Mixed-income community recognized as one of the top affordable housing developments nationwide by the Affordable Housing Tax Credit Coalition

Columbia Residential and the Athens Housing Authority announced today that Columbia Brookside, a mixed-income community in Athens, Georgia, was recognized as one of the top affordable housing communities in the nation at the 24th Annual Charles L. Edson Tax Credit Excellence Awards (“Edson Awards”). Columbia Brookside was selected as the winner of this year’s Public Housing category. The award was presented on June 13 by Senator Johnny Issakson.

“We convene each year to shine a spotlight on excellence in the affordable housing industry,” said Michael Gaber, president of the Affordable Housing Tax Credit Coalition. “The Edson Awards honor the developments that take every opportunity to make innovative use of the Low-Income Housing Tax Credit as a tool for public and private collaboration, investment and community revitalization.”

The Edson Awards take place each year on Capitol Hill, bringing together members of Congress, businesses and nonprofit leaders to honor Low-Income Housing Tax Credit (Housing Credit) developments that are strengthening communities, improving health and boosting the economy in urban, suburban and rural areas nationwide.

“Several years ago, the Athens Housing Authority had a vision of providing our community with radically different affordable housing. We carefully selected one of the best tax credit developers – Columbia Residential – as our business partner. The result was a complete transformation of an aging public housing neighborhood into a national award winning mixed-income community. Columbia Brookside is now the standard the Athens community points to when discussing redeveloping multifamily housing,” said Rick Parker, executive director of the Athens Housing Authority.

As a new, master-planned, mixed-income community at the site of the former Jack R. Wells community, Columbia Brookside includes residences dedicated to seniors ages 55 and above along with classic apartment and townhome residences for families. Both communities are pursuing LEED® certification, and the overall development will be one of Georgia’s first LEED®-ND communities. Incorporating these certified design and construction practices allows residents to enjoy enhanced walkability, increased energy efficiency and improved indoor air quality.

“Columbia Brookside is the result of years of hard work, in partnership with the Athens Housing Authority, for the benefit of the Athens community,” said Noel Khalil, chairman and CEO of Columbia Residential. “This redevelopment transformed the existing site and provided high-quality, sustainable mixed-income housing that will serve this neighborhood for years to come. We’re proud to see this wonderful community receive national recognition.”

The Housing Credit was created as part of the Tax Reform Act of 1986, and today is widely regarded as the nation’s most successful housing production tool. The Housing Credit has financed more than three million affordable apartments through public-private partnerships, and supports 96,000 jobs each year, mostly in the small-business sector. It has earned strong bipartisan support, and was recently preserved in the Tax Cuts and Jobs Act of 2017, and expanded and strengthened in the omnibus spending bill for fiscal year 2018. The broadly-supported Affordable Housing Credit Improvement Act, currently up for debate, would further expand and strengthen the program.

“The Edson Awards honor developments that harness the Housing Credit to strengthen America’s communities and provide homes that transform the lives of low-income families, veterans, seniors and people with special needs,” said Emily Cadik, executive director of the Affordable Housing Tax Credit Coalition. “The winners honored today exemplify why the Housing Credit is smart policy, and why Congress should expand and strengthen this proven tool.”

About Columbia Residential

Founded in 1991 by Noel Khalil, Columbia Residential is a leading Atlanta-based developer and manager of affordable and mixed-income housing. The firm operates more than 7,000 affordable and mixed-income housing units in Georgia, Texas, and Louisiana. Columbia is known for award winning design, construction and developments. Columbia brings experience to the partnership having developed and operates more than 1,700 units of high quality, affordable senior independent living housing in Georgia and Louisiana. For more information, please visit www.ColumbiaRes.com.

About Athens Housing Authority

Established in 1938, the Athens Housing Authority has been at the forefront of developing affordable housing programs for the area. In addition to the Columbia Brookside partnership, the Athens Housing Authority has created affordable homeownership opportunities for moderate-income, first-time homebuyers in Athens. To assist multi-family developers with renovating and improving multi-family properties, the Athens Housing Authority has issued tax-exempt housing revenue bonds for affordable housing. Working with the University of Georgia Real Estate Foundation, the agency issued tax-exempt housing revenue bonds for the construction of five residence life halls and a dining hall and parking deck to enhance campus life.

About the Affordable Housing Tax Credit Coalition

Founded in 1988, AHTCC is a trade organization of housing professionals who advocate for affordable rental housing financed using the Low-Income Housing Tax Credit (Housing Credit). Our for-profit and non-profit members—including syndicators, investors, lenders, developers, legal and accounting professionals and state allocating agencies—seek to preserve, expand and improve the Housing Credit and complementary programs through legislative outreach and education.

About the Charles L. Edson Tax Credit Excellence Awards

Given annually by the Affordable Housing Tax Credit Coalition, the Edson Awards are named for Charles L. Edson, an affordable housing luminary who was Transition Director for the U.S. Department of Housing and Urban Development on President Carter’s Transition Staff. Mr. Edson served in the Office of the General Counsel at HUD and served as Co-Editor-in-Chief of Housing and Development Reporter for nearly 40 years. He is a founding partner of the law firm Lane and Edson, and was later a partner of Nixon Peabody LLP.