MADISON, GA. — Woda Cooper Cos. and Parallel Housing opened Carmichael Commons in Madison on June 18. The $18.2 million, 60-unit townhome community is comprised of eight one-bedroom, 32 two-bedroom and 20 three-bedroom townhomes. Units are reserved for residents with household incomes up to 50 and 60 percent of area median income (AMI). Six units are offered at market rates without income restrictions.
The developers also are underway constructing Prior Farms, an $18.5 million, 40-unit build-to-rent community on adjoining land. The two-phase project will include a new park developed by the City of Madison on a 4-acre parcel donated by the developers next to the Carmichael Commons site.
Prior Farms includes four one-bedroom homes, 20 two-bedroom homes and 16 three-bedroom homes. Thirty-six of the single-family homes are reserved for renters with household incomes up to 60 percent of AMI. Four homes will be offered at market rates. A timeline for Phase II was not disclosed.
The architect for Carmichael Commons and Prior Farms is Pimsler Hoss Architects, with civil engineering by Crescent View Engineering. Woda Construction is the general contractor. Leasing and property management is performed by Woda Management & Real Estate.
Primary financing for Carmichael Commons and Prior Farms was supported through federal and state Low-Income Housing Tax Credits allocated by the Georgia Department of Community Affairs.