Parallel Housing Inc. and Woda Cooper Companies Inc. held the grand opening for Carmichael Commons of Madison on June 18, accompanied by a ribbon-cutting ceremony.
The development, which cost $18.2 million, is located at 1202 Currybury Dr. and features 60 townhomes.
The event also celebrated the construction of Prior Farms, Carmichael Commons’ second phase. The $18.5 million project will include 40 single-family rental units adjacent to the Carmichael Commons complex.
Several individuals spoke at the ceremony, including residents of Carmichael Commons, representatives from the City of Madison, and representatives from Parallel Housing and Woda Cooper Companies.
“None of this could be done without the City of Madison, our funding partners, the community, and most importantly, the residents themselves,” said Denis Blackburne, senior vice president at Woda Cooper Companies.
Blackburne explained that 54 of the 60 townhomes in Carmichael Commons are listed as “income-restrictive housing.” The specific units are reserved for individuals making up to 50-60% of the area’s median income.
“There’s a breakdown of eight one-bedroom units, 32 two-bedroom units, and 20 three-bedroom units,” Blackburne said. “So, you can see this type of development has quite a bit of two- and three-bedroom units, so we expect to see families and children growing up in this community.”
The Prior Farms development will have four one-bedroom, 20 two-bedroom, and 16 three-bedroom houses. Thirty-six homes are reserved for households with incomes up to 60% of the area’s median income, and four units will not include the income restrictions.
Madison Mayor Fred Perriman also spoke at the event on Wednesday, sharing his appreciation for the new additions and expressing his belief that the city has come a long way.
“It’s always my pleasure to gather at a celebration like this to look back to where we have come and see where we are today,” Perriman said. “[The city] always wants to help make a difference, not only in the lives of the adults but in the lives of our children who will be the next generation. And if we don’t help make that happen, their lives will not be what they want them to be.”
During his speech, Perriman emphasized the importance of providing quality homes for children to support their academic success in the classroom.
“It’s a fact that when a child lives in a comfortable home, he can survive in our school system,” Perriman said. “But if he lives in a home that’s not provided with heat or adequate water to take a bath with, or just a run-down home, it affects and will affect his everyday life.”
Shatara Pell, an affordable housing business development associate at U.S. Bank Corp, spoke at the ceremony about some of the financial benefits the projects have brought to the city.
“I’m super excited to be here celebrating the grand opening of Carmichael Commons and even more excited for the Madison community,” Pell said. “Between these two projects, we’ve invested over $16.5 million in federal low-income housing tax credits and over $15.3 million in state low-income housing tax credits.”
According to Pell, both projects have also raised $30 million in loans “to help finance construction.” She said the apartments will give the residents “the opportunity to achieve financial stability in a safe and affordable environment.”
“These two projects are just one example of our work and focus on addressing the need for affordable housing in Georgia,” Pell said. “We value our ongoing collaboration with Woda Cooper Companies and Parallel Housing based on the underlying belief that every individual deserves a place to call home. With that said, congratulations to everyone for making this beautiful development a reality, and welcome home to the residents of Carmichael Commons.”