Louisiana Housing Corp. (LHC) has announced that it has awarded $12.1 million in funding for the construction and rehabilitation of 952 units of affordable housing. Of the total units, 402 will be new construction while the remainder will be rehabs. 

The funding includes $9.7 million in low-income housing tax credits (LIHTCs) and $2.4 million in tax credit assistance. According to the LHC, the investment will have an estimated statewide economic impact of $161.5 million and will create 1,162 jobs in the first year.

“The 2014 Housing Needs Assessment revealed that 53% of renters in Louisiana are paying more than 30% of their income on housing. To tackle this rent stress crisis, we were able to expand affordable housing opportunities in six out of the eight major regions of the state with the tax credits awarded,” said LHC interim executive director Michelle Thomas. “There were 26 applications for funding, and there was tremendous diversity in the projects we were able to fund. In addition, more than half of the projects approved will serve rural parts of Louisiana with 24% benefiting the previously underserved Delta region.”

Approximately 55% of the developments will be in rural parts of the state, and 45% will be in urban areas. They will serve families with children, the elderly, veterans, the formerly homeless, and disabled individuals.

The 17 developments receiving LIHTC awards include:

1508 Orleans, Orleans Parish, New Orleans
Developer: HRI Properties
HRI Properties will do a historic rehab of 1508 Orleans to provide 36 units of affordable housing for elderly and disabled households. It received a tax credit award of $701,233 as well as $1.2 million in Tax Credit Assistance Program (TCAP) funding. 

1601 Orleans, Orleans Parish, New Orleans
Developer: HRI Properties
HRI Properties will do a historic rehab of 1601 Orleans to provide 34 units of affordable housing for elderly and disabled households. It received a tax credit award of $687,025 as well as $1.2 million in TCAP  funding. 

Bastion Phase II, Orleans Parish, New Orleans
Developer: Bastion Community of Resilience
Bastion Phase II will include 40 newly constructed units for veterans and disabled households. It received a tax credit award of $263,425. 

Briarwood Estates at Bastrop, Morehouse Parish, Bastrop
Developer: NELA Properties
Briarwood Estate at Bastrop will provide 41 newly constructed units of affordable housing for families. It received a tax credit award of $664,605. 

Elysian II, East Baton Rouge Parish, Baton Rouge
Developer: Gulf Coast Housing Partnership
The Elysian II will provide 100 newly constructed units of affordable housing for families and disabled households. It received a tax credit award of $553,236. 

Hopeville Apartments, Natchitoches Parish, Natchitoches
Developer: Hopeville Partners
Hopeville Apartments will include the rehab of 40 affordable housing units for veterans and formerly homeless households. It received a tax credit award of $421,000. 

HY Bell Apartments, Winn Parish, Winnfield
Developer: Bell GP
HY Bell Apartments will provide 60 units of affordable housing for families through new construction and rehab efforts. It received a tax credit award of $619,062. 

Lee Crossing, Acadia Parish, Rayne
Developers: ALPIC and Standard Enterprises
Lee Crossing will provide 46 newly constructed units of affordable housing for elderly and disabled households. It received a tax credit award of $744,000.

Meadows at Arcadia, Bienville Parish, Arcadia
Developer: NELA Properties
Meadows at Arcadia will provide 78 units of affordable housing for families. The development includes new construction and rehabilitation work. It received a tax credit award of $749,435. 

Morehouse Gardens II, Morehouse Parish, Bastrop
Developer: Hughes Spellings
Morehouse Gardens II will include the rehab of 40 units of affordable housing for families. It received a tax credit award of $334,604. 

Pecan Ridge Phase II, Rapides Parish, Pineville
Developers: Wardville Partners and Flight 34
Pecan Ridge Phase II will include 48 newly constructed units for families. It received a tax credit award of $725,521. 

Port Barre Manor Apartments, St. Landry Parish, Port Barre
Developers: Port Barre Housingand CMS LA Housing
Port Barre Manor Apartments will include 31 rehabbed units for elderly and disabled households.  It received a tax credit award of $223,577. 

Richland Apartments, Richland Parish, Rayville
Developer: Standard Enterprises
Richland Apartments will provide 60 rehabbed units for families. It received a tax credit award of $550,000. 

Richland Community Centre II, Richland Parish, Rayville
Developers: ALPIC and Affordable Housing Partners
Richland Community Centre II will provide 35 rehabbed units for disabled households. It received a tax credit award of $294,308. 

Riverdale Apartments, Pointe Coupee Parish, New Roads
Developers: False River Partners and Flight 35
Riverdale Apartments will include 48 affordable housing units for families through new construction and preservation efforts. It received a tax credit award of $722,972. 

Tangi Grove, Tangipahoa Parish, Amite City
Developers: ALPIC and Standard Enterprises
Tangi Grove will include 45 newly constructed units for elderly and disabled households. It received a tax credit award of $740,000. 

Wellington Square Senior Apartments, Caddo Parish, Shreveport
Developer: GLTC Partners
Wellington Square Senior Apartments will provide 170 units of affordable housing for the elderly and the disabled through a rehab. It received a tax credit award of $750,000.