CAHEC Expands Affordable Housing Efforts to Louisiana with New 40-Unit Development
TL;DR
CAHEC's expansion into Louisiana with Capstone at Cedar Street provides strategic market entry into a region with robust economic potential and growing affordable housing demand.
CAHEC is developing a 40-unit LIHTC community in Beauregard Parish through The Banyan Foundation, featuring mixed unit types and community amenities for families earning up to 60% AMI.
This development addresses critical affordable housing shortages in Louisiana, providing stable homes and community amenities that improve quality of life for low-income families.
Capstone at Cedar Street will transform DeRidder with 40 new affordable homes featuring walking trails, playgrounds, and community pavilions in a region lacking recent housing development.
Found this article helpful?
Share it with your network and spread the knowledge!
The Community Affordable Housing Equity Corporation (CAHEC) has announced its strategic expansion into Louisiana with the development of Capstone at Cedar Street, a new 40-unit affordable housing community in DeRidder, Beauregard Parish. This marks the organization's first venture into Louisiana and represents a significant step in addressing the growing affordable housing needs throughout the Gulf region.
Located at Cedar Street in DeRidder, the development is being constructed by The Banyan Foundation, with CAHEC serving as syndicator for the Low-Income Housing Tax Credit (LIHTC) project. The selection of Beauregard Parish reflects the region's robust economic potential and the strategic importance of investing in communities where affordable housing supply has not kept pace with demand.
The development will feature a mix of one-, two-, and three-bedroom units designed to serve families earning up to 60% of the Area Median Income. Beyond the residential units, Capstone at Cedar Street will include substantial community amenities such as open green space, a walking trail, community pavilion, and playground, creating a comprehensive living environment for residents.
Dana Boole, President & CEO of CAHEC, emphasized the organization's deliberate approach to expansion, stating that CAHEC continues to be prudent and deliberate when furthering its vision and partnerships. The need throughout the Gulf region is ever growing, and this expansion represents a strategic response to that demand.
Construction is anticipated to begin in the coming months, with the completed development expected to make a meaningful impact in a region that has experienced a shortage of new affordable housing options. CAHEC's expansion into Louisiana builds on the organization's established presence throughout the Southeast and Mid-Atlantic regions, where it has developed expertise in multiple community investment areas including low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits.
The organization, which maintains offices in Raleigh, North Carolina, and Columbia, South Carolina, also provides additional services including loan programs, wellness and education initiatives for residents, affordable housing development, and property management services. More information about CAHEC's comprehensive approach to community development can be found at https://www.cahec.com.
Curated from 24-7 Press Release
