Lake Charles, LA — The groundbreaking ceremony for the new construction of the Capstone at the Oaks will provide affordable housing for the senior citizens in Southwest Louisiana. Louisiana Housing Corporation (LHC) celebrated alongside partners for this milestone event.
Capstone at the Oaks will have 66 one-bedroom and 54 two-bedroom units, for a total of 120 units, each including Energy Star appliances. There will be a community space, alongside support services senior citizens will have access to, provided by The Calcasieu Council on Aging. Those who are 62 years old and older with an Area Median Income (AMI) at or below 60% will be eligible tenants.
LHC Board of Directors awarded $17,355,000 of Community Development Block Grant (CDBG) funds from the PRIME-2 NOFA funding round in April of 2023. LHC also awarded $22 million in Multifamily Housing Revenue Bonds and $1.8 million in Low Income Housing Tax Credits (LIHTC).
“Access to affordable housing should not be limited in Louisiana," said LHC Interim-Executive Director Marjorianna Willman. "We saw a significant amount of affordable housing developments destroyed after the recent hurricanes; therefore, we knew that Lake Charles would need help to rebuild in the aftermath. Capstone at the Oaks will serve our senior citizens who desperately need a safe space to call home.”
The project is located within a short distance of a grocery store, hospital/doctor's office, pharmacy, library, banks, schools, shopping and places of worship.
"Capstone at The Oaks is an example of the type of successful collaborations that public-private partnerships can create," said Developer Rob Coats. "The Development Team is incredibly grateful for the Louisiana Housing Corporation, Office of Community Development, the City of Lake Charles, the Calcasieu Council On Aging, Regions Bank, Womack Construction, and many others responsible for the success of this transaction. We look forward to completing this PRIME-2 development and helping to bring home the seniors of the Lake Charles community.”
“The Capstone at the Oaks Apartments will provide sustainable, resilient housing for seniors in Calcasieu Parish,” said Louisiana Office of Community Development Executive Director Pat Forbes. "OCD is excited to team with LHC and our other partners to help bring this much-needed affordable housing to Lake Charles.”
Developers of this new construction project is R.B. Coats, III, Capstone at the Oaks Developer, LLC. Architect is Donofro Architects. The Contractor is Womack Construction. The Management Company will be run by Latter & Blum.
