twin lakes of leesville

Leasing Office

213 Blackburn Ave, Leesville LA 71445
337-238-1912

NAHRO 2020 Award of Merit

Fomerly Campbell Loop

Formerly Wesley Lane

Formerly Logan Lane

Alexandria Housing Authority

DETAILS:

Total Development Cost: $50,945,867
Development Type:
RAD / 4% LIHTC / HOME Funds
Project Type:
Rehabilitation / New Construction
Construction Jobs: 817
Permanent Jobs: 14

SOURCES:

First Mortgage: $22,140,000
Seller Mortgage: $8,116,400
PHA Cash Flow: $500,000
Agency Home Loan: $2,000,000
Tax Credit Equity: $15,071,811

Total Sources: $50,945,867

PROJECT NARRATIVE:

The Alexandria Housing Authority has transitioned from public housing to affordable housing using HUD’s Rental Assistance Demonstration (RAD) program. The housing authority partnered with a CHDO, Mount Pleasant Community Development Corporation, Inc., to sponsor HOME development funds and assist with the transition in addition to a partnership with BGC consulting developers. The project includes three sites located in Alexandria, LA. The two sites have Project-Based Vouchers.

This project transformed properties in aging and declining low-income neighborhoods. This project provided for the development of established scattered sites that will offer enhancement of the surrounding infill homes and single-family streets with homeowners. The rehab of these sites fits within other family structures in the neighborhood.

Amenities & Upgrades:

  • Energy upgrade to HVAC
  • Water conservation methods
  • Bathroom/Kitchen renovations
  • Doors, windows, new lighting
  • Exterior/Interior paint
  • Energy-efficient appliances
  • Updated flooring
  • New washers & dryers

PROJECT PARTNERS

Developer:
BGC Advantage
PHA Alexandria Housing Authority

Architect:
DNA Workshop                       

General Contractor:
B.A.S. Construction                           

Management Company:
Standard Enterprises

Financial Partners:
CitiBank
CREA
Wilmington Trust

UNIT COUNTS & RENTAL RATES (384 Total)

Twin Lakes of Leesville - 384 Units

1 Bedroom  |  Units: 72
Contract Rent: $460-$509

2 Bedroom  |  Units: 72
Contract Rent: $607-$661

3 Bedroom  |  Units: 40
Contract Rent: $748-$808

4 Bedroom  |  Units: 10
Contract Rent: $805