Lakeshore Family Homes

Leasing Office

400 1st Street, Lake Providence, LA 71254
318-559-1993

Property closing

Groundbreaking event

Checks presentation

DETAILS:

Number of Units: 45
Total Development Cost: $10,991,710
Development Type: 9% LIHTC
Project Type: Family
Construction Jobs: 170
Permanent Jobs: 3

SOURCES:

Perm Debt: $1,440,000
Equity: $9,055,815
Developer Equity: $495,895
Total Sources: $10,991,710

PROJECT NARRATIVE:

Lakeshore Family Homes, LP is a 45-unit in fill new construction project located in
East Carroll Parish at 1311 Sparrow Street, Lake Providence, Louisiana. This project is a subsidized redevelopment effort between East Carroll Parish Section 8 Public Housing Agency and BGC Advantage, LLC. This project serves to enhance the efforts of East Carroll Parish and the Town of Lake Providence to preserve affordable housing opportunities with the production of much-needed local housing units. These units will serve as replacement housing for blighted residential structures in the area. The Lakeshore Family Homes development will include community space whereby resident support services, including enhanced resident opportunities for self-sufficiency, will be provided. The educational programs will be geared to help renters become homeowners.

Amenities & Upgrades:

  • Washers, Dryers, Dishwashers
  • Covered Parking
  • Playground
  • Tennis Court
  • Computer Center
  • Walking Trail
  • Exercise Center
  • Picnic area with permanent grills

PROJECT PARTNERS

Developer
BGC Advantage

PHA
East Carroll Parish
Police Jury Section 8

Architect
DNA Workshop

General Contractor
River City Builders, Inc.

Management Company
M&T Property Management

Financial Partners
RBC Community Investments
East Carroll Development Corp.
Cedar Rapids Bank & Trust
Louisiana Housing Corp.

UNIT COUNTS & RENTAL RATES (45 Units)

Lakeshore Family Homes - 45 Units

1 BR – 3 Units – $450
2 BR – 14 Units – $550
3 BR – 20 Units – $640
4 BR – 8 Units – $720