Houma, LA — The Louisiana Housing Corporation (LHC) attends the groundbreaking for 120 apartment housing units alongside the Louisiana Office of Community Development-Disaster Recovery and Volunteers of America (VOA)-MSW Development LLC.
The Oaks by the Bayou is a newly constructed apartment-style community built near Little Bayou Black, located in the heart of Houma, LA. Developers plan to build the five buildings to a FORTIFIED standard. According to the Insurance Institute for Business & Home Safety (IBHS), the FORTIFIED GOLD standard will include the strengthening of roofing requirements, prevention of water intrusion, and elevation of thresholds to minimize water damage during heavy rainfall, high winds, and natural disasters.
Amenities in the community will include a clubhouse, fitness center, playground, and parcel room. Families and individuals meeting the Area Median Income (AMI) requirements will have the option to choose between one, two, and three-bedroom apartment styles.
LHC awarded the project $1,361,765 in Low Income Housing Tax Credits (LIHTC) and $21M in Multifamily Housing Revenue Bonds. Through a partnership with the Office of Community Development Disaster Recovery, LHC also awarded over $18M in Community Development Block Grant (CDBG) funds through the PRIME 3 round.
"The devastation that Hurricane Ida brought to Louisiana greatly impacted Terrebonne Parish," explains LHC Executive Director Kevin Delahoussaye. "The aftermath of this storm left us with only one option to rebuild to a standard of resiliency. We know more storms will come our way, but it is the new and modified construction techniques that enhance safety measures for families and individuals."
“The Oaks by the Bayou demonstrates how our recovery investments are helping communities rebuild stronger and smarter,” said Gina Campo, Executive Director of the Louisiana Office of Community Development. “Through partnerships like this one, we’re not just replacing what was lost after Hurricane Ida; we’re creating safer, more resilient housing that will better protect families and support long-term stability for Terrebonne Parish.”
Renaissance Neighborhood Development Corporation Executive Director Vanessa Levine further explains, "The Oaks by the Bayou represents more than just new construction; it’s a commitment to rebuilding stronger, fairer, and smarter. Partnering with Louisiana Housing Corporation, Terrebonne Parish Consolidated Government, Houma-Terrebonne Public Trust Financing Authority, and investor and financial partners has made it possible to bring this transformative housing development to life in Terrebonne Parish. The need is urgent, and the opportunity for impact is immense. This development provides not only resilient homes for working families and displaced residents but also a foundation for long-term community growth. We are proud to be part of a solution that turns recovery resources into lasting progress."
Renaissance Neighborhood Development Corporation will reside as the management company for The Oaks by the Bayou complex. Other contributing partners include Coleman Partners Architects and contractor Milton J. Womack, Inc. Additional essential partners include the Terrebonne Parish Consolidated Government, the Houma-Terrebonne Public Trust Financing Authority, the U.S. Department of Housing and Urban Development, Lument Real Estate Capital Holdings, Enterprise Housing Credit Investments, Hancock Whitney Bank, Home Bank, Capital One, Volunteers of America, Matthews Southwest, and Longwell Riess.
To learn more about the available units and property, please visit The Oaks by the Bayou Website.
