Madison, TN, sits approximately 8 miles north of Nashville and is one of about 26 suburban neighborhoods that surround the city. While there is a direct connection between the town and Nashville, Madison offers a minor downtown area as well as a rich history and a thriving education system. The town originated with the opening of Madison Station post office in 1857, and has only grown since. Madison is a prime location in Tennessee, offering both private and public schools, several public parks, and easy access to transportation via the rapid transit Metro bus lines. Although this quaint neighborhood offers many amenities, the median household income is well below the national average and residents are in need of additional affordable housing options.
New Construction: 47 Units
Private Equity Investment: $4,518,874
Local Jobs Supported: 42
Local Government Revenue: $798,812
Forest Bend Townhomes is a new construction development in Madison, TN, that is composed of 47 units between nine buildings for families earning up to 60% of the Area Median Income (AMI). Ten of the units are restricted for families earning up to 50% AMI. All of the units are three-bedroom with two bathrooms. Eight of the buildings will feature two- story townhomes, while one building will consist of single- story, handicap accessible units. A majority of the units are over 1,300 square-feet, and all units feature amenities such as a patio with exterior storage, a washer and dryer set, and all kitchen appliances. Forest Bend Townhomes is currently at 82% occupancy and is expected to be fully occupied by the end of November.
Site amenities offered to residents of Forest Bend Townhomes will include a new playground for children, a community building, and a picnic area complete with grills. The development is directly across the street from a Metro bus stop, allowing for convenient transportation to businesses, shops, and schools. Forest Bend Townhomes will offer a safe, affordable community to families in the area for years to come.