LHC Board Approves $210 Million to Develop Multifamily Rental Properties

Louisiana Housing Corporation Board of Directors Meeting Recap


LHC’s Board of Directors approved $210 million to develop 731 affordable rental units across four Louisiana parishes.

This investment represents a combination of LHC’s Low-Income Housing Tax Credits (LIHTC) and Mortgage Revenue Bonds (MRBs).

The approved developments represent a mix of new construction projects that aim to assist working families, households with children, seniors, and people with disabilities.

The Multifamily Mortgage Revenue Bond program uses tax-exempt bonds to provide below-market-rate loans to developers who set aside a certain percentage of their apartment units for low-income families. The bonds are leveraged with private equity from 10-year 4 percent Low-Income Housing Tax Credits (LIHTC).

The LHC Board approved the following projects for final approval of bond sale:

  • Bayou D’Arbonne Retirement Village – Ouachita Parish
    $10M MRB, $6.3M LIHTC, 76 units
  • Cypress at Ardendale Phase I – East Baton Rouge Parish 
    $42M MRB, $3.1 LIHTC, 170 units
  • Cypress Court – Tangipahoa Parish
    $7.5M MRB, $4.6M LIHTC, 55 units
  • Federal City – Building 10 – Orleans Parish 
    $18M MRB, $5.8M LIHTC, 70 units 

The LHC Board approved the following project for new construction: 

  • The Reserve at Joor Place – East Baton Rouge Parish  
    $74M MRB, $41M LIHTC, 360 units 

Year Completed

Planned Fall 2022


Senior | Units: 99


Integral Property Management



Cypress at Pinchback

501 Gardere Lane, Baton Rouge, LA 70810

Located behind St. Jude off Highland Road, close to great shopping and restaurants this tranquil and modern new construction community offers modern one- and two-bedroom apartments for seniors 62 years and older. Apartments are ADA compliant and come with a dishwasher and washer and dryer hook-up. Amenities include an exercise room, computer room, elevators, community room, walking trail, community garden, small gathering/reading rooms on each floor and social, health, wellness, and educational activities programmed for active seniors.