Preferred Living, a Columbus-based apartment builder, has bought the Kahoots strip club, 4522 Kenny Road, in anticipation of building an apartment complex on the site.
The company paid $5.14 million for six parcels on almost 5.5 acres between Henderson and Old Henderson roads east of Kenny Road.
In addition to Kahoots, the properties include the Honest-1 Auto Care building, a car-wash building and two office buildings.
Preferred Living announced in February that it plans to build a 218-unit apartment complex on the site, becoming the first project in the city's new Community Reinvestment Areas, which grant tax breaks to developers in exchange for the developer building affordable apartments.
Preferred Living said 44 of the 218 apartments would be affordable for those making no more than 100% of the area's median income.
The Columbus Development Commission approved the plan in January.
Preferred Living said it hopes to start work on the project before the end of the year.