PROJECTS

 

Elm Drive

Senior Apartments

 

4250 Elm Drive

Baton Rouge, LA 70805

 

Number of Units

60

Type

Rehabilitation

Date Started

December 2013

Date Completed

August 2014

Development Cost

$6,568,048

Target Market

Ederly

 

 

 

 

 

Role

Developer / General Partner

Architect

DNA-Workshop

General Contractor

Great Southern, LLC

Non-Profit Partner

The Banyan Foundation, Inc.

Funding

LIHTC / HOME / HUD / AHP / CDBG

Financial Partners

Stratford Capital Group, LLC

Central National Bank & Trust Co. of Enid

Merchant Capital

Red Mortgage Capital, LLC

Louisiana Housing Corporation

Community & Southern Bank

FHLB of Atlanta

East Baton Rouge Redevelopment Authority

U.S. Dept of Housing and Urban Developmen

Elm Drive Senior Apartments, located in Baton Rouge, Louisiana, was an acquisition rehabilitation of a Project–Based Rental Assistance property consisting of 60 one-bedroom units in one three-story building. The property was renovated using Low Income Housing Tax Credits, HOME funds, Community Development Block Grant funds (CDBG), and Federal Home Loan Bank (FHLB), Affordable Housing Program (AHP) funds with HUD financing. The building was originally constructed in 1982 with enclosed corridors and a core lobby on each floor.