will be a first reading on Monday.