Deridder and Lake Charles, LA — The Louisiana Housing Corporation (LHC) and the Banyan Foundation, alongside other partners, celebrate a profound housing impact for Southwest Louisiana. Today, LHC and partners highlight two new affordable housing projects, Capstone at Cedar Street and Capstone at the Oaks.
Capstone at Cedar Street is a workforce housing development that will be the first new residential development in DeRidder, LA, in more than 20 years. Today, partners broke ground on this significant development in hopes of reinvesting in the community after the recent impacts of the Beauregard Parish wildfires and Hurricanes Laura and Delta.
"LHC awarded $750,000 through the National Housing Trust Fund and $1,250,000 through the Low Income Housing Tax Credit program for Capstone at Cedar Street," says Executive Director Kevin Delahoussaye. "We are honored to be a part of this development, knowing that it will stabilize families, support the local economy, and revitalize the area."
Capstone at Cedar Street will feature eight buildings and 40 units. “As the first new residential development in this area in over two decades, Capstone at Cedar Street represents a renewed investment in DeRidder following the Beauregard Parish wildfires and Hurricanes Laura and Delta," says The Banyan Foundation, Inc. President Rob Coats. "We are grateful to the Louisiana Housing Corporation, the City of DeRidder, CAHEC, Hope Bank, Troy Bank & Trust, United Bank, and our local partners for their collaboration in delivering quality housing that supports recovery, resilience, and long-term community stability.”
The project's anticipated completion date, for now, is December 2026. Developers for Capstone at Cedar Street include The Banyan Foundation, Inc. & Beechwood Residential, alongside Donofro & Associates as the architect, Magnolia Construction as the contractor, and Acro Management of Louisiana as the Management Company.
In Lake Charles, Capstone at the Oaks is ready to open its doors to senior citizens. LHC and housing partners first broke ground on the project back in December 2023. Capstone has a total of 120 units, a community space, and supportive services for senior citizens 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 able to live in Capstone at the Oaks.
In collaboration with the Office of Community Development, LHC awarded the project over $17M in CDBG funds. The project also received $1,869,537 through the Low Income Housing Tax Credit program. "Aging in place that provides accessibility, affordability, and quality housing should be a possibility for Louisiana's senior citizens," says LHC Executive Director Kevin Delahoussaye. "Our senior citizens deserve a facility which will provide them with the housing and services they need to progress throughout their lives."
“Capstone at the Oaks represents exactly what we strive to achieve through Community Development Block Grant funding. Safe, affordable housing that strengthens communities and supports those who need it most,” says Gina Campo, Executive Director of the Louisiana Office of Community Development. “By contributing $17,355,000 toward this vital project, we are helping to ensure Lake Charles’ senior citizens can age in place with dignity, stability, and have access to the services that enhance their quality of life.”
Through private and public partnerships, The Banyan Foundation has built the Capstone at the Oaks to resilient weather-related standards, allowing residents to feel safe when disaster strikes. “Awarded through LHC’s PRIME 2 program, Capstone at the Oaks was designed to help bring one of Louisiana’s most vulnerable populations homes," says Banyan Foundation, Inc. President Rob Coats. "We appreciate the partnership of the Louisiana Housing Corporation, Regions Bank, the City of Lake Charles, and the Federal Home Loan Bank of Dallas for their AHP support, as well as the Calcasieu Council on Aging for providing critical services that support seniors’ independence and well-being. Together, these partnerships made it possible to deliver a resilient, high-quality senior community that supports both recovery and long-term well-being in Lake Charles.”
The Architect for Capstone at the Oaks is Donofro & Associates, Milton J. Womack is the Contractor, and Acro Management of Louisiana is the Management Company.
