Co-developers Woda Cooper Companies, Inc., Parallel Housing, Inc., and the City of Warner Robins Housing Authority (WRHA) recently hosted a Grand Opening for The Terraces at Oscar Thomie, a new 90-unit affordable housing community in Warner Robins, GA. Houston County, Georgia, is experiencing an affordable housing crisis driven by rapid population growth. Local renters report significant spikes in living costs, with one-bedroom apartments reaching $1,600 per month (Source).
The $23.8 million investment, backed by a combination of public and private funding, has revitalized a long vacant site at 119 Vicki Lynn Drive that was occupied by Oscar Thomie Homes, a public housing community operated by WRHA before the property was demolished in 2015. WHRA provided a long-term lease to the new property for the land.
The Terraces at Oscar Thomie apartments include 24 one-bedroom units, 42 two-bedroom units and 24 three-bedroom units. The mixed-income apartments feature 81 units available for renters with household incomes up to 50% or 60% of the area median income. Rents range from $810 to $1,199. Nine units are being rented without income restrictions. The Terraces at Oscar Thomie also provides 1,674 square feet of commercial space occupied by WRHA’s administrative staff.
The Community features a multipurpose room, a fitness center, a playground, and a covered pavilion with tables and BBQ grills. Energy efficiency is a key component for The Terraces at Oscar Thomie as the property is LEED certified to ensure low utility costs for renters.
“The Authority is thrilled that we have partnered with Woda Cooper Companies and Parallel Housing to provide affordable housing on the dedicated site of Oscar Thomie,” said Africa C. Porter, Executive Director, WRHA. “The Terraces at Oscar Thomie will meet the needs of our community by providing quality, affordable homes to our growing community.”
Synovus Bank, which merged with Pinnacle Financial Partners, served as a bridge lender and tax credit investor. “Affordable housing is one of the most pressing needs in communities across the country, including Warner Robins,” said Brian Coffee, Senior Director of Community Investment Capital for Pinnacle. “The Terraces at Oscar Thomie will help create high-quality housing options for people and families who want to live and work here. Pinnacle is glad to play a role alongside partners who are working to meet that need in a meaningful way.”
Advantage Capital invested in the state credits to provide additional equity financing. “Advantage Capital is pleased to partner with Woda Cooper Companies, Parallel Housing, and the Warner Robins Housing Authority to bring this important affordable housing development to life,” said Tori Cook, Senior Vice President at Advantage Capital. “We’re dedicated to investing in high-quality, impactful developments that address critical community needs.”
Denis Blackburne, Senior Vice President – Development, Woda Cooper Companies, Inc. added, “We appreciate the tax credits allocations, debt financing, and support we received from the Georgia Department of Community Development. Without DCA’s support and resources this project would never have happened.”
Designed by PCI Design Group with civil engineering by Bryant Engineering, The Terraces at Oscar Thomie were constructed by Woda Construction, Inc. and are managed by Woda Cooper’s management division.For more information about leasing opportunities, call 848-722-9139 or visit wodagroup.com.
