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.
Family-Style Living
Affordable Housing in Old South Baton Rouge, LA
