City, State

Baton Rouge, LA

# of Units

46 Units

Total Development Costs

$8,795,119

Client

East Baton Rouge Parish Housing Authority

Financing Structure

Investor equity from R-4 Capital, a soft loan from Partners in Progress, East Baton Rouge Parish’s non-profit affiliate, state CDBG funds, and a permanent loan

Project Narrative

River South is a mixed-income scattered site project located in Old South Baton Rouge. The home sites were acquired as part of the 2005 HOPE-IV initiative, but were never developed. The 31 buildings, in the vibrant area of single-family homes were comprised of 46 units, with a mix of single family, duplex structures, and a 10 unit multi-family building.

River South was awarded an allocation of tax credits in December 2014. The funding included leveraging investor equity from R-4 Capital, a soft loan from Partners in Progress, East Baton Rouge Parish’s non-profit affiliate, state CDBG funds, and a permanent loan. River South reinforced the strong neighborhood appeal by creating family-style living for residents.