Alexandria, LA — The Louisiana Housing Corporation (LHC) joined local and private sector partners to celebrate a ribbon cutting for the Rapides Senior Living Facility. The ultimate goal of this development is to provide much-needed affordable senior citizen housing in central Louisiana.
LHC awarded $850,000 in Low Income Housing Tax Credits (LIHTC); the estimated LIHTC Equity Proceeds are expected to be $7.3 million. The Rapides Senior Living Facility received this funding through LHC's 2021 LIHTC Funding Round.
The new construction of this retirement community includes 48 units, will include green space and walking trials, and will be ADA-compliant and handicap accessible.
“Senior citizen poverty and homelessness are increasing rapidly in the current inflationary environment. Higher food prices, increased utility bills, higher insurance rates, and medical expenses drastically reduce senior citizen purchasing power," said Developer of MCM Development Group Jeff Glover. "Consequently, senior citizen homelessness is projected to triple over the next decade. Rapides Senior Living Facility offers senior citizens affordable rents with low utility bills, which creates more senior citizen disposable income for healthcare and basic necessities.”
"Providing decent and affordable housing can reduce homelessness and can even support a person’s overall health," said LHC Interim-Executive Director Marjorianna Willman. "Providing housing for our senior citizens has become a priority for LHC. Making sure our elderly population has a place to call home, in the community that they love, is of utmost importance."
MGM Development, LLC is the project developer and DNA was the project architect. The Builder and Contractor were Brockman Builders. Rampart Property Management will serve as the management company.
For more information, visit Rapides Senior Living Facility
Phone Number: (318) 794-7575
Breanne Bizette
Public Information Officer, Louisiana Housing Corporation
