CAHEC, a community investment organization based in Raleigh, NC, and Columbia, SC, has announced its expansion into Louisiana with the development of a new affordable housing community in DeRidder, Beauregard Parish. The project, Capstone at Cedar Street, represents a significant milestone in the organization's growth and commitment to creating high-quality affordable housing solutions throughout the Southeast.
The new construction development will consist of 40 units designed for families earning up to 60% of the Area Median Income (AMI). The community will feature a mix of one-, two-, and three-bedroom units, along with amenities such as open green space, a walking trail, a community pavilion, and a playground. The developer is The Banyan Foundation, with CAHEC serving as the syndicator through Low-Income Housing Tax Credits (LIHTC).
Located at Cedar Street in DeRidder, the site was chosen due to the region's robust economic potential, making this investment particularly impactful. Construction is anticipated to start in the coming months. Upon completion, Capstone at Cedar Street will not only expand CAHEC's footprint into Louisiana but also deliver meaningful housing options in a region that has lacked a new affordable housing supply.
Dana Boole, President & CEO of CAHEC, stated, "CAHEC continues to be prudent and deliberate when furthering its vision and partnerships. An example has been our efforts in the Gulf states and, most recently, Louisiana. The need throughout the region is ever growing and we're thrilled for the opportunity to expand our impact."
This expansion underscores CAHEC's ongoing mission to provide housing and life-changing opportunities to residents throughout its Southeast and Mid-Atlantic footprint. The organization invests in low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits, and also offers loan programs, wellness and education initiatives, affordable housing development, and property management services. For more information, visit CAHEC's website.
