The Embassy Apartments
Address: 2901 Dee Street,
Year complete: acquired in 2013
Units: 41 apartments
In November 2013, RNDC acquired the Embassy Apartments, a 41-unit property located adjacent to Shreveport Barksdale Highway and just across the Red River from Barksdale Air Force Base. It was built in the early 1960’s and operated as a market rate property but in recent years it has effectively served primarily low to moderate income households.
The property is RNDC’s first development outside of the Greater New Orleans area and Volunteers of America of North Louisiana will assist with providing services to the residents.
RNDC is in the process of transitioning the property to a true mixed-income resident base with a percentage of units set-aside to serve very low and low income households in accordance with the safe harbor standards pertaining to RNDC’s non-profit status. As part of this set-aside RNDC will target 20 units for Veterans and many of these Veterans will be graduates of Volunteers of America of North Louisiana’s Veterans Transitional Living Program.
The property was acquired with short term financing that allows immediate needs and other capital improvements to be addressed while RNDC evaluates long term financing strategies.
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