Finance & Business World

Madison19, a condominium development at 670 Madison Ave., has been completed.

Condo developer Phil Woodard started the $2.3 million project in late 2006.

It has 18 one-story units and one two-story unit, which will sell for $160,000-$170,000.

One of the ground floor units can be converted into office space as well.

Woodard has developed mostly Downtown condo projects such as St. Marten’s Place, GE 5 and 2 West.

However, this new project is located near the UT-Memphis campus and medical district, along the Madison trolley line.

The project is targeting first-time homebuyers, students, medical residents and professors.

Martin Realty Group will be marketing the project.

The residential market has changed since Woodard started the project, but he’s confident.

“It’s definitely gotten softer, but I think my price range is good, being under $200,000,” Woodard said payday loans.

Archer Custom Builders was the general contractor and Archimania designed it.

Archimania’s rendering of the project won a Construction Specifications Institute award.

The project is not LEED-certified, but it has several environmentally friendly features including recycled materials, low-water landscaping, programmable thermostats, florescent light bulbs and cellulose insulation made from recycled materials.

There are bike racks, a green space, 22 surface parking spaces and four garage spaces behind the building, which is gated.

There will be an open house at Madison19 from 5-7 p.m. on July 10.

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