BATON ROUGE – With an investment of $8.5 million, Partners Southeast, the development arm of the East Baton Rouge Parish Housing Authority, has started construction of Cypress River Lofts.
The complex will feature 19 energy efficient one- and three-bedroom flats located at the corner of Duane and Oklahoma streets near downtown Baton Rouge.
“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,” Partners Southeast CEO J. Wesley Daniels said.
In 2016, LaDOTD announced the Highland Road/Nicholson Drive Exit Project. The proposed transit improvement included the demolition of the Terrace Street ramp that 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 through its HOME Investment Partnership Program and Neighborhood Landlord Rental Program, with construction and permanent financing provided by Home Bank. The site is being ground leased from EBRPHA.
