Baton Rouge, LA— With an investment of $8.5 million, Partners Southeast, the development arm of the East Baton Rouge Parish Housing Authority (EBRPHA) has started construction of Cypress River Lofts, 19 modern and energy-efficient one- and three-bedroom flats located at the corner of Duane and Oklahoma Streets near downtown Baton Rouge.
Wesley Daniels, Jr, CEO of Partners Southeast and EBRPHA states “The long-term commitment to transform South Baton Rouge began in 2002 when EBRPHA was awarded a HOPE VI grant through the U.S. Department of Housing and Urban Development. The multi-phased development began with River South Phase I, a scattered site community, consisting of thirty-three units. Phase II, built on Highland Rd. across from WBRZ, includes forty-six units. Now twenty years later, we continue our commitment with the start of our third phase, Cypress River Lofts.”
In 2016, LADOTD announced the Highland Rd./Nicholson Street Exit Project. The proposed transit improvement included the demolition of the Terrace Street ramp, which would be replaced by a new Oklahoma Street exit ramp. At the time, Partners Southeast was preparing to close on the financing of River South Phase II.
This new exit alignment, fronting its 1.5-acre site, spurred Partners Southeast development team to re-envision how they could maximize housing opportunities for the site. By increasing the density of the 1.5-acre site, River South Phase II was constructed using half of the site creating a third housing phase, Cypress River Lofts.
Financial investment for Cypress River Lofts is provided by the Louisiana Housing Corporation (LHC) through its HOME Investment Partnership Program and Neighborhood Landlord Rental Program (NLRP), with construction and permanent financing provided by Home Bank. The site is being ground leased from EBRPHA.
The development team includes the developer, Partners Southeast, the general contractor Milton J. Womack, Inc. and Leggette Construction Joint Venture, and architectural firm RHH Architects. Construction completion for Cypress River Lofts is anticipated in October 2024.
Janelle Brown, COO of Partners Southeast, said the organizations’ access to federal, state, and local capital “enables us to continue to make substantial investments in the capital region.”
River South Phase I and II and this third housing phase, Cypress River Lofts, represent a $28.1 million capital infusion within one of the oldest neighborhoods in Baton Rouge. Partners Southeast communities in South Baton Rouge adjoins two other major initiatives – the sprawling Water Campus, which includes the LSU Center for River Studies, and the 30-acre Nicholson Drive development by Commercial Properties Realty Trust (CPRT).
“Cypress River Lofts will be a welcoming and impressive addition to the Nicholson and Highland Rd. corridors,” said Daniels. “The Water Campus is the country’s first major center dedicated to the study of coastal restoration and sustainability. CPRT, the real estate arm of the Baton Rouge Area Foundation, has invested $9.5 million to help lead the development of a new vision for this historic area on Nicholson Drive. The plan is to add an exciting new arena on the LSU campus to host major entertainment events contributing to the growing investments.
“We recognize that we can be an economic driver to revitalize the South Baton Rouge neighborhoods with our innovative designs and access to capital,” Daniels continued. “We also believe that these developments will continue to attract private investment as was the case with River South on Highland Road. We are committed to continuing our transformational strategy.”
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For the past 20 years, Partners Southeast has sought to use housing as a vehicle to make measurable impacts in Education, Economic Opportunities, and Health & Wellness in communities throughout the Southeast. Partners Southeast provides and develops quality housing opportunities for individuals and families while promoting self-sufficiency and neighborhood revitalization. Focusing on strategic investments in People, Neighborhoods and Housing, seamlessly mixing market-rate and affordable units, Partners Southeast creates vibrant and diverse communities. For more info on Partners Southeast, call: 225.923.8112 or go to www.partnerssoutheast.com
East Baton Rouge Parish Housing Authority positively impacts over 13,000 individuals and families including seniors, disabled citizens, and military veterans. Find more information at ebrpha.org. The agency can be reached at 225.923.8100
