Lake Charles, LA — The Louisiana Housing Corporation (LHC) celebrated alongside partners the initial stages of development for the 144 multifamily unit complex known as The Reserve at Power Place.
The Reserve at Power Place will offer affordable housing to the citizens of Lake Charles. The project will also cater to a targeted population such as veterans and those that are disabled and elderly. Supportive services such as outreach engagement, advocacy and case management will also be provided. Recreational amenities like an exercise room, a picnic area, paved walking trails, and a swimming pool will be included.
"It is evident more than ever that we must rebuild and reinvest in our cities, and Lake Charles is one of them," said LHC Executive Director Marjorianna Willman. "CST Land Developers and Multifamily Group has become an instrumental partner to us at LHC, they believe in the benefits and the prosperity of what affordable housing can bring to communities, and we are looking forward to the grand opening of The Reserve at Power Place."
LHC Board of Directors awarded $13,783,518 of Community Development Block Grant (CDBG) funds from the PRIME-2 NOFA funding round in April of 2023. LHC also awarded $21 million in Multifamily Housing Revenue Bonds and $1.7 million in Low Income Housing Tax Credits (LIHTC).
"We salute our funding partners, the Louisiana Housing Corporation and Cedar Rapids National Bank, for their support of these two new Lake Charles apartment communities, The Reserve at Power Place and Morningside at Gerstner Place," said Thomas C. Delahaye, President and CEO, CST Multifamily Real Estate Services.
A groundbreaking event for the Morningside at Gernster Place is another multifamily affordable housing development located in Lake Charles and will occur Thursday, May 16, 2024.
Developers of this new construction project is Thomas Delahaye, CST Land Developers, LLC. Architect will be done by The Architectural Studio. Builder and Contractor is Block Builders, LLC. The Management Company will be run by CST Multifamily Group, LLC.
For more information, visit CST Land Developers, LLC
