The Groves at Mile Branch
Address: 424 Purslane Drive, Covington, LA
Year complete: 2011
Units: 94 mixed -income rental and 35 single family units
In July 2011, RNDC completed 94 mixed-income rental units at the Groves at Mile Branch, a planned unit development near downtown Covington. The $22 million project offers a mix of one-, two- and three-bedroom units, along with a central park and community building. The 94 units of rental housing serve households at a variety of income levels, including market-rate. In addition, 35 single-family homes have been completed encompassing the Cottages at Mile Branch, of which ten of these have been developed by Habitat for Humanity. Situated near a distressed neighborhood known as the West 30’s, the Groves development is helping to catalyze the redevelopment of this community.
Financing consists of Low-Income Housing Tax Credits (LIHTC), Community Development Block Grant (CDBG) funds from the Louisiana Office of Community Development for housing, CDBG funds from St. Tammany Parish for infrastructure, Tax Credit Assistance Program (TCAP) funds, 1602 Exchange funds, as well as private foundation support. 70% of the 94 units are LIHTC income restricted. 15 units, or 15%, are affordable at 40% of the area median income (AMI), and five units, or 5% of the total, are Permanent Supportive Housing (PSH) units.
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