Address: 711 Grinage Street, Houma, LA 70360
Units: 103 Senior Housing
Year Completed: 2017
In June 2017, RNDC completed the redevelopment of Academy Place, a one-acre site in an urban walkable mixed use neighborhood adjacent to downtown Houma. Forty-seven apartments are located in the now fully restored historic 1931 former Houma Elementary school building with an additional 56 apartments in a new three-story complementary building on the same landscaped site. This development brings a total of 103 much needed mixed income senior apartments to the market.
The historic masonry school building, flanked by large mature live oak trees and with generous formal green space, has great sentimental value in the community with many seniors recalling attending or having taught school there (a few are now current residents). The once grand building had fallen into disrepair and become a public nuisance. This redevelopment placed a landmark building, listed on the National Register of Historic Places, back into commerce. The buildings are also Enterprise Green Communities certified in keeping with RNDC’s goal of promoting healthy living environments while reducing carbon footprint through making efficient system and material choices. Developments such as this provide growing communities with much needed affordable senior housing with great walkable access to basic commercial services that is well-served by public transportation.
The $20 million in total development cost was funded by a combination of Low-Income Housing Tax Credits (LIHTC), Federal and State Historic Tax Credits, Terrebonne Council on Aging funding and private bank loans. This mixed income community includes a 60% LIHTC set aside of units for low income households with the remaining 40% of units unrestricted at market rate. Six units, or 5%, are additionally set aside as Permanent Supportive Housing (PSH) units for very low income households
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