Alliant Capital has arranged an $11 million low-income housing tax credit ( LIHTC) investment to help build a development that will provide new housing opportunities for people with intellectual or developmental disabilities (I/DD) in Florida’s Hillsborough County.

Baytown Apartments will consist of a two-story residential building that includes 30 low-income housing tax credit apartments, 15 of which will be set aside for persons with intellectual or developmental disabilities.
Baytown Apartments will consist of a two-story residential building that includes 30 low-income housing tax credit apartments, 15 of which will be set aside for persons with intellectual or developmental disabilities.


The deal will be completed as a joint-venture development between InVictus Development and the sponsor, CDS Monarch. Upon completion, Baytown Apartments will consist of a two-story residential building, including 30 LIHTC units, 15 of which will be set aside for persons with I/DD.

“Baytown Apartments is an exciting opportunity for CDS Monarch to further our mission of creating safe and nurturing environments for the individuals we serve to reach their goals and fulfill their dreams. High-quality housing is key to making this happen,” said Andrew Sewnauth, executive director of CDS Monarch, a New York-based nonprofit organization with a 40-year history of delivering supportive services and housing for individuals with I/DD, veterans, families, and seniors.

The development is being built in a well-established community close to shopping districts, a variety of community amenities, and two freeways, allowing travel to employers, service providers, and health care, according to project partners.

The site reflects careful input from service provider McDonald Training Center (MTC) and takes into consideration the specific needs of the developmentally disabled. Additionally, MTC will provide independence support services primarily for Baytown Apartments' special-needs population, such as programs, services, and community partnerships designed to promote independence and full equity in the workplace and in community-based residential settings.

"This development represents not only much-needed affordable housing for the region, as evidenced by the waiting lists on other LIHTC properties in the area, but also a unique opportunity for persons with I/DD to live in a community where they can interact with neurotypical persons" said Paula Rhodes, president and co-founder of InVictus. "There are precious few opportunities for persons with I/DD to live among the general population, and both populations will benefit from this integration."

The LIHTC investment is key to the project’s development. The Alliant Capital team, including Dudley Benoit, senior vice president and chief production officer, and Jennifer Erixon, managing director, led the syndication of the tax credits that benefit the project’s development.

"This monumental transaction will allow individuals to live independently and receive the person-centered support and services they need to live safe and fully integrated lives within their community," Erixon said.

A longtime LIHTC syndicator, Alliant Capital is a Walker & Dunlop company.