01/08/2010 – Oaks at Camden a 2009 Excellence Award Winner
Posted on 14. Jan, 2010 by admin in News
Distinguished Honor Bestowed by the Chattanooga-Hamilton County Regional Planning Agency
January 8, 2010 – The Chattanooga Housing Authority’s Oaks at Camden development has been named a 2009 Excellence Award winner by the Chattanooga-Hamilton County Regional Planning Agency for being an “outstanding example of urban infill multi-housing.”
The Oaks at Camden is an $8.9 million, 57-unit premier housing complex featuring town home-style units with spacious floor plans. The units include two or three bedrooms, bathtubs in ceramic surrounds, wood cabinetry, central heating and air conditioning, dishwashers, carpeting and an outdoor play area for children. Some of the units are two stories with balconies overlooking the 3.6-acre property, which is located at the intersection of Dodson Avenue and Camden Street in East Chattanooga.
Regional Planning Agency officials selected a total of 15 Excellence Award winners based on six criteria, including quality of design, construction and visual appeal; respect for the environment; and concern for traffic flow and utility needs.
“The Oaks at Camden is one of CHA’s shining stars in terms of meeting the Planning Agency’s award criteria, including architectural design. We’re truly elated to be part of such an elite group chosen for this honor,” said Betsy McCright, CHA’s executive director. “It speaks volumes to our commitment of providing safe, decent and affordable housing to our residents.”
To finance the Oaks at Camden, CHA officials applied for tax credits in March 2005 and later partnered with Pennrose Properties, LLC. The mixed financial deal included $5.57 million in Low Income Housing Tax Credit equity provided by CharterMac Capital, LLC, as well as $3.37 million in funds from the U.S. Department of Housing and Urban Development through CHA.
“We were innovative in our approach to financing the Oaks at Camden, and that innovation has not only yielded big dividends for our residents, but for CHA as a whole in being recognized by the Planning Agency,” said Naveed Minhas, CHA’s vice president of development. “Our management staff, development team, our partners and the community are to be commended for their efforts in producing such a first-class project.”
All units at the Oaks at Camden are available to residents under the federal tax credit program, which is administered statewide by the Tennessee Housing Development Agency. The tax credit program is designed for households with incomes at 60 percent or less of the area median income. The heads of household for families residing at the Oaks at Camden are either working, elderly or disabled.
The two-story complex was built on the site of the former Rev. H.J. Johnson Apartments, which was managed by CHA. The architect for the project was Kitchen & Associates of Philadelphia while Barge, Waggoner, Sumner & Cannon Inc. of Chattanooga was the engineer. The Oaks at Camden opened in November 2007 and is managed by Pennrose Management Co.
Regional Planning Agency officials will formally recognize CHA and the other 2009 Excellence Award winners at their next meeting on Jan. 11.