Corey Parchman: The Hidden Costs of Not Building Affordable Housing

Introduction: A Housing Crisis That Needs Real Solutions

Across the country, families are feeling the pinch of rising rents and skyrocketing home prices. In many communities, the dream of homeownership feels out of reach, and quality rental housing is hard to come by. I’ve seen it firsthand — neighborhoods with demand for housing, but not enough supply that’s both affordable and livable.

That’s where the Build-to-Rent (BTR) duplex model comes in. It’s not just a construction strategy; it’s a blueprint for community stability, investor confidence, and family well-being. At CorePar Development, we’ve committed to this model because it meets the needs of both families and investors in a scalable, sustainable way.

1. Affordability Without Sacrifice

One of the biggest misconceptions about affordable housing is that it has to mean “cheap.” Families want affordability, yes, but they also want safety, space, and dignity. Duplexes provide just that.

Unlike an apartment complex, a duplex gives families the feel of a standalone home — their own entry, their own yard, fewer shared walls. And with rents around $950/month per unit in places like Muncie, Indiana, these homes are within reach for working families who can’t yet buy but still deserve quality housing.

2. Efficiency in Construction

From a development standpoint, duplexes are smart. Why?

• Shared walls = reduced costs for materials and energy.

• Standardized floor plans keep design and construction efficient.

• Economies of scale allow us to bring down per-unit costs while keeping quality high.

At CorePar, we’ve honed this process to where we can deliver duplexes for about $175,000 each — a cost point that makes sense for both investors and the families renting them.

3. Strong Returns for Investors

Investors want reliable returns without unnecessary risk. Duplex rentals deliver that. Let’s run the numbers:

• Rent per unit: $950

• Rent per duplex (2 units): $1,900/month

• Annual gross income: $22,800

• Low maintenance costs in the first 1–2 years of new construction

That’s steady cash flow and long-term stability, especially in growing markets where rental demand continues to rise. Unlike speculative flips, this model builds wealth over time while serving communities.

4. Stronger Communities, Stronger Cities

Here’s what excites me most: duplexes aren’t just profitable — they’re transformative.

• For families: stability, safety, dignity.

• For neighborhoods: new construction raises property values and attracts new businesses.

• For cities: tax revenue increases without the strain of large-scale infrastructure.

A scattered-site duplex strategy, like the one we’re using in Muncie, spreads that impact across multiple neighborhoods. Instead of concentrating low-income housing in one area, we integrate new housing into the fabric of the city.

5. My “Why” Behind Duplex Development

I didn’t get into development just to build structures. I got into it to build opportunities. After football, I knew I wanted to create something lasting — something that served families and gave investors real value.

Duplexes checked every box: efficient builds, strong returns, community impact, and family stability. When I walk through a completed unit and see a family move in, it’s more than a project. It’s a piece of the future.

Conclusion: A Blueprint for the Future

The BTR duplex model isn’t just a good idea — it’s the future of affordable housing. With the right design, financing, and long-term vision, we can tackle the housing crisis one duplex at a time.

At CorePar, we’re not just building units. We’re building communities, opportunities, and stability for families and investors alike. And that’s a future I’m proud to be a part of.