Lafayette, LA—The Louisiana Housing Corporation (LHC) celebrates the groundbreaking of the Ridge and Loop Commons Development in Lafayette, LA which includes 192 affordable housing units.
Ridge and Loop Commons will be a newly constructed multifamily housing development for those at 80% of the Area Median Income (AMI) or less. The complex will also include community spaces, a dog park, and more. The Ridge and Loop Commons will be considered FORTIFIED Gold and Enterprise Green Communities.
"The Louisiana Housing Corporation has a focus on creating not just affordable housing but sustainable housing," said LHC Housing Development Administrator Louis Russell. "FORTIFIED Gold offers the most protection to our residents when it comes to severe weather. It specializes in enhanced nailing, a sealed roof deck, and locked-down edges. LHC is proud to fund developments like this because it can withstand powerful storms while keeping our residents safe."
LHC funded $11,455,093 through Community Development Block Grant Disaster Recovery (CDBG-DR) funds, 4% Low Income Housing Tax Credits of $1,011,154, and $17,500,000 in Multifamily Revenue Bonds (MRB).
“The Louisiana Office of Community Development-Disaster Recovery unwaveringly supports the development of affordable, sustainable, and resilient housing to help our communities recover from disasters,” LOCD-DR Executive Director Gina Campo said. “We are pleased to provide LHC with $11,455,093 in CDBG-DR gap loan financing for 192 affordable apartments which will help Lafayette residents recover from The Great Floods of 2016, a disaster that dumped more than 20 inches of rain across the parish.”
During the construction phase of this project, LHC will work alongside many valuable partners. The builder/contractor work will be under the guidance of Shreve Land Constructors, and the management company of the project is Multifamily Management, Inc.
To learn more about this project, please visit Atrium Housing's Website.
Email: leasing@atriumhousing.org
